Layoffs in December.
Top line execs will organise structure mid November. Will everything in place before 1st Jan 2023.
This is reading between the lines of what has been presented.
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Again, I was LITERALLY told that everything is going to be done by December 1st. The new management actually calls that date "Day One."
This is a private company right now. They don't have any public market deadlines. The only deadlines are signing big deals and renegotiating deals with vendors like:
- - real estate
- - health care in the US
All of these can be pushed back, because the company don't have to report on quarterly basis.
Wrong
And, my December 1 comment isn't "reading between the lines." I was TOLD that by management. It makes sense because that is the new fiscal year. One-time expenses (like severance) need to happen before then because you don't want them affecting the bottom line in the new fiscal year. Get it all into 2022 as much as possible.
No, that is completely wrong. January 1 is not the date that everything needs to be in place. December 1 is.
The reason they won't say anything is because they are not ready. They also want to ensure that we focus on closing out Q4. It's an ugly situation, but yes ideally you would just rip off the band aid.
If only we had clear update from the management as to when the layoff will happen and which all org will get impacted, this panic and anxiety would have reduced.
Interested people could have continued to work, rest could have prepared and left.