Are we done with layoffs at least until 2026?
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https://www.odtmag.com/breaking-news/zimmer-biomet-ceo-forgoing-salary-during-covid-19-crisis/
It depends if he has reduced enough heads or reduced enough costs to boost profitability forecasts for 2026. If he hasn't done enough for this Thanksgiving round, he will do it in Christmas too, like he did last year. After all, $20M is not enough, he wants his $40M.
@e8 To answer that, I'd ask yourself how competitive you think your division's products are compared to the rest of the market. If you are noticing it has lost its edge over the last few years and customers have been slipping away then you should be worried as the yearly rounds of layoffs and attrition are likely to continue.
@ds it sounds like it is, but I still think it would be nice to know how long current employees need to be worried for!
@OP what if it’s a yearly affair?
I’ve heard employees are being notified through Friday? Anyone know if that’s accurate?
While I don't know anyone currently in HR (the good ones got laidoff), I do know a bit about the layoff process. SOLV only has so many HR people and legal to process a certain amount of claims per month. This means the current batch of human sacrifices is probably limited by that reality. This company was gutted by Mike before the spin.
I suspect another round will hit right after Thanksgiving, in time for December 31 exits. Don't be fooled by anything Bryan says. Like someone posted, he was a bald older guy until going thru a transformation in hair restoration and Botox. Besides, he is simply a corporate speak puppet of Nelson Peltz. Check out Peltz record at other companies he conquered. It's a 21st century Attila the Hun. Lots of scalps and carcuses left behind. So...short answer expect another similar round once legal and HR finish the current batch.