Vanguard continues to deny the fact that they are not laying off employees in light of recent turbulent market conditions. It is a generally accepted fact that they are telling the truth by the letter of the law but violate the spirit.
For the past year, Vangaurd has forced managers to rank employees by their ability to perform. While there's nothing wrong with establishing a lean and efficient company, their tactics in this case hit way below the belt.
They target older (more expensive to pay, insure) and longer tenure (high bonus payment scale) employees for dismissal.
Since these are essentially good, hardworking folks, the company CREATES intangible and dubious reasons for the sudden dismal of these employees. For example, an male employee over 40 years of age with 12 years of experience was fired because of a complaint from a client who was known to fabricate stories just to fill her days. When the story was investigated, it was found to be false. However, the fact that a client complained was used as a reason to put the employee on warning and ultimately fire the employee.
They also have tried to keep the fact that the majority of what they call "normal turnover" is actually a result of their efforts to make the lives of targeted employees so miserable that they will quit.
Vanguard currently has multiple complaints against it in the EEOC and there are more to come. Vanguard is quick to settle these claims to keep this from gaining class action status and to keep up its pristine image in the public eye. They will throw moderate sums of money at departing employees just to keep them from filing suit.
Keep your eyes out for this. It's going to blow soon and it will be ugly.
Samantha
Villanova, Pennsylvania
U.S.A.
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