So far no crying and moaning LinkedIn posts on layoffs. Half of my team out for Christmas and New year holidays.No doomsday announcement from ELT. Seems like the worse is over
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The worst is over? No.
$3B cost cutting next year, followed by $10B the year following. Conservatively, 50% of the cuts are HC. @ $250K per head (generous) the HC cuts next year would be 12,000 people. If goes up from there in 2024 unless IDM 2.0 starts to work...
Anyway, you can grab your calculator and re-run the equation with different assumptions if you like or ask your finance person to put together a pivot table for you in Excel.
They want people to think they are not getting fired so they spend lots of money for xmas on PCs for their family, then in January they will continue with the firings until the morale improves.
For certain groups, decisions on who will be laid off are being made this month. Notification to follow in mid January. Definitely not over…
HC reduction will be an ongoing process for the two years or more, I wouldn't get too comfortable.