Layoffs have started today.
5 replies (most recent on top)
They are trying to offshore everything they can. People are also leaving on there own. I think some of the layers of management might finally take some hits. Some positions they cannot offshore although they may try. That is when the rest of the company crumbles.
I sure hope this new CEO will fail dramatically. With so many competent and experienced people with 10+ years of service are being let go as I have heard of this cynical company does not deserve to have a future to count on. It looks like they are planning on surviving with only young and fresh (read inexperienced) employees in low cost countries. FLEX will soon become a dollar stock again. Time to divest.
The new CEO is taking the company back "to the core" or "down to the bones" depending on how you look at it. Understandable given the poor stock performance (CFO we're looking at you) however if you loose all your forward facing initiatives then the future won't belong to you. Continuous improvement becomes continuous survival. I think the numbers of good folks let go will be substantial.
Same, got mine this morning.
Yes, I can confirm this from being affected myself. I suspect they are moving more business overseas to Asia to save money. U.S. employees are most likely being hit primarily due to cost.