Email to employees bottom Lores announced his intention to make cuts so the question is now that he has announced it when will it occur can't have this sitting on employees for months.
15 replies (most recent on top)
@zs the chopping it up and making it look like a more attractive purchase is not wrong as well.
@zp I had wrongly assumed they were going to string their poor employees along, never knowing for sure if they were safe over the next two to three years. I think it's somewhat of a relief to just get it over with, and move on with your life. I'm still of the opinion at the company will ultimately end up being chopped into pieces, and they're just trying to pretty it up a little bit on paper. I could be dead wrong though.
@w6 wording is accurate. It's at least 1.5bln. They cannot sit on things for 2 to 3 years, they need to move and fast. It was clear from the internal meeting that most of it will happen in the next 2 to 3 months prior to next earnings
@w2 I believe the wording was a cost saving of at least 1.5 billion over the next two to three years. From AI and layoffs, Etc. However, I think some people read into that as the layoff being staggered over 2 to 3 years which I'm not sure is true or not. Personally, I think I'd rather know sooner than later if my job is affected then feel strung along for the next couple years. Whatever happens happens though.
Months or years? Can we get some high-level comments? Can someone confirm?
@tf I thought they said it would be the next two or three years?
@OP He said in the all hands that the next round will be in the next 2-3 months
@g6 of course! They did the same in my company as a proactive measure. The problem was only the best people ended up leaving. Why? They were the most skilled and could get a job in this very soft Market. PayPal is likely following a similar Playbook with the RTO mandate likely soon. That in the threat of layoffs over the next two to three years would drive anyone insane. People get a comparable job they'll jump ship.
@am I'm curious if there will be more aggressive RTO to encourage some people to self-fire. I'm in a department that's thin enough that we haven't been hit with it yet but they're clearly hoping to chop off some people voluntarily before having to pull the trigger on large-scale layoffs and possibly severance.
I think they put the long term plan out there hoping people would leave on their own and then they just won’t backfill. When not enough people leave on their own, then they will cut.
@ae the entire board should be fired.
CEO and CFO are 🤡s can't figure out how to improve a tech stack and save jobs.
@a8 what's not to believe. They publicly announced they are intending to cut staff.
It’s all BS… I don’t believe layoff at all until it’s real.
The CFO is magical. She opens her mouth and billions in market cap disappear...