Heard from one of the senior managers significant layoffs planned to try and get expenses under control.
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123 in San Jose according to the Warn list on the CA government site. Intel looks like it is having a huge layoff at the same time with 128 people. The semiconductor business is not as rosy as the media is painting out to be for this year.
Some top brass over with us in Xilinx, Ireland this week. What does it all mean? Will it be reassurances of stability or wishing us all the best with our future en-devours? Time shall tell.
Summer shutdown implies they don't expect the numbers to pick up anytime soon and are penny pinching in order to appease the shareholders. God love the poor families who are having a terrible start to 2020 as a culmination of many years of bad management and strategy. May they find a better employer soon.
While people are definitely being laid off, the bonus program has not been sc-apped for 2020. And yes there is a summer shutdown for a week for everyone.
Over 160 in US offices made redundant this week. No bonuses, RSUs or Promotions in 2020. Everyone forced to take the same week off in the summer in a bid to save money on site electricity and heat costs. Really grim.
I hope they take a good long look at the demography of those being laid off. I suspect it will be over-40 workers that have been with the company a long time.
Heard some ppl in San Jose have been told about their layoff already..
Rumoured to be 130 people being let go from Xilinx Ireland. 6 already made redundant. More to come before the week is out. Hold onto your hats boys!
remote sites are the cause of low productivity
Real question is how long until Victor Peng gets pushed out. So far he has only had failures with his decisions before and after becoming CEO. I suspect a 7% layoff will not be sufficient and I would also guess a reasonable amount of the 7% will be productive people while unproductive people will still be around. At some point the massive number of directors and VPs needs to be trimmed. They have so many it is amazing.
Just stay home
It’s happening now
I suspect people will start hearing soon, maybe today. Look and see if conference rooms are booked.
Which orgs are affected? Which departments are are protected?
The announcement of 7% is an attempt to appease wall street I suspect more will be coming. Xilinx has added significantly to their R&D spending over the last several years. In most cases the added headcount has added to the bureaucracy but not the bottom line. They have a huge number of people in engineering that do nothing productive. They have done blanket promotions in most cases with no real business need.
they just announced 7% after earnings call
yeap... it's coming
I am surprised it didn't happen today. I suspect it will be this week sometime.