Do people who say there'll be 60% or 70% cuts ever think before typing? Cuts that large would make it impossible to do anything. It would decimate profit, which, you'd assume, is why we're being bought. To make more money for them. Yes, there'll be cuts. It will not be insignificant. However, it sure as he-l isn't going to be anywhere near 70%. Think before you type, people.
7 replies (most recent on top)
To the original poster. I used to think like that too. I was at a small enough and private company that even you could even small talk to the C levels in the hall. No mater what I was facing I was able to stay resilient and positive. I was known for this.
Since the 1950s the company was always a technology adoption and was known for employing people until retirement. If jobs or departments were eliminated they would be offered other roles even in other divisions.
When they announced the “strategic sourcing” plan in 2019 I was sure they would RIF just one or two non-performers on each team and augment our staff like they said. This will get rid of the busy work so you can focus on work that drives the business they said.
I always offered all the senior executives white glove support even though I was a lead on an application delivery team and helped all IT teams where applicable. I was well liked and had many accolades from the senior leadership. I was considered the superstar of my team. I received my first AWS certificate and was planning to pilot Azure virtual desktops…….
I was laid off in the first round of 100 and trained my offshore outsourced replacements over WebEx………….
The one or two LEAST expensive and LEAST performing team members kept their jobs……
They were laid off once the outsource offshore team was up to speed the next year - another 100.
Any functional human being who had anything at all to do with IT was laid off also - another 100.
Only slackers get laid off they said, only quitters get laid off they said, they always keep the best people they said…
It’s a different world now, that era is behind us…
Think about it straight. They alredy let 15 % go. The next round would be another 15 to 20% on the current workforce, where 15% will be in APAC and 20 everywhere else, like US and Europe.
Meantime people are leaving the sinking ship, jumping off like crazy.
A conservative estimate would be 30% to leave on their own, from June 21 to the Vista closing in 22. A realistic number would be 40-45% of the workforce will leave and may get replaced. In my team, we lost already 50% of the team members, the backfills, just 1/3 in us and 1/2 in India.
Combine the layoff and volunteers, it would easily reach 60%.
Don't be leme, don't trust your desperate VP or Director, telling you all is fine. Find a new job, the market is super hot, if you have skill.
And to address most of the speculation, my team did not get affected by the layoffs. I am leaving too. Hate all the uncertainty.
Citrix USA: 83% male, 63% white, so indeed the layoffs ought to hit white males hardest. But they likely won't. It will just feel that way to some of the victims, because its easier to be angry at those people instead of system that is rotten to the core.
The cuts are going to be huge. Citrix profits are less than 10% right now. They will need to go way up. Expect regular layoffs every year.
20-30% personnel cuts, but 40-50%+ of the salary, benefits and employee cost structure with disproportionate cuts in the US and Europe... especially in the 40+ age group.
The number floating around is 30%. My guess is more around 20% as I feel we are already understaff everywhere but even at 20% it is likely that must of the layoffs will happening in the US. I recall a post a long ago taking about this.
Normally, they do their second round of Layoffs in February, but my gut tells me they will wait for later in the year as there is too much going on in Q1. Either they will do cuts all over the place in small amounts or do a bigger layoff at some point closer to June, before the deal closes.
Likely, it is better to get layoff before the new owners take over... their packages will be significantly less.
This is the best time to look for other opportunities. It can take months to find something great, so start looking now, apply here and there, get the offers. If something better appears then take. Right now you can negotiate with other employers, but once you are layoff the pressure is bigger and you may endup somewhere you dont want to.
There may not be 60-70%, but somewhere around 30-40% won't be unheard of. If you break it down, there will be 60-70% reductions in age and race backgrounds. If you are 50 or older, be prepared. If you are male, be prepared. Then, if you are white, that is even worse. Going at this blindly will not be good either. As a private new owner, they really owe nothing to the employees. They can do a layoff with no severance.