I have been told to expect cuts in the coming months, specifically August. As far as recent cuts made, some were expensive and others were not top performers. Who knows. Some of the cuts have gone after long tenured employees, who probably made good money and hefty LTI if they qualified. Replace them with a junior for half the cost.
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@OP We all expect it and know it's coming. But if you are anything less than a director, I really think it's better to be laid off.
@ad not financially necessary? All they talk about is ROI. Cuts will not stop until they hit “this” number
300 more cuts in May were apparently majority in the over 50 yrs. range. The cuts are not financially necessary, so they are likely being made to make the market believe they're running a tighter ship, so to speak. They've been working on getting out of conservatorship (which has lasted about 16 years beyond acceptable), so in a morbid kind of way the layoffs make sense.