One or all of these have to happen. Kurians bonus RSUs will demand it.
The only other ways out are bankruptcy or sell the company.
In any case NetApp is done.
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The list is already done and have been done for some time. It will happen end of quarter. It’s the worst kept secret out there.
Rumor has it....
Stop this fear mongering
there are no layoffs planned till June
we will be having some cuts in June, but not a large layoff or anything
It is by no chance Thrive Together work location models were recently reassigned and announced. Leadership will now be able to swiftly fire employees with the justification of poor in-office attendance. Which will free them of paying out severance.
Layoffs will happen within the next month. 3-3.5 weeks to be more precise. Rumor has it, the overall ROI will be no greater than 5%. Certain teams and projects within engineering, sales and support will be targeted. Which will still be large enough to brutally impact some teams and product, while other smaller teams may be entirely wiped out. Lower tier management and directors will not know until the week before. They'll be forced to use performance and in-office attendance to make their decisions. At that point, direct managers will have to tell their bosses who gets gone and who is protected.
Hard times are coming. Brace for impact.
With NetApp down 31% in three months, brace for impact. The C-Suite may need to sacrifice jobs for a bonus.
Layoffs are coming very soon. Everyone knows including the street. It’s so predictable that it will probably drive shares lower.
This is plain silly. It is in everyone's best interest, for stock valuations, for the company to go through this stock pullback and come out on the other side. The entire economy is lurching because the investor class hasn't figured out the new rules, or if new rules are really required.
Just calm down. Yes there will be a restructuring. But it could be much worse, you could be at Cisco with their twice a year layoffs, right sizing according to Chuck, of mainly US employees.
What makes you say this and what information led to this do or die outcome? The layoff is coming and it’s an open secret on our calls.