I’ve heard they will begin laying people off next week and continue to do so over the next 3 weeks
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It seems more likely they will seek bankruptcy protection first, then during a 90 day as is period, the plan to get to a bare bones keep the lights on skeleton crew will be developed and budgetted. This budget will include some severance pay for the first round or two of layoffs and retention bonuses for execs that are asked to stay. After that 90 day, massive, massive rolling layoffs. Some that remain might get picked up by the new company that picks us up at a bargain and the money we receive from being bought in bankruptcy will go to creditors at pennies on the dollar. I think we will get down to 15-30% of current workforce. If there is no buyer, all will be let go. And without any severance.
Wow...what a prediction. This company has been top heavy from day 1. Yes, expect major cuts ... FINALLY. There’s so many layers of management that’s not needed. Redundancy in every department because of lack of skill. Unfortunately these cuts will trickle down to the techs that actually make this company function. I was told every department will be trimmed in effort to stay above water. Major restructuring will start in March. Good luck pilgrims.
I was told same by a reliable source. Good luck to everyone.