It's all about trying to become profitable so they can sell the company IMO. There will be a number of layoffs happening on 8/1/23. The major move so far is that the COO is out. I assume most of the cuts will be us little folks. 99% sure I'm on the list.
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Current employees as well as terminated employees are being INSTRUCTED to not discuss layoffs for reasons cited as "privacy and respect". This is HIGHLY ILLEGAL, as discussion of employment conditions are a protected right in the US. This could be an attempt to obfuscate the total number of laid off employees in order to dodge a violation of the WARN act. Former employees should organize.
even I got laid off and paid very less severance
I counted around 120 total, from the severance letter if it was true. Those laid off had a severance "YES" next to their generalized title. I was one of them.
Was laid off on the spot, not warning and all accounts shutdown by the end of the business day. Severance was VERY underwhelming compared to other Silicon Valley companies.
This company is in trouble and continues to be. Most of the C suite never stays.
I've heard up to 200 people were laid off, and varying severance packages. I had five hours' notice before they cut all access off, but severance was equivalent of 3 months' pay and a bonus. Extended health benefits for a month, and of course the "It's not performance-based it's just RIF" This company needs to be bought by one that knows how to run a business- it just keeps getting worse.
guessing AA wants to boost profits to prepare to sell
Looks like 100 total people impacted across multiple BUs.
Clarification on that comment that WARN was violated. If the population of the RIF hits the WARN trigger, then the company can notify people like they did yesterday, then give them 2 months of non working and paid time and then sever them at the end of the two months. So the employees remain employees during that two months then are terminated after two months. That counts as two months notice and is how most companies in Silicon Valley have done this.
Still figuring out the total layoff number, impacted people may have a lawsuit if the company is in violation of the WARN act, which says mass layoffs of a certain number of people require mandatory 30-60 days notice, which they did not give. Here’s the CA ruling https://ogletree.com/insights/californias-tech-layoff-bo-m-what-employers-need-to-know-about-federal-and-state-warn-act-triggers/
Been a tough day for many...