I'd love for it to all be done today, but notifying 10k people takes time. This will probably last throughout the week and maybe even spill into the next one.
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Microsoft has a fiscal year that runs starting July 1 versus calendar year, so Q1: July-Sept
This is the first round and hopefully the packages will be good this round. SN already said rough two years ahead. There will be waves of this until the tech section stop bleeding. The packages will get smaller in later waves.
4th quarter will be a lot worse. Already being planned out.
The move to DTO was probably prompted by the work as part of this layoff, when they were reminded of the liabilities on the balance sheet due to accrued/earned vacation. The payout for vacation days will be done in April, which is interesting. Probably to peanut butter spread the cost across the two quarters.
I took the statement "and 60 days’ notice prior to termination" to imply that all notifications would be done by the end of the month, so that they are off the payroll by the end of the quarter.
@ : @mhq+1kKWVTxY. The articles says fiscal year Q3, so layoffs completed by March 2023
Q3 means Till End of september.
Well, according to the communication sent to employees: "Today, we are making changes that will result in the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3.", so I understand this can take until 31st of March.