But why? The reason is probably that staying here is much worse than getting cut. Most of my colleagues who were laid off say that it was a real blessing in disguise because they are now in better companies.
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There is 2 billion dollars that could be used for merit increases or at least a bonus. We could give each of the 130,000 employee’s over $15,000 instead of using it for buy backs.
There is insufficient funding to provide pay.
There is insufficient funding available in Q1 to provide severance pay to team members.