TPE layoff list will be executed on 10/3(Wed), thanks for the guy who works hard in Verifone....WTF~
Anybody here knows if this is true? And if it is, can we get any more info on it? I really didn't need to read this today. I'm stressed out as it is, worrying about more layoffs tomorrow is the last thing I needed.
Worked at VeriFone fo 19 years and retired but I know how it worked over the years it was first owned by HP then sold and then sold again the quarter ends were always a-- busting time but I hear not so much any more it needs to take care of the employees it they want to take care of its customers...
Verifone was already larger than it ever should have been but what's happening is an overcorrection. It's very likely that FP wants to completely get out of the business of making hardware. Hardware will be outsourced to third parties.
TPE is put on hold by the local government there and taking longer than expected. This means that the number of cuts VFI will make will be large!
Tpe is going for sure.just a matter of when due to labour law.this team was brought in during pauls time when an entire group was retrenched.
Can anyone confirm or deny if this took place?
I have a feeling FP is not done yet. They will likely do further cuts after the last group, Dec 31st, have transitioned out. And because these second cuts will be less than the numbers set by CA, they won't have to do notifications with CA and the severance won't be as nice.
My guess is that 25% of the Rocklin and San Jose office will go. There will be a skeleton crew left behind to support the most essential tasks. There's a lot of functions where 3-4 employees are left after the initial cut. These groups will likely be eliminated. You know who you are.