I know how getting laid off would affect me - it would bring me a relief, but I am interested in how it would affect Lenovo company as a whole.
Would another round of layoffs ultimately bring anything good to this company? Will layoffs slow down the sinking of Lenovo?
If you're working in the Morrisville, NC location and should you get laidoff, you probably qualify for the free classes Wake Tech offers. They have good classes on tweaking your LinkedIn profile, resume writing, interviewing, etc... I found out about these from the person at the Employment Security Office. That was before the pandemic though, so I am not sure what the current status is on the free classes. They were helpful.
What the other people are saying about not panicking is true. A former Lenovo co-worker who is now working at that 'big networking company with the bridge in their logo', told me working at there is "like a breath of fresh air" compared with working at Lenovo. Is Lenovo the worst place to work? Not in my experience - I think it depends on who is in your team especially who your manager and directors are. Some of them expect to be a-s kissed and they reward those who do, regardless of how little work those brown noser do. Some departments have bullies (who are favorites and thus protected by management) too. On the other hand, some managers at Lenovo are very "hands off", really carefully go over your KPIs with you, and offer recommendations and suggestions to help you out.
Hope that helps.
Lenovo makes financials look good with massive orders that are neither manufactured nor filled. I watched it happen and questioned how it was the case. All done in China where accounting and government spending is not audited. All of a sudden the quarter looks good with a large block of server sales. The parts are never ordered to build, but the sales occurred.
absolute nonsense being typed again.
Lenovo inhouse employees now stands at 63,000 with hiring of another 3,000 this year.
They are not outsourcing or adding contractors, infact they are bringing more manufacturing and recycling in house.
A new factory will open in Europe during the summer. The comany will have record breaking revenue and profit for 20/21. And has many months of orders on the books.
The new structures are well thought out, strengthening capabilty, taking our some duplication.
So what is some people in the poorest performing business unit have to go. Company will be stronger.
If I didnt like it I would have volunteered for a deal, why dont you do that and get to the front.
It is only work, nobody should stay in an environment that makes them stressed.
Most likely in the short term, the stock price will go up since laying people off is perceived by investors to lower the fixed costs and that means more profit.
Probably some of the job positions will eventually be filled with lower paid contractors. There have been plenty of layoffs before and none of those "reduction in head count" have affected the sustainability of Lenovo to exist as a whole. I've seen it where some, if not many of those contractors will be "stuck" as contractors for 5-10 or more years, unless they can brown nose their way into the ring of favorites or are former IBM employees; then they become regulars with a year or two.
For those who stay, just watch what the executive directors and directors say. In my experience, they say whatever they think will calm the masses, even when it's not true.
Lenovo is Chinese for layoffs. Lenovo has no affect from layoffs. The poor survivors get stuck picking up all the lost work. Other poor souls hire in thinking it is great until they see how horrible it is. Then the Chinese government purchases large quantities of products that are never manufactured or shipped so revenue looks good.