There were layoffs on Monday and Tuesday (6/17 and 6/18/2024) resulting in around 100 people gone from the company from what I'm told. The cuts appeared to have been in all functions including some IT people, program people, accounting people, along with procurement losing a number of people.
Layoffs were rumored before the fiscal year ending later this month. Layoffs have become commonplace with this being the 2nd large RIF this year and 3rd since August of last year. Large cuts seem to be over but since August 2023 there's been a steady outflow of talent every month.
Mercury appears to be circling the drain as the financials are still abysmal despite our CEO trying to spin it as a 'transition year'. Leadership keeps changing and the org keeps restructuring, there are rumors of site closures throughout the next two fiscal years. Customers are still frustrated as we cannot meet our commitment which may be related to the loss of talent and we end up having to change the terms of the contracts.
All in all, the CEO is from Private Equity and is trying to make sure the company is cut as thin as possible. Who knows what the company structure will look like in 2 years and what will remain of Mercury. I wouldn't suggest anyone to join this company until leadership is sure of our direction and executives aren't being replaced every two months.