Information from the extensive deep research:
My base case is that a broad, post-earnings layoff announcement is unlikely, but selective reductions, tighter hiring controls, or reallocation out of slower-growth teams remain plausible. On the evidence available before the May call, I estimate the probability of any publicly visible layoff action within roughly 90 days after the call at 25%–40% (medium), with the probability of a broad company-wide program above 3% of headcount at 10%–20% (low). Confidence is medium, because the company’s operating trend is clearly improving, but it has also shown that it will still prune selectively even during periods of rising revenue