There are a lot of rumors going around about it, but nobody can give a whole picture or really confirm anything beyond personal experience or that of colleagues in a team. If it’s true, what may be the reason? I would think they would want to get rid of as many people as possible by VSP before they start with layoffs.
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Just got my approval letter today. 😉
They can’t afford all of them. They can’t afford to pay all those packages. ISP majority will not receive a package
FAB28 - ISRAEL, Most VSP approved, just very few denied. Happy day.
Could be preparing to sell off Foundry business with the headcount. Buyer would then do the dirty work of right sizing.
No application (except single point of fail or if the entire team applied) have been denied.
Because we only need to loose 15% and 40% applied?? No rocket science, 15% will be excepted and 25% will be rejected.
Very happy I got my vsp approved. Next job is waiting. Just be patient folks
for a positive perspective..
perhaps an uptick is forecasted in the business, so they foresee keeping the headcount relatively stable over the upcoming 2 quarters into early 2025?
for a negative perspective..
perhaps they are re-evaluating the high costs of such generous severance packages and will require that managers enable more "less expensive" separations using PIP or other performance management methods to drive people out of the company?
Because obviously they don't want to get rid of useful workers, no one wants to repeat mistakes of ACT.