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From what I am hearing, most of folks on ISP list will be DLs.
Given the objective of cascade 2 is to reduce leadership layers, it makes sense. GPs/Directors will save their skin and throw DLs under the bus.
Skills, capabilities and performance will not matter. If you are a DL and don’t have a GP/Director protecting you, your name will end up on the ISP list.
Given all the layoffs that are sweeping through the company and still to come, are any of the jobs listed on oracle.com actually open? Can anyone inside comment as to whether they've seen any hiring happening or is it frozen for 60 days?
Does anyone know if there will be more TAM Layoffs coming now that everyone's been given a new title?
I’m hearing rumors that business lines/functions will have 20% targets for an October RIF. Is anyone else hearing the same? Does anyone know of any specifics?
This sounds a bit too much, but then again…
6k is 1/3. That’s the number. That gets the staffing to about 12k which is roughly half of what it was pre covid. That’s a huge reduction. With increasing output and content the goal is double the revenue of pre covid with half the staff. That’s how you turn a profit.
OP: @fh+1k2wpserx
A SI and Ops Spec. roles had a last-minute meeting this week stating that we're looking at reduction of roles due to NK's lifecycle.
Anyone else catch any more details on this?
It is because a big headcount cut will happen and will be announced around November 12, minimum 10k employees will be impacted.
I keep hearing that 1000-1200 associates are going to receive the ISP. This would be a substantially higher number than what have been discussed related to Reimagined. Is anyone else hearing similar rumblings?
https://wccftech.com/intel-xeon-6-6980p-hits-a-record-low-price-of-6190-half-the-official-msrp/
This could be half the official headcount
I recently chatted with a friend who specializes in restructurings, and she shared some thoughts on reimagined.
The duration and scale of this consulting project indicate that the target for headcount reduction is more than 15%.
ISPs are probably going to lose access to their laptops within a week. The 60-day period to reapply for other positions is likely nonsense. Once ISPs are informed, they won’t want them snapping photos of sensitive client data and sharing it on the dark web.
They probably had an idea of who they were letting go back in January. Typically, leaders assess their employees based on current skills and their potential for retraining.
Despite all the dishonesty and deceit, my friend believes PP is doing well. Her aim is to boost GP profits, and cutting over 1000 jobs will definitely enhance GP returns.
Happy Hunger Games!
Based on what people are sharing, these layoffs seem massive and widespread. Why are we being kept in the dark? The lack of communication is making an already difficult situation far more stressful and disorienting than it needs to be.
Sr. Director here.
Had my 1x1 with my SVP yesterday and was told that I likely will have to cut 5 people. I was told that this is company wide and most, if not all, departments and teams will be hit with a minimum of 10% for each team. Apparently it comes down to which is "cheaper" - cut ties with a vendor and get rid of a necessary tool, or cut people. In this case, it's sadly people. She couldn't tell me much but it sounds like it's supposed to be fairly big.
The gole is cut 22% headcount including other approaches.