Thread regarding Lenovo layoffs

Layoff Logic

When contractors are exited, FTE follow shortly after!!!

FYE is June 30th and they don't want to drag the burden in to FY2021. You can see the writing on every wall and continue to ignore it. Ask yourself this: Have contractors been terminated? Have Execs left? That all lines up to sweeping FTE losing their jobs. DCG will be losing a large number of jobs this week. Almost all will be in the US.

As much as I would like to say that there are jobs out there, that is simply not the case at this point in time. There are no companies expanding workforce. Most are maintaining because of the bailout money they received. Once those terms are done, they will reduce workforce as well. IBM just laid off, Lenovo is laying off, and if you are not in the pharmaceuticals, not many companies hiring.

In a great job market like a year ago, it was easy to find employment. Not so much now. If you want to truly see the impact of being let go from Lenovo, take a look at your benefits. There is a little thing there about unvested medical.

Anyone with a lot of time in from IBM and/or Lenovo will see that little piece you don't get. In many cases it funds a good portion of your severance. It costs Lenovo little to let you go. I feel sorry for all those that stayed since the last one and more sorry for those affected by this one. Finding new employment will be 6-18 months process.

The other issue is that the pay is going to be drastically lower 1,000 people vying for the same position puts the power back to the company to pay less. Companies will also look more to contract work because it is easier in uncertain economies.

Nothing like working that way with layoff potential every day.

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Post ID: @OP+15b1K6Iv

4 replies (most recent on top)

Lenovo's fiscal year ended MARCH 30. June 30 ends the first quarter of FY 2020-2021.

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Post ID: @5nfk+15b1K6Iv

400 DCG FTE were let go as of June 30th

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Post ID: @2rrv+15b1K6Iv

4/1 Lenovo cut their only exclusive DCG distributor in the US - Arrow... 5/28 massive DCG layoffs... anyone left with a DCG badge prepare to trade it in soon for a badge with a new logo when Lenovo sells off the under performing DCG portion of their business.

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Post ID: @1xyk+15b1K6Iv

Lenovo FYE was 3/31.
Contractors were let go in DCG by 4/30
DCG business results were disappointing, but its leader: Kirk Skaugen is still in function.

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Post ID: @uhk+15b1K6Iv

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