Either the LT is extremely good at guarding information or they have absolutely no plan that could be leaked.
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26th is a day, one week to pack. 2nd is the last day
yes
Any news when the actual lay offs day will be? Could it be this week?
15% cost reduction doesn't necessarily translate to a 15% RIF.
We know how many took early retirement and the future work survey should lead to more decisions on which satellite offices they will close. So hopefully the RIF is number is low
There are currently 9521 entries in the company directory.
Financial info indicates the need for 15% cost reduction. 15% of 8,500 - 231 = all out 1k. I would assume the cut will be between 450 and 800 people.
I have no idea where 1,600 came from sounds like a guess, but the person who posted below clearly has some real numbers, which is VERY much appreciated. That said, 1,600 would be about 20% of the workforce, which sounds like a number a rookie CEO would pick that is just trying to cut costs with no real goal in mind other than to prepare the company for sale.
The cut number is 1600?
745 people met the qualifications (55+ and 10 YoE). Of that, 31% accepted (231). As of 2019 there were 8,535 employees total, so 8.7% of the company was offered and 2.7% accepted.
It was only offered to people 55+ that also had 10 years tenure. That can’t be anywhere close to 1600 people. I’d be surprised if there were more than 200 or 300 people who qualified.
If it's 31% that's about 496 if the total 55+ of the company is ~1600.
Maybe this time NDAs are in place. Who knows. 2.5 weeks to go till nov
Cloud cloud cloud repeat
I mean... it will happen at some point relatively soon... whether people hope for it or not...
SM does not care about you or your misery. Stop hoping for something that won't happen.
I wish they’d hurry up and pull the trigger and put us out of our misery
Their "plan" is to soak up as much cash and options as possible and then run for the hills.