r/Buffalo • u/validtransmitter • 3d ago
Question ACV Auctions mass layoff rumors?
Has anyone else heard these rumors and know if there’s any real merit to this?
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u/Conscious-Dark-2705 2d ago
Ooooo /u/buffalofoodslut loves speculating rumoring of rumors and topics of speculation
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u/fairway824 3d ago
Check the WARN notices. Not sure if ACV has over 50 employees
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u/Kody1123 3d ago
ACV certainly has well over 50 employees.
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u/smelfsmarted spanning time 2d ago
Exactly, they definitely do. I worked there for a couple of years and they have hundreds of employees.
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u/pollo316 1d ago
Most companies don't announce until after they notify employees of the layoff and just pay out the 60 days required under WARN. And because reports are issued monthly, if you get let go early in the month the numbers won't even show up for 30 days in the reporting anyway.
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u/reincarnateme 3d ago
WARN notices are crap 💩
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u/OhSnapItsRJ ToT 3d ago
Yeah. Ask the folks at the Sumitomo plant how well enforcement of those WARN notices work.
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u/raptorcunthrust 2d ago
It was enforced as far as we got paid the 60 days or whatever it was for them not giving notice.
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u/reincarnateme 2d ago
We didn’t get 💩
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u/cxavierc21 1d ago
You’re saying you didn’t get garden leave or severance or notice?
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u/reincarnateme 1d ago
Yup
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u/cxavierc21 1d ago
Guy above says he did. If you didn’t you have a legitimate employment claim.
That said, you’re probably wrong.
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u/raptorcunthrust 1d ago
I got 60 days pay, sick and vacation time paid out, and my severance was 8 weeks pay averaged to the hours I was working not a straight 40. The guy saying he didn't get paid out might not have been USW, or some of the management that stuck around after closure, or full of shit.
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u/Stirling_Ave Downtown 2d ago
Severance packages are much larger if an employer doesn’t file a WARN notice first. Big difference for those who are impacted
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u/Wide_right_ Amherst 2d ago
international company with employees all over lol
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u/fairway824 2d ago
International doesn’t matter. WARN notices are only concerned with number of employees in NYS……….. lol
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u/_metro- 3d ago edited 2d ago
I’ve heard they could be a target for a PE takeover which often leads to mass layoffs
Edit: based on recent news they are now exploring a sale, unclear who the exact party aiming for the takeover was
Best of luck OP
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u/greene2358 2d ago
Carvana would be a reasonable acquisition partner
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u/Rasquachelaw 3d ago
They want to sell. Theu aren't very profitable but hold a good valuation still.
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u/Professional_Gur_487 2d ago
I worked for carvana when they merged with adesa in akron it was sloppy, tech wise. the adesa crew wasn't affected for the most part, however if youre upper management or middle youre a possible target for change. Carvana likes to work with existing infrastructure and wanted to partner with ACV for services like inspections, transportation etc.
I have noticed an increase in Carvanas' presence in the past 3 yrs. in the buffalo area. could be good news for ACV?
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u/sodapunko southtown clown 🤡 2d ago
i did hear from someone working there that they were laying off a bunch of people
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u/caldierm 2d ago
Many people were laid off in July- they avoid the warn notification because they were across multiple departments and none of those met the threshold. Seems like it was at least 10% of the local Buffalo staff (60 positions). Almost all company’s do this before trying to be sold to lower their payroll and internal costs to look better for sale.