Seriously? This company is laying of all the useful people again and again - not sure how they are going to complete?
Many Layoffs confirmed in IDG....
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Does anyone else think Lenovo is waiting to see if vaccine mandates come back later this year?
All hands call should be interesting
As long as you’re in the clique of favored ex IBM-ers — who continue to protect their own ( even the low performers) — you should be fine!! It’s the other folks who questioned the status quo, continued to press for better reporting and accurate sales tools, and despite inept management (NOT leadership) still hit or exceeded their quotas- who have a target on their backs. And the useless highly paid experts who fly around and pontificate without adding value continue to remain safe. Most toxic environment I’ve ever worked in. Glad to be out of there. If you are on the list, you will survive and thrive. No one deserves to be treated like dirt.
Despite gaslighting internal comms, news says Lenovo Q1 revenue misses forecasts, hit by poor PC demand https://www.reuters.com/technology/lenovo-revenue-falls-due-weak-pc-demand-2023-08-17/
Anyone can confirm if ISG is affected? When will purge start and end????
Best thing to happen was to get laid off from Lenovo. The look on the manager's face at the exit meeting that I had 5 interviews already and 2 of those were past 2nd interviews. Took the job with the best benefits and track to retire comfortably. Got out of the rate race of Chinese IT companies. Now, make as much as I ever did at Lenovo, hefty pension, 100% 401k match. The best part, extremely rare to work more than 40 hours per week.
I mean ISG not IDG.
layoffs should be there, they change their name with every round of losses it is difficult to keep up.
Kirk will be next to go , he owns it
Lenovo Layoffs Again!
Seriously? This company is laying of all the useful people again and again - not sure how they are going to complete?
Many Layoffs confirmed in IDG....
From the 1st quarter results announced today, there is mention of IDG revenues , but nothing on actual profit.
They made a big song and dance about being in profit for the full year for the first time in 22/23. $98m on revenues of $10bn,
Turned over $10,000 millions, and made a profit of $98m, took 8 years to become profitable, but you would get better returns leaving the money in bonds, so why bother.
They tell us in business be led by the numbers , follow the data, make decisions based on the numbers not emotions.
If IDG went back in to losing money for the company what would you do next ?
They told you in last years summary - the company plans to cut costs by $850m, were do you think it should land ?
I believe fiscal Q1 and I’ve heard a lot of them now are focused on bottom performers.. of course all of this is speculation as I heard it from someone within the company
Q4 calendar it Q4 fiscal?
FYI They are already prepping for another round in Q4.. this is in addition to the round this month with last day of August 31st
Stock price not looking good at all. I wonder if this was the driver
This company is laying of all the useful people again and again
that comment cannot be serious, IDG is a millstone around the finances, and has never performed "usefully".
$50m profit on $10bn sales, we would be better leaving the money in the bank. Higher interest rates and save on all their executive salaries.
Hiring freeze.
Travel freeze.
Spending freeze.
Revenues down.
China economy in deflation.
What do you think should happen next ?
many people were informed in 1x1. heard last date is aug 31.
When did this start? I am in IDG and have not heard anything. They are pushing hard on Talent Card updates.