Very soon, managers will be asked to come up with a list of potential lay off at 5%,10% and Laos worst case scenario 25% cut.
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It’s going to be a “problem children” lay off, 2.5 and below. If that doesn’t cut enough off the bottom line, temps and contractors will go next. After that comes redundant Director and Sr. Director positions.
I don’t see older long term employees at risk. The job market changed and newer more recent hires were brought in with market competitive offers. If you’ve been here more than 2-3 years, you’re being paid less than your recently hired peers.
Layoffs are going to target those that are paid more…
Only 5%? That low? Is it enough to cover the loss of revenue?
Time to outsource all of the service groups…admin services, itcs, facilities, security, hr. That might be enough to save engineering talent.
I hear 15% in dev before bonus payout
Older, higher wage employees at risk. If you look back to last big RIF (2018), the company cut employees over the age of 50 that were making higher wages no matter their productivity. The good news is executives will continue to get paid no matter the poor results. This quarter showed what poor visibility the current management team has, inability to understand current market, inventory, weak Android market etc...led to ~10% drop in market cap over two days. I would suspect some of the Dec/Mar weakness is actually Sept but needed to hit targets for FY22 bonus, again top execs benefit from this.
This posting is bogus. Managers don't provide layoff lists. The list is decided by directors and VPs of each department.
5% seems really low. They can do much better than that cleaning house.
Depends on what business. QTL totally safe with only “problem children” being let go. QCT pretty safe except old people making money on the higher end and “problem children”. Everyone else better watch out because hold businesses may disappear
25% cut in the US.
25% hire in India.
When I learned that funding for my dept came from India. I left.
I work for a US company now.