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Employer of Choice? Not even close

Engineer
Current Employee
Has worked at Visa for 20 years
November 24, 2015
San Francisco, California
1.0
Doesn't RecommendNegative OutlookDoesn't Approve of CEO
Pros

Not many at this point in time. And yes, I am looking for a new job.

Cons

The company is slashing employee benefits at a time when profits are booming. The pension has been frozen, resulting in essentially a 6% pay reduction. But hey, they could have just cashed us out, so we are just being ingrates, right? Insurance costs have risen 15-20% due to "potential Cadillac taxes" because of ObamaCare. Yet, when the numbers are actually looked at, Visa is well within its ranges, and many of these taxes won't apply.

Despite numerous, NUMEROUS queries from employees requesting a discussion about how these decisions were reached, there is nothing but a deafening silence from management. No reason to respond since they got their bonuses, which range in the millions. Don't believe it? Just check the SEC filings.

The slogan around here is that Visa wants to be the "Employer of Choice". Yet, by their own admission, freezing the pension alone takes us from #1 in recent business surveys to #5. What exactly is the choice being made here? Be another face in the crowd of employers? Don't fall for it, people.

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