Hope you survive the upcoming mass layoffs
93 replies (most recent on top)
Rumours today suggest it’ll be tomorrow or Wednesday. SG will then position it as strategic during the earnings call on Wednesday afternoon, and will spend the whole of SOC next week explaining to the leftovers why he thinks it’s a brilliant idea. The vibe in the office is horrific. People have given everything they have to this company and the consistent threat of being laid off or being forced labelled as DNME has done endless and irreparable damage to the culture.
Good luck everyone
I actually don’t know what’s worse, the never ending waiting for it to happen, or the thought of NOT being laid off and being stuck there after they get rid of a bunch of wonderful, intelligent and highly capable people. They’d get rid of all the good leaders and you’d be stuck with a bunch of spineless, incompetent, inept yes people. The whole thing is a dumpster fire. Culture is in the toilet. And they are making it abundantly clear they no longer care about the people. May they never enjoy the cold side of a pillow, never find a good parking spot, and wishing them stubbed toes in the middle of the night when they go to the toilet, forever. Boooo. Double boo. Triple boo.
@ng just throw me into the fire and get it over it
Layoffs is necessary. Stock price is going south.
@rh no how it works. They announce, then file WARN. You stay on payroll for 60 days to cover the WARN period. There will never be a WARN before an announcement.
@sc the Brad era was the best era
I miss Brad Smith so much. Good guy too, unlike Sasan.
I'm just glad some of the incompetent leadership already got canned, like Tessel. No idea how she got as high as she did.
It is more probable that Intuit announces the layoffs as part of a larger restructuring and strategic pivot during the earning call on 5/20. Announcing a restructuring alongside earnings is far more powerful. You get to control the narrative (which they botched last layoffs). CEO and CTO on the call explaining why the organization is restructuring, what it's restructuring toward, and what the financial impact is. Investors hear it as a strategic move, not a panic cut.
I heard it’s not happening as Intuit’s needs to register the mass layoffs and that has not been done yet .
I am not worried about the impending layoff. I am worried about the completely directionless state of Intuit under SG's leadership. Hopefully he is the first one impacted by the layoffs.
@jv what’s with this post? Troll?
Yeah it’s cycles … it was a good run and now a reset then another run
Cisco just announced its cutting jobs to have more cash flow to invest into more AI....stock moons towards a record...
Is this the strategy ?
@np yup they are replacing themselves
@nn software engineer
@k4 what are SWE’s?
@nk by my previous employer. So I hope it doesn’t happen here
I was already let go
@k7 source: just trust me bro
Human sacrifice is coming
@n6 Earnings are on May 20th, having layoffs on the 18th would overshadow earnings report. Also, most of our peers have done layoffs at least 1-3weeks before earnings report.
Why Monday specifically? I remember the big 24 layoff being on a Wednesday.
Everyone was soooo quick to thumb me down when I said Monday would make more sense
If something like this were to happen only a handful of people would know and I doubt some “director “ would go on hear and warn people , it’s all guessing here
The thinking is that the stock is way down and the board is going to start demanding answers. We're one of the worst performing stocks on the market.
Companies in better shape than us have done huge layoffs-- it's industry wise. DNME can only get rid of about 10% at a time and usually those are backfilled but importantly doesn't send any sort of message that we are "taking action" to address the situation-- performance management is expected as business as usual.
The timing of before earnings is in line with other companies and makes sense so it can be explained on the earnings call to reinforce the message that we're refocusing and we're AI driven moving faster and yada yada corp speak.
So, that's why everyone thinks there will be a layoff. The question of when or who or how many, that's all gossip.
Why do we think a layoff will happen? Isn’t Sasan much more likely to manage people out, brand them as low performers and save on severance?
@n1 shocking news out of silicon valley today, anonymous poster is troll
The Director comment was not accurate?
My body is ready
@mw you are correct
I dunno about anyone else but I’ve just got the jaws theme song playing in my head… dur dum, dur dum, durr dummmm 🦈. Just get it done already! I VOLUNTEER AS TRIBUTE!
Email would have come by now, 15m to market open. No jump today!
@mv No. I checked last night. Email was at 5:01am PT, then cal invite between then and 9am PT. Doesn’t look like it’s today.
@mr Sasan sent a company-wide email later in the day after impacted employees already had their meetings
@ms we are all stressed
So do we think that “director” was a troll?
@mp But won’t we receive a general email for the whole company beforehand? What happened during the last layoff in 2024?
@mp which means in 4 hours from now ?
@mm emails would go to those impacted at 9am pt