Thread regarding Synopsys Inc. layoffs

@154 Is that because of the third round of layoffs or 2nd ?

@OP Only today i found out one of the senior employee in high 40s in my adjacent team was let go. Few people work in hybrid at my location , and i found only after he didnt show up in last 2 weeks,

@fx Lately I’ve received several LinkedIn messages expressing interest in my background. Unfortunately, they’ve all been from hardware companies, and I don’t have any hardware design experience. It feels like Synopsys is a wounded fish in the water and the sharks have started circling. Definitely I will grab any chance to make the change if the timing is good.

@fm I completely agree with you. The EDA industry is vastly different from other software sectors, requiring years of experience before an engineer can make substantial contributions. Many junior members on my team stayed only a few years before leaving for more engaging and rewarding opportunities. So, top performers still have excellent prospects for finding strong roles at competing firms.

For companies like Cadence and Siemens, this represents the prime opportunity in decades to acquire elite talent from your major competitor.

I’m in my mid-50s, I wasn’t a high earner, and I hadn’t been with my previous employer for very long, but within three months, I received offers from two companies with even better terms. It’s true that the job market is tough, but companies don’t necessarily hire only young people. Since young people these days tend to quit their jobs for trivial reasons, companies often hire experienced workers who can make a steady contribution, even if they’re older.

If you are over 40 in the US, the company has to provide you a list of ages and titles of everyone affected in the layoff. You also have at least 21 days to accept a severance agreement. So you should talk to a lawyer.

For those affected by the RIF, you have the age ranges and titles for the individuals involved in the event:

EXHIBIT B
INFORMATION CONCERNING LAYOFF
DISCLOSURE UNDER TITLE 29 U.S. CODE SECTION 626(f)(1)(H)

You can clearly see the age range of over 85% was 44 to 60+ with the average being in the mid 50s. That means a greater savings for the company due to these individuals ( more than likely ) being a long-term employee with more than 6 plus years of employment and a higher salary.

Is this age discrimination? Of course it is!
Can you prove it? With a lot of money and a lawyer team maybe

Does ageism exist in the workplace for hiring older impacted employees?
Yes, from your LinkedIn profile, resume, images, video interviews and face-to-face meetings.

Good luck to everyone! This current employment market is extremely rough and employers want younger talent and sometimes are paid more as a new hire as individuals at the same grade make that have a longer tenure at the company.

In my country, 65% of those laid off last year were in their 50s—with many around age 60—while 30% were in their late 40s and 5% were in their late 30s.
In this year’s layoffs, 84% were around 60 years old.
Furthermore, more than half of them had been with the company for about 20 years.
While age discrimination is clearly illegal, the company has committed a series of illegal acts and procedures beyond that, offering severance packages higher than usual to silence employees and demoralize them. Those who signed and left have effectively accepted the company’s illegal actions and will not file lawsuits.