Have heard from several people that something's coming around the July shutdown. Do we know how widespread this will be? (FYI, I'm not a troll but an employee attempting to figure out a game plan to take care of my family in this current environment.) Only reply to this question if you have some real knowledge to share, and not just speculation. Thanks
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I can confirm that there are no layoffs being discussed or planned at the moment. I would know. As others have rightly stated, budgets for FY2021 aren't quite done yet and Thrive awards have not been finalized.
Why do people make stuff up? There are no retention bonuses being paid this week. Thrive awards (bonus and RSU's) won't be out until next month, they are still being finalized. There is no "retention bonus" per se, just RSU awards.
And yeah, this is a weird place to "game plan". This is just a place for people to stir it up.
What’s a retention bonus?
After the retention bonuses are paid this week layoffs may not be necessary. Anyone with skills will be moving on and backfilled with cheaper less capable replacements. Take the money and run as fast as you can before the Titanic goes under.
I was told yesterday by my boss to expect my team to be cut by close to half. I asked how worried I should be, ie how are they cutting by role, by office, by ??? He said I don’t know when, how, or the exact number, we were told to stack rack by role, and then identify which jobs can be done by another team. I asked if it was just our team, he said no, it’s from SVP down.
No, there is no layoff plans at the moment. Budgets for Q1 are still being buttoned down as are Thrive rewards. But like the other poster said, they are coming for everyone at every tech company.
"Only reply to this question if you have some real knowledge to share, and not just speculation."
Yet you speculate, based on a rumor without any context.
Then you come here, an anonymous forum, "attempting to figure out a game plan to take care of my family in this current environment". This is probably not your best source for game planning, your boss is. So this is all very suspicious.
But, I'll play along and I'll be blunt:
1) All enterprise tech companies will be laying off people for the next three months since they hit the pause button during the spring. Assume every company will layoff at least 10% of workforce.
2) If you are perceived as being an under-performer or you are in a group not critical to the priorities laid out by the executive team, assume you are at risk and plan accordingly. That's good advice for anyone at ANY tech company.