Was informed there would be another huge round of layoffs in mid Sept. Is this in Tech?
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I heard the Raleigh, NC office received their notices. is that true?
@a9
Too funny.
TLDR but you will comment on it.
TLDR doesn't cut it in life.
Keeps you ignorant.
@a8
Right on!
Closer to 155k of us left. That bigger number includes outsource, and no one cares about them.
It’s a constant drum beat. Each round there is another zzzz of a former coworker that knee something. Replaced by a person who doesn’t know the role and is missing deadlines. Don’t ask for whom the bell tolls, it tolls for thee.
@c5 Myself and several others got laid off and I don't see a warn notice for our state. Some are better than others.
@c1 are you saying it is normal for 1000 people to get laid off on Tuesday after payday? If that was the case you would see the WARN notice is coming out every 2 weeks.
Another round 🍺 🍻
Because 1000 layoffs is within the normal range of a Tuesday after payday. It’s been this way for about 4 years, except before it was on Thursdays.
@b3 It literally is gospel. It may not always be fully accurate, but hundreds of people are being laid off every 2 weeks. That's not rumor or speculation, that's fact.
@bb since we worked at a company with 276k employees, that’s when 1000 became a “meh” number. Granted we’re now down into the what, 220’s? Still hardly statistically significant. Especially considering how many are rehired.
hiring in India is a fraction of what it was due to various hiring freezes.
Since when is 1000 people getting canned at once not "big"? It's all subjective I guess, but at some point you run out of thousands.
@ak because people treat rumors as gospel around here
There will be layoffs every other Tuesday for awhile. They're all about 500-1,000, no more. So, there isn't really a big layoff day. They're all small and medium days. Death by a thousand cuts
Know I'm getting fired " location strategy". Next year will be heavier still. Get yourself sorted.
lol if you were the one informed then why don't you know?
@a8 you should really have Chat-GPT write for you. Even AI slop is more comprehensible than this.
I hear tech is affected.
@a8
TL;DR
@a3 Yes, Wave 4 of location strategy layoffs is coming in Q4. Supposedly there are (almost) no exceptions this time. I think they'll complete the wave before the end of October for the following reasons:
1) Keep restructuring charges and severance liabilities in the current fiscal year. (Wells fiscal year is Jan to Dec. End of Oct + 60 days gets us to end of the year)
2) Start the next year without carrying over layoff-related costs.
3) Avoid WARN obligations spilling into Q1 of the following year (bad optics and budgeting).
Yes the broader CDO teams. Don’t let this meeting today make you think any different.
Yes, big one coming for Tech.
Aka Tech..nami coming.
Budget cuts for 2026 implies people have to go.
I guarantee there will be a big push to get people out BEFORE October 28th because they can then avoid 401k match (Dec. 15th cutoff). So I bet the next 4 Tuesdays will be a big push regardless of holidays. Big push days:
Sept. 2nd, 16th and 30th
Oct. 14