In 2-3 weeks, it will be axe day. Numbers are probably going to be large in the US because Lenovo will get no aid regardless. The benefit they have now is they can dump employees, pay no severance, and pocket all that money they can. If you are tapped, you are exiting in a job market that has not even started the mass layoffs yet, no company is really hiring, and most are going to be reducing as soon as they can.
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I guess the rumours were true, tons of good people were let go this week. Sad to see and I don't know what they are thinking. Losing good people will not help DCG succeed, those that are left will be expected to do even more and won't have the resources needed for progress deals.
@euwu+14QBHm7f - can't you provide more info? Are any teams unaffected? In 2019, the services org seemed fairly untouched. We looking at a repeat?
Lenovo is cutting 20% from DCG all geographies and groups and functions. Just fired head of engineering, in favor of an id–t from Intel. Word is all over the place internal. no vision, lack of good leaders. pretty much a mess.
@7sik+14QBHm7f : "No one can show proof that Lenovo is in layoffs? WHY? because no layoffs obviously" :
https://www.wraltechwire.com/2020/04/23/sources-lenovo-cutting-contractor-jobs-mulls-layoffs-freezing-pay/
"This is rumor mill from people who are not Lenovo and have never Lenovo, and are probably Dell or HP or other company trying to make discord." ..
Not that it matters to an anonymous troll like you, but I was an engineer for Lenovo for several years... I heard the lies management spewed about keeping jobs in 2005-2006 after the M&A just to see people by the scores given notice that their position was gone. I saw good engineers forced to train their Chinese counterparts and watch as over half of those US jobs disappear.
I saw the so-called "leadership" say that "we didn't see a future in mobile" in 2007 and 2008 only to watch the company get left in the dust by the competition. By the time they removed their heads from their backsides, it was the latter half of 2010 and far too late to do anything but do what Lenovo does best - copy better technology and pretend that their junk is great.
I was there in 2009 when Chairman Liu took the lead position back over from Bill A. (what a prince HE was... ). He came to the kickoff in Durham and gave a lengthy speech essentially blaming employees for the downturn in profits. Yes, this man actually lambasted all of us for the economic meltdown of 2008-2009 – absolutely brilliant.
More lies from management as the Data Center Group group was bought from IBM several years ago – lied to by management about jobs being safe, then terminated. Mobile Business Group - same story there.
I was there for the Superfish debacle and the embarrassing truth that Lenovo's software had absolutely NO SECURITY WHATSOEVER built into it. We didn't even have a concept of security until the company was wiping egg from its face from not only Superfish, but other third-party malware we were caught shipping with our notebooks. No executives were fired over that, but they should have been.
What is so wonderful about a company that behaves like this? It's all lies, political posturing and backstabbing to survive.
This website needs be shut down for the spreading of fake news. No one can show proof that Lenovo is in layoffs? WHY? because no layoffs obviously. This is rumor mill from people who are not Lenovo and have never Lenovo, and are probably Dell or HP or other company trying to make discord. Shameful.
@6bqc+14QBHm7f "There arent going to be layoffs..." I hate to spoil your one-man rally, but Lenovo has had Layoffs EVERY year since the IBM acquisition in 2005 and that will not change.
"this is stupid conjecture by people who are jealous of lenovos success": This statement does not even make sense. If a company is successful, that does not make people automatically resent it. The methods in which the company both achieves and then totes its success are what people question.
Allow me to educate you:
Lenovo is a publicly-traded company, like so many other companies, it will do whatever is needed to control shareholders' perception of reality that it is a profitable, successful business to continue investments. As stated, layoffs happen frequently, and that won't change. People are cheap, replaceable parts to this company, and are disposed of as such. This was thoroughly ingrained in the culture when I was there and has undoubtedly become worse since. Another example? as a publicly traded company, Lenovo buys back its own machines through its subsidiaries to make statements like "we shipped x million units this quarter!" to make the quarterly profit/loss statements appear rosier than what true reality would dictate. Other aggressive cost-cutting measures include removing all personnel from one campus and squeezing them into tiny cubicles, making people work 12+ hours a day to make up for the asinine targets set by the U.S. "leadership" so their bonuses can be higher. Do you remember how the Nazis used their enemies that did not immediately k–l? Right, it was dehumanizing efficiency at its finest. A lot of money could be saved by cutting the travel budget (Covid-19 aside) and make senior leaders talk to their overseas counterparts over teleconference. The reason why this is not done? It matters more that that right people see your face than actually doing work that makes the company succeed. Get the picture? Most people band 10 and higher are nothing but strawmen trying to convince the underlings how wonderful it is here to squeeze more work out of them. The reality? It's a Chinese sweat shop.
Your English grammar does not help your credibility at all
Do not believe is layoffs, there is no US layoffs to be happening, so all of rumors and unhelpful.
Exit date by July 31st. Best wishes all.
And YES lenovo IS a c rap company.
I’d like to believe that too. My only concern is my director told me this morning to expect massive layoffs soon.
There arent going to be layoffs this is stupid conjecture by people who are jealous of lenovos success. Lenovo makes good computers and is going to be the market leader in all regions this year. stop spreading fake news. NO layoffs this year.
After earnings
@2rjq+14QBHm7f Ah yes, the two authors of "The Lenovo Way". Ever read that thing? It is suitable for bathroom tissue. It totes the cutthroat Chinese business culture of working people to death and only keeping those who "don't complain" as the way to go. Other subtext includes highly dubious business practices and deceitful methods to achieve the "win". It is reminiscent of the story of Joe Hunt of the "Billionaire Boys Club" in 1980s California. I recommend the 1987 film starring Judd Nelson as a replacement for reading the text.
Lenovo’s Secret M&A Recipe
https://fortune.com/2014/10/31/lenovos-mergers-motorola/
Lenovo is not a c-ap corrupt company,
it bought really terrible performing American companies of Motorola and IBM Servers, and these cannot be turned around.
Let them go.
Old American jobs dont give profits now,
american stockholders will know this.
DCG is a basket case of a business unit.
All those high paid executives in America, legacy of IBM, who cant run a business,
it is a failure,
Good luck but also keep in mind if you get laid off you're leaving a c-appy corrupt company and in the long run you'll be better off.
Would layoffs happen before or after earnings announcement for the year? Believe earnings will be announced 3rd week or so in May, assuming they’ll want to be able to say we had a bad quarter but we reduced our headcount in order to balance the books for this upcoming year.
Worried about US MBG, projects are stalling, nothing too exciting in the pipeline, no one wants to spend any money
You must have been at different kickoff as it was clearly said no rises, no promotions, major manufacturing hub in Wuhan at center of pandemic...
No way. All that positive news at virtual kickoff.
Don't completely agree - it depends on your skillset. I still get hit up by recruiters for solid high-level software tech roles. All the roles offered for my consideration literally pay $20k-$50k more than what I was making at the Chinese seat shop in Morrisville.