"we now expect workforce reductions to approach 15% when accounting for attrition through the end of calendar 2023"
I guess they got rid of enough people to bring back raises and bonuses sooner than expected.
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10 months later... Who knows what will happen...
Read the Q n A, the base pay increase in Nov 23 is not guaranteed... It depend very much on market situation.
The email literally says "We previously announced base pay and bonuses are suspended for fiscal 2023" and "we plan to provide base pay increases in November 2023 and reinstate fiscal 2024 bonuses"
The bonus for 2023 was suspended for sure, and nobody knows what’s next. The email has nothing to do with bringing back bonus and raises.
That's because November is already end Q1 fiscal year 2024. They had already said pay increases weren't going to happen in fiscal 2023.
What is bad is how the executives team forecasting is so bad. Going from 10% to now 15% is quite a large jump. True bloodbath in layoffs.