business is not picking up as forecast by our crack management team. Lumileds cannot pay it's huge debt load ( Thanks A--holes at APO) so more cuts in headcount coming soon. Morale hitting new lows.
Layoffs in next two weeks
Layoffs are expected before April 19th bonus payoff. Numbers of 15-20% cuts are expected. The planning for this has been in the works for quite some time . Previous CEO changed ranking system to allow 5% of staff to be laid off yearly. New CEO knew... — read more
Any updates on Lumileds layoffs? How big and how deep?
Do you know what's going on right now and how much does Apollo plans to cut over next six months. I know that there were cuts in the past but I wanted to see if Lumileds plans to continue cutting resources and to free up the cash flow because that's... — read more