Converge. Sales Kick Off in Vegas. But I am hearing that layoffs will be third week of May which makes no sense at all to fly people to Vegas and then lay them off. But...NetApp has done crazier things...
Any chance somebody knows more about this? Whether it's true or not, among other things?
@1f5 do you still think this site is a load of BS? Yes, there are the occasional trolls, but for the most part, the layoff predictions are not that off.
@1fx To me it does seem we are mgmt heavy.
@25n when is it ?
Be ready.
@1pk you id--t, check the last layoff date I am not talking about silent layoffs
@1pj yes, that's why they out you on Garden leave for 2 months. But even though you don't work, I think you're still considered an employee by law so you are technically still here June 25th for ICP?
You must be a “great” team member with your snarky response.
You might want to educate yourself before making comments that highlight your ignorance.
Many Account teams, including in the Healthcare sector were laid off last May.
WARN Act applies for 500+ impacted Employees or 33% of workforce. There are ways to navigate around that and NetApp has been strategically been doing that lately.
Wouldn't you still be with the company on June 25 because you're on payroll for 2 months due to WARN?
@1m0 except that last year layoffs were in April genius
Let’s “connect the dots”.
First they take away PTO, which is one less thing to have to pay out if you’re let go, then the Thrive newsletter in Feb said you’re ineligible for ICP if you’re not with the Company on June 25th.
Also, they did have layoffs in May last year post-Converge. It makes sense because the focus is on Q4 and then Converge.
I thought it was in poor taste though to then celebrate Kurian’s 10th Anniversary as CEO and bring in Jerry Rice to boot. Clearly this is not the same NetApp that lead many of us to seek a job here in the first place!
Based on the Thrive schedule and fiscal calendar, and IF the rumor is true, the final list should be ready by May 15, so again, if the rumor others have posted here is true, then it would happen during the third week of May. Let's hope it's just a rumor, the economy and job market is a mess!
@1fv I heard the same from a friend still at the company. Unfortunately, the layoffs are scheduled to happen in mid-May. I don't recall the specific date for the cuts. He said many directors and VPs are on the list too. Whether they stay on the list is anyone's guess. It truly su-ks for those affected. It's a rough time to be in the market. Hang in there.
If cuts of this scale are coming, expect them in the 2 few weeks. Doing it now lets them absorb the headcount loss in Q1 and bump the share price slightly, book the restructuring charge early, take the hit in Q2, and pitch a recovery by Q3. It's a well-worn playbook for GK. Large early tot mid quarter layoffs to bump the stock a few points aren't unprecedented here.
Don't expect a WARN notice to be your warning. They've worked around it before by issuing delayed terminations. You'll get formal notice but a few months of paid salary before your actual last day.
Here's to hoping they have the decency to give us that buffer.
@1es heard from who? This site is a load of bs
@1en I heard the same thing and was told it will be between 6-8%. I hope it's just another rumor/lie. What will the criteria be? Performance/stack ranking, "thrive together" nonsense?
Lock and loaded, next two weeks. Good luck all.
@1de tell more , is it a big number ? Company wide or silent layoffs which are happening team specific ?
Layoffs will happen a couple days before earnings announcement this month.
Doubtful execs would layoff at the beginning of q1. More likely at the end of a quarter. This is spreading fear for nothing.
Don't forget how they took PTO and replaced it with a system that is entirely incompatible with their marvelous thrive together policy.
Meanwhile, George Kurian took home 25 million in total compensation last year, and small layoffs happen across the company almost every quarter for the last 2 years. Real people, often good employees, losing their only income. But hiring in India? That's always growing. Quite the legacy Kurian will leave once he departs from NetApp.
It will be interesting to see if other companies follow Microsoft's model of incentivized retirement model, the rule of 70...
@f0 this so called ' CTO and VP of EMEA & LATAM needs to go first. Dude sits in his home office in Ireland, orders changes to the presales and Channel Org. No value add from him at all. Made a fool of himself at the kick off last year by answering that his favourite feature on ASA was unified.
I have seen both scenarios during my time at NETAPP. Layoffs BEFORE SKO and LAYOFFS AFTER SKO (one person laid off during flight back home). So it does not surprise me that it will happen after. Next 3 weeks it will happen and then back to normal.
Speaking of overhead look at the training department. They used to be NAU and they used to do actual technical instruction. Now they just trained sellers it seems have barely 100 staff but close to 10 Dorectors with a VP. Makes no sense when the staff suffers and cannot deliver on an employee training charter. Don’t believe the spin.
@ch Director and above need to get fired first. Especially in product management.
@aw Paying your own money to comply with thrive is nuts. You still haven't ever increasing chance of getting fired at this company over nothing. They pretty much do monthly layoffs at this point. Lots of quiet ones we never hear about. And then of course the massive ones we're talking about here where your eligibility is determined buy some AI software and how much you cost the company in various ways versus how you perform. Might as well get fired over doing bare minimum instead of fired over trying your hardest and paying money out of your own pocket. There's no point anymore.
@aw This is class warfare, inside the company.
Yeah it's nuts. Last year I saw one of the UK sales director getting off with the marketing manager. Both are married.
It's just an excuse to get wasted in vegas on company dime when the rest of us are paying for our own airfare in order to comply with thrive because there is no money in the budget.
These companies that have sales events in vegas are just ridiculous. Its all cheating, affairs, drinking. Gambling.
I guess its good for divorce lawyers
And what does "meeting" all the time actually accomplish.
End the frat parties.