That is how I would sum up the mood in my building. We all know some of our coworkers will not be with us in three months or it may be us not with them if we are shown the door. When the announcements comes, even if I am safe, I'll still have some level of anxiety that it was a temporary stay of execution. Every big company you see do this is the same play book. Announce mass layoffs during earnings call to distract or show action for poor past performance. Announcement might please investors, but productivity is sure to fall with employee anxiety. If employee productivity falls off too much, the entire "benefit" of the early announcement will be lost in the next quarter as another earnings miss and lower guidance will be announced.
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ADVICE FROM A SEASONED VET
For those who say "i can't wait to move on", you will see how much more difficult it is out there than you think. If you are single and unencumbered by a house then fine; otherwise, watch out what you wish for. I have been through many layoffs over my 30+ years in the public sector and here are the lies you will hear:
1) "this is the last of the layoffs, you are the team we are going through with" - this is bullshit. They never cut deep enough and after a month they will start drawing up plans for a 2nd cut because they see that they are actually doing great without the excess people. The costs are saved and the downside takes a while to hit..
2) "They (mgmt) is only getting rid of dead weight" - never happens this way. You will be shocked at who is left and who gets cut
3) "I cant get laid off, I am the only one that knows xxx" - they don't care and don't see it that way.
4) "I am employee xxx so they won't get rid of me" - just wait
Last, there are always those (i'd say 30%) in denial that they can get laid off. I remember one person who they gave a severance and bonus for the next 3 mos of work. He believed that if he worked hard enough they wouldn't lay him off. He was pissed when he was let go and I never heard from him again..
Good luck, these are never fun but you will make it through. I have heard the QC is a crap place to work anyhow and most people just do it for the money or chance of massive stock appreciation. (that ship has sailed)
All panel groups are gone. First Mirasol now Pikstroniks.
The new emerging, out of no real needs, groups are mostly created by useless directors to justify their existence and show need for their crappy work which involves putting weird processes in place .. Hindering engineers work and making their life at work miserable ... Although some are good processes, others introduced by some directors (like PA...nam...from LA)...are just a total bust and stifles engineers productivity....
This is why it's best to avoid working at big companies. You have less control over your fate than at a small (1000 employees)/medium (3000 employees) company
Yeah, I cannot wait to get my package. I am eager to get this over with and move on.