Massive layoff is coming, my manager asked me how to reduce team by half...
10 replies (most recent on top)
Looks like very similar scale and timeline in 2015 if not worst. Good luck to us all.
Slim fast works too!
To meet 2019 eps goals all head cut reductions have to take place this summer. Can't afford those charges in December qtr. Sorry folks that's how it works. Communications will happen in August after Q3 earnings release but with enough time to give folks 60 days notice and get the out the door by October at the very latest. If they do this accounting rules let the whole charge be taken in Sept qtr.
My manager didn‘t ask me to cut anyone, but he asked me for a team ranking. Was evasive when I asked for the reason.
The truth of the matter is nobody knows when and how many layoffs will happen so please for everyone's benefit stop fear mongering with rumors . That kind of info is privleged so nobody knows right now.
Goal is no compensation in fiscal 2019 for employees laid off. That means offers will be communicated no later than August with last day by Halloween (or thereabouts). If they go longer than that 2019 will get hit with charges impacting their eps goals.
This will happen rather quickly. Sorry folks.
To save 1.4 billion Q laid off 15% or 4500 employees. To save 1 billion ...well you do the math...brace for impact...
Do we have any idea of when the layoff will occur? November, or long before?
Try nutrisystem or Jenny Craig
SG&A ?