Seems @1kkz+1lDau3rv is right on schedule……
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A halfway decent package for 30% of FTEs all at once would probably bankrupt the company. Not saying they shouldn't do it, just that they can't afford to.
FTE is fine. Everyone else, dust off your resume.
IMO, co should give a package to 30% of FTE for Riverbed to cut their losses. Lifers know who they are.
My vertical has already started to trim people and suspect there’ll be more. The layoffs won’t be mass but enough to hurt an already burnt out and overworked few.
Sad days ahead.
Unless the company is in serious danger of not making payroll, I think chances are slim of an outright layoff in that time frame. First, Bloomberg reported that the debt forbearance was six weeks from the middle of February, so probably there won't be action until the end of March. Dan's going to be doing his best used car salesman impression to persuade all the investors that the company isn't completely rotten and falling apart, so he won't want anything to undermine that until the negotiating is done.
After that, they're going to want the quarterly results finalized before making a move, and while they'll have a good sense by the middle of April, it usually takes a while. They need to know how much they have to cut so that they can avoid multiple rounds of layoffs, and they just won't know that right away. Plus if they're in talks to sell off assets, and I think Aternity and NetIM are likely candidates, they'll want to pretend they're in a stronger position than they are.
So, I do think either layoffs or a firesale are coming, just not before May. If I were on the IQ team especially, I'd definitely polish my resume. If that product doesn't get canceled in the next quarter it'll only be because Dan and Torek are too embarrassed to admit it's such a complete failure.
My Magic 8 Ball says "It is certain."