Kimley-Horn and Associates, Urban Resource Group Fire 20% of Workforce
Kimley-Horn and Associates and it's subsidiary Urban Resource Group has fired a rumored 20% of its workforce. Cutting across all lines but seeming to concentrate on higher salaried staff age 50 or older(including stockholders), most were let go with a severance package consisting of extending the employee's health insurance to the end of the month in which they were terminated and an offer of "If you need help with your resume...call us". At this time we are unaware of any employee being given any type of severance package.
We are all aware of the downturn in the construction market, and the economy generally as a whole. However two additional factors are rumored to be responsible. Apparently a large number of senior stockholders are retiring and Kimley has to repurchase an inordinately large amount of stock rumored to be in excess of $100m. The second seems to be an attempt to drastically reduce salary costs by reducing older mid-level professional employees with interns and new hires. In one office 60% of the employees were over 50.
Another office gave a month notice...to get paid for the days and not accrue any personal time 'debits' you must work at least 4-1/2 hrs a day.
In a sad commentary on the Human Resource department's management ability the main computer system continued to send out "Congratulations on your anniversary and we look forward to many more" messages to terminated employees.
We have revised this posting effective 05/08/2008 since we believe there were some inaccuracies in the previous information. We apologize for this and any discomfort it has caused.
Posted at 07:22AM Apr 30, 2008 by mis'tree in General | Comments[0]