This company is known for its ruthless treatment of employees. Even if you survive this round of layoffs, we all know there will be more next year. Things are only going to get much worse from this point on. It hasn't even started yet. Sorry for being a negative Nancy, but this is the truth, and the truth always hurts.
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You are not wrong. Saw my dad endure 30 years of that at IBM. Constant layoffs to fire the expensive and hire the cheap. He was one of the few old people left when he retired. It's why I left semiconductor entirely.