I sure hope so.
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Seems a lot of middle mgmt was let go (Dirs, mgs, etc)
@a7 That is what managment likes to see.
These layoffs will hit in various rounds over the next 12 months. Annual CIP planning starts on Monday 11/17, so notifications have to happen before the planning process in the database starts. This week is probably the end of Round 1 with the next round hitting mid Feb 2026.
They will continue till 2027, until headcount is reduced by 10%.
I wonder if they are dragging this out so the leftovers get frustrated with an uncertain future and decide to leave on their own.
@OP layoffs will be a regular occurrence. This restructuring is scheduled to continue through the end of FY2027, according to forms filed with the SEC.