Heard that some restructure happening in some teams, are there layoffs expected?

Fortinet, laid off some employees this month after their stock took a nose dive.

FortiNAC product line from Fortinet. Concord NH office impacted

Each quarter the CEO takes a loaded question "from the audience" at the all hands about whether there will be layoffs or not; each quarter he says there will not be any. In reality, Fortinet is making layoffs every quarter without announcing it -... — read more 

I am seeing LOTS of LinkedIn “open to work” posts this week from Fortinet employees. Was there a major layoff this week/last week? Saw several Sr. Director/Director level plus some individual contributors with discouraging posts looking for work. — read more 

Upper management has confirmed massive layoffs happening in support and service sector. No one is immune even cybersecurity sector. More than 50% of the support teams will be laid off

My team is going to merge with other team to redesign one existing project. So there are about >15 engineers going to get laid off

Been hearing whispers that they are laying off a lot of people soon. Any substance to those rumors?