Layoffs happening currently, many more to come. Cutting leadership and outsourcing line positions. Cutting long term employees. This company is in trouble.
Can we get more info on this? I've heard some people were let go, but there are no details. Not asking for names, just numbers and locations.
I don’t think the company is in serious financial trouble. It’s just moving forward with an outsourcing strategy that has been in the works for years. The interest rate cuts and decreased revenues are not the deciding factors. Just a convenient spin.
5 % cuts were announced during the Q3 earnings call. The company has roughly 10k employees, so expecting at least one round of 500 personnel laid off by the end of the week. Some employees are asked to leave immediatly while others are being offered to stay for the rest of the year or some time in between.
Spoke with one employee. They said that 8 people in their department were let go yesterday.