Accelerated workforce reduction. Listen at 33 minutes and 37 minutes
https://edge.media-server.com/mmc/p/hvxxuwfy
Straight from the horses mouth, after the most profitable / lucrative quarter in history!!!!!!!
12 replies (most recent on top)
Reductions will continue as long as business segments go away and automation becomes more exact science.
Listening to the audio, it sounds like the headcount reduction will happen in California and they are working with policy makers to allow that. Any thoughts?
"forgive him, this person got the job here cause he studied that 'new math'".
Or he's got family here in high places. It doesn't matter what he gets wrong, he'll always have a job here.
Funny, I thought Stankey initially quoted a $6.5B reduction in expenses.
forgive him, this person got the job here cause he studied that "new math"
@zzd+1meMJ16L Hey dummy, you missed a zero. Its more like 48,000 heads :)
OUCH, that's a gonna leave a mark!
6 billion in headcount reduction equals less than 5000 people company wide, assuming $125k in compensation package per employee. If we have almost 160k headcount, that’s a 3% headcount reduction. Not the end of the world…as long as you aren’t part of that 3%.
May the odds be ever in your favor.
Yep I saw the $6b cost reduction target. Going to be brutal.
6 billion is the target reduction.........That's going to be a lot of headcount reduction.
For context, this is the 2023 earnings call just posted this morning. If you're on a layoff forum/board, this is what you are all waiting to hear.