There is no doubt there will headcount reductions in the first month. But what if they are not just using the rooms for layoffs, but using them also to talk to about your about your role being "reclassified" or something like that. All in the an effort to cut your salary. BS has been known to do this in the past. This would be another "tool" to use to either make you quit, in which case would relieve them of your severance cost , or you accept the pay cut and they would save money that way as well.
Could this be true? Could we be looking at pay cuts as well?