I heard there’s another one coming. I guess the investors are not reacting as expected (this part is just me guessing or trying to justify( but I don’t really know. Anyone has more “concrete” news?
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interesting comment by @1Fjmk+1mIO9RpA
also, there is a lot of talk about sunsetting products.
There will a layoff at the end of 2023 because the transformation effort will end.
Another round is apparently now starting. I’ve just been notified, and I was told that the decision to let me go was made back in May. It feels rather deceptive to keep people hanging on thinking they’re safe. While this round is probably not as big as the initial one in May, all I can say is, watch out.
The $180k per laid off person is not just the savings from salaries.
It’s also benefits, like insurance, or pensions, as well as taxes, equipment, training, etc. Depending on how targeted you are with layoffs, it can mean shutting down an office or part of an office, reducing rent, repairs and maintenance, insurance etc.
So in reality you’re probably looking at an average salary cut of $120-50k per person rather than $180k.
And the mix can certainly include higher-paid employees who make 200-300k+ in salary and have good benefits (as seems to be the case this time around).
More cynically the figure may also assume that some people will also resign or retire early in light of the layoffs.
So I reckon you can certainly get to that $200m number with reasonable assumptions.
OK, we were told 1100 employees resulting in a $200m annual saving. Thats an average of $180,000 per employee. Now if we include those laid off in low cost countries I dont see how this is possible. Any ideas?
Has the 15th May layoff finished across the entire Org, or is the next one started?
Employess are expensive, contractors are cheap.
Pay attention to what hr and Finance spend their meeting time and activity on. That is a telltale.
From what I'm observing the contractors layoffs are unfortunately not completed yet, although some of them were already notified. So it looks like totally grey area when it comes to the total number of employees impacted-any numbers that were officially shared were only on full time employees.I wouldn't be surprised if we continue with this lack of transparency and never find out,the final numbers could be quite shocking.
The next layoff will target people of an IQ below 70. Those pesky insects still live in Shoppig. They pretend to price horse sh... known as shop-pig ear sh..t.
the cost announced was 50m for now and 20m next year..even with another layoff there is no way to save 200m per year..they are screwed big time and the earned it.
This probably depends on what could be sold to raise cash and what people can be offloaded with it.