- Report: #65339
Complaint Review: The Vanguard Group - Malvern Pennsylvania
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The Vanguard Group
100 Vanguard Boulevard Malvern, 19155 Pennsylvania, U.S.A.
Phone:
800-662-0106
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The Vanguard Group targets older employees for "layoffs" to maximize cost savings Malvern Pennsylvania
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.
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.
4 Updates & Rebuttals
Frank
Chalfont,Pennsylvania,
U.S.A.
sorry that you were part of that grouping
#2UPDATE EX-employee responds
Tue, November 04, 2003
The first reaction someone has to termination is that it is someone else's fault. This then causes feeling's of anger, among many other feelings. Vanguard is a good company, and still is. I have seen many terminations during my time, and I can assure the public that Vanguard does not improperly terminate any employee. In fact the process is too long to assist someone in finding a different career path. I worked there for 5 years (I left to be closer to my family). During that time I saw changes as you mention. But I will be the first to say that they were necessary changes. The company had plenty of dead wood that needed to be weeded out. I am sorry that you were part of that grouping, but I am certain you were aware of what you needed to correct, and you were provided ample time to correct it. Vanguard has been named by many sources as being one of the best companies to work for. And for many 1000's of current and former crew it has.
Frank
Chalfont,Pennsylvania,
U.S.A.
sorry that you were part of that grouping
#3UPDATE EX-employee responds
Tue, November 04, 2003
The first reaction someone has to termination is that it is someone else's fault. This then causes feeling's of anger, among many other feelings. Vanguard is a good company, and still is. I have seen many terminations during my time, and I can assure the public that Vanguard does not improperly terminate any employee. In fact the process is too long to assist someone in finding a different career path. I worked there for 5 years (I left to be closer to my family). During that time I saw changes as you mention. But I will be the first to say that they were necessary changes. The company had plenty of dead wood that needed to be weeded out. I am sorry that you were part of that grouping, but I am certain you were aware of what you needed to correct, and you were provided ample time to correct it. Vanguard has been named by many sources as being one of the best companies to work for. And for many 1000's of current and former crew it has.
Frank
Chalfont,Pennsylvania,
U.S.A.
sorry that you were part of that grouping
#4UPDATE EX-employee responds
Tue, November 04, 2003
The first reaction someone has to termination is that it is someone else's fault. This then causes feeling's of anger, among many other feelings. Vanguard is a good company, and still is. I have seen many terminations during my time, and I can assure the public that Vanguard does not improperly terminate any employee. In fact the process is too long to assist someone in finding a different career path. I worked there for 5 years (I left to be closer to my family). During that time I saw changes as you mention. But I will be the first to say that they were necessary changes. The company had plenty of dead wood that needed to be weeded out. I am sorry that you were part of that grouping, but I am certain you were aware of what you needed to correct, and you were provided ample time to correct it. Vanguard has been named by many sources as being one of the best companies to work for. And for many 1000's of current and former crew it has.
Frank
Chalfont,Pennsylvania,
U.S.A.
sorry that you were part of that grouping
#5UPDATE EX-employee responds
Tue, November 04, 2003
The first reaction someone has to termination is that it is someone else's fault. This then causes feeling's of anger, among many other feelings. Vanguard is a good company, and still is. I have seen many terminations during my time, and I can assure the public that Vanguard does not improperly terminate any employee. In fact the process is too long to assist someone in finding a different career path. I worked there for 5 years (I left to be closer to my family). During that time I saw changes as you mention. But I will be the first to say that they were necessary changes. The company had plenty of dead wood that needed to be weeded out. I am sorry that you were part of that grouping, but I am certain you were aware of what you needed to correct, and you were provided ample time to correct it. Vanguard has been named by many sources as being one of the best companies to work for. And for many 1000's of current and former crew it has.
