In any case, no matter how many of us are affected, it is bad. However, I still hope that the layoffs that everyone is talking about now will not be huge. Anyone with a bit more detailed information? How many people could be affected? Who could be the target groups?
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you can not simply multiply by 4 to get full year revenue because revenue stream is not flat over the year..
People have been leaving at an alarming rate so I think layoffs will be much smaller as a result. The place is a mess and no confidence in leadership.
An educated guess based on the WD latest financials would be 17 - 23%
Reported >> FY22 revenue was ~~ $18.8 Billion, Q1 FY23 is projected to be between $3.6B and $3.8B (multiply by for to extrapolate to full year FY23 is $15.2B on the high end of the estimate)
(FY22 revenue - FY23 projection) / FY22 revenue = ~~19.2% revenue decrease in YOY revenue. That should put you in the ballpark of the aggregated cuts (natural attrition, performance, and layoff) ~19%
The only issue with this assumption is the timing of the natural attrition which the company doesn't have control over. If all of the natural attrition happens in Q1, then the total reduction in heads (layoff, resignation and performance related) will ~~ = to 17.5 to 20%. If the company feels this is not a realistic assumption and they need to cover for the impact of the timing and phasing of the natural attrition they will have to go deeper than the calculated estimates...
There is NO INSIDE information here (all $$ numbers used in this calculation are in the company's latest earnings release)!! By a person who knows finance and restructuring all too well and has the education and experience to read the financial tea leaves
Well, IT team have pretty much all walked out. HDD sucks. SSD sucks. HR sucks. Sales sucks. Corporate Comms sucks. C Team sucks. so...it could be just about anyone getting fired. Company is full of mediocrity!