I had a frank talk with my manager this morning, who is a long-time friend.
Asked if I wanted a "retirement" package, as layoffs will continue until there's profit. My manager may get the cut, but will try to get me on the cut list if I want a package. VPs are dropping hints to management that this might be the last opportunity to get nominated for a package before it goes to HR formulas.
Also mentioned that there's not much future for the younger ones here at the moment, as they're offshoring much to lower-cost geos. Thus, if anyone gets a good offer, don't wait; just seize the opportunity and move on. I can't see light at the end of the tunnel for the near future.
Asked about the $5B Nvidia deal. Basically, I think it's a forced donation, and there is no clear direction on how to execute it yet—too many meetings without a runway. Our dev team is gearing up for this, but $5B won't get very far. If funds run dry, this may get moved to a lower-cost geo or ZBB.
Also, they said that there will be light at the end of the tunnel, but not in the near future, and I'm not sure how many of us will fall off the wagon as we travel along. Thus, the personal anxiety and stress may not be worth it.