Don't be under any illusions, and don't ever stake your future on a single employer. Always be interviewing especially when you are content. That is the very time some fickle manager or accountant with a chart will convince someone to effect your life.
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Really there is no standard as to who gets fired. I've seen some LL3s lay off people they didn't like, and others actually go by performance reviews. It depends, really.
Doesn't seem like "performance" is any indication of how secure your job is.
They don't follow their own performance review process when determining who to fire and who to keep.
They're still doing performance reviews and compensation planning, so I'm not expecting to see anything before mid-March.
Rumors that EU is implementing a target of % of employees that need to be ranked low performers.
Next week
To quote Colonel Sandurz: "Soon."