Rumored it’s 7% world wide. 700 people. Biggest hit will be Engineering ASIC, hardware groups. Other groups will be 5-8%. Hearing that CAO is pushing to move work to Bangalore by eliminating US positions. Pressure on gross margins.
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Cisco just had a layoff today. Severance package is not as good as it used to be..
Folks in Bangalore, is it happening now?
from @PAIwmvz-2rwk
Rumours are heavy in EMEA about the impending layoffs. BUt we have not heard anything concrete. The brickheaded new EMEA boss, since he started in July, has told us multiple times that he is "about numbers only" and knows only one way to meet them. At the last-all-hands call told us explicitly that "numbers needed to improve" and for us "to accept the oncoming changes". The message is clear. Our products , except for the Telco routing and DC switching platforms, cannot compete. Arista and even Cisco are ahead of us in datacenter (look at Gartners). SDWAN is immature, not nearly ready for market and Cisco already has production level deployment of SDWAN with Viptela and NSO. Customers have no confidence in Juniper Security products - last quarter alone we missed 4-5 millions in sales for security alone. The writing, if the pub-brawler of the new EMEA boss is to be believed, is on the wall.
12 minutes ago by Anonymous | Post ID: @PAIwmvz-2rwk
Heard cloud team Bangalore will be impacted . It may happen on 10 Oct
s in line. It’s 24 not 11.
It's the week of October 23.
Here is my updated understanding. Again, feel free to correct me if I am wrong.
According to this FAQ
http://www.edd.ca.gov/jobs_and_training/FAQs_WARN.htm
There is a defination of "layoff date": "A worker’s last day of employment is considered the date of that worker’s layoff."
So the Oct. 11th we are talking about is NOT the "layoff date". It is the notice date. On that day, if there is a layoff, impacted empolyees and both state and local representatives will be noticed. Then impacted employees get to be on payroll for other two months, which fulfills the 60 days requirement of WARN act. Then after that two months, Dec. 11th is the layoff date.
So even if there will a massive layoff notice on Oct. 11th, it is normal that it does not show up on WARN report before Oct. 11th. As a reference, notice date of the layoff on March 1st is March 1st in below report.
http://www.edd.ca.gov/jobs_and_training/warn/WARN-Report-for-7-1-2016-to-06-30-2017.pdf
http://www.edd.ca.gov/jobs_and_training/warn/WARN_Report_for_7-1-2017_to_09-25-2017.pdf
This seems to be the latest WARN report as of today. And it only has filings before 09/25. Notice that "notice date" can be the same or even after "effective date" for some companies. I might be wrong, but it looks like a company can just file the WARN notice on the same day layoff happens. Although a company of Juniper's size should provide 60 days to the impacted employee, but I don't find a restriction to ask company file a WARN X days before layoff. Not sure if I understand correctly but feel free to correct me and share some links on these.
That is not the WARN notice. This is the standard Change of Control agreement. This was also put up last year around the same time and prompted rumors that the company is up for sale.
https://www.sec.gov/Archives/edgar/data/1043604/000119312517274360/0001193125-17-274360-index.htm
Are you guys referring to these?
I may have gotten this wrong but if they were laying off 7% on October 11,then won't the notice be up with SEC already?
Where are the terms for SEC? I thought they only need to give 60 days notice under WARN act, which is why the severance package should be at least two months.
If it's really 7% then don't they have to declare to SEC beforehand under California law?
Bad timing. HPE/Oracle/Cisco just had sizable layoffs. Job market for similar skill sets might not be good.
I have heard on similar lines.