Get ready for very rough ride. Expect more in late July. Of course, the so-called leaders will ride this dog into the ground, all the while ensuring that they are saved and well compensated.
I heard a similar thing, that more layoffs can be expected sometime this month. It wasn't specified when, though.
Makes sense ... they can exploit "legal loopholes" by making smaller reductions over time, instead of en masse reductions. The federal WARN act (1988 USA) requires 60-day notification if 100 or more employees at any one site are cut, for example. By making smaller cuts in the same site, you can have "surprise" layoffs with little to no warning. Nortel pulled a similar stunt when reducing headcount in Billerica years ago.