The reviews are taking place now even though the fiscal has 6 weeks to run. Managers are reviewing self-evluation forms for "phase 1" employees that needed to be submitted before the 16 Feb deadline. All managers ratings will need to be approved by L2/L3s. According to the official HR schedule the final meetings with staff may not take place until March/April but by this time the appaisal ratings are locked in. Underperforming staff will be exited as soon as possible (early April).
Bumped from @RPNdLce-jcp for info.