I see that the last day for the people who got let go today, 1/15, is 4/2.
Garden leave used to be 60 days. Why is it more this time? Or maybe they just want one common last day for ALL employees.
If so, all announcements will be made by 2/1.
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Anniversary of merger April 1.
April 1 2020 was the sprint merger. April 2 2026 is probably when a lot of legal obligations on jobs to different states expires. Also it's the beginning of q2.
What orgs had layoffs today?
Maybe they plan to lay folks off during the entire month of Jan...! That way, the April 1 date works for every separation letter!!
@a7 I'll take that.
Could be to provide one additional month of healthcare, since that is calendar month driven.
As if the stock is gonna do wonders after the layoff announcement.
Those days are past us. Stock won’t ever go above 225.
Yea, WARN act
Which tracks with the earnings report on 2/11. They want all this done before then to settle the market.
Isn't the rule that they do 60 days from the WARN Act notification? If the WARN notification isn't going out until other teams are done with their cuts, then it would be 60 days from their notification date, not today's cuts.
So I think your 2/1 announcement reasoning is correct.