After the close of the fiscal year there are already plans for resource action.
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Heard there's an investigation happening into shady accounting and abuse. Executives are being shuffled around.
Lenovo's motto is Never Stand Still. This is correct because the moment that you do, YOU will be laid off. Never mind that you have been identified as a OUTSTANDING PERFORMER, achieved the stretch goal of your KPI 's. If Lenovo needs to make budget, heads will be cut BUT...the executives will still get their bonus. To support their loyal employees, other CEO's are giving up their bonus to save their "valued" employees.
Anyone left in DCG?
Things have gotten quiet.
I guess the folks left in Perimeter Park can move over to Development Dr now.
For all those who landed directly to this thread, you can check out other threads on this forum board here:
https://www.thelayoff.com/lenovo or &lenovo
Some of the most active threads:
For all those laid off: I was years ago, and it was the best thing that ever happened to me. Can't believe I put up with Lenovo management for so long. My new job is fun, well paid, working on fun things, with good management and great fellow employees. If I had known what I know now, I would have quit years before I was laid off.
Robots don’t, but executives do !
Robots don’t need or want any of that.
You want job security and a salary too?
Talk about greedy. Next you’ll be wanting a 40 hour work week and retirement benefits.
It’s all about “expense control” baby!
Just looking out for number one.
The 80s called and they want their indignation back.
The hypocrisy from the VP's is incredible. They sent out the wonderful earnings communications this morning and next week we have significant layoffs. I cannot believe the hypocrisy.
Yes. IDG is included.
Moved my personal items out this evening just in case. Best wishes everyone.
Layoff = RAed = they are fired ?
Employee salaries will be suffered after they are fired.
Huawei’s server will be suffered after this trade war, Lenovo will catch server market share in China and get more bonus.
May 29th makes sense. The last working day in June is the 28th. All charges against earnings can be taken in the 1st quarter.
I heard Wednesday, 5/29.
You have to really appreciate Lenovo’s corporate transparency on layoffs. We never know if we have a job tomorrow.
May 31st Friday, Good day!!
May 21st? A Tuesday? That’s a bit odd.
Is there anyone left in IDG? Usually these layoffs are corporate wide. That way the company saves money paying the attorneys only once for review of the lay-off package.
Does this resource action include IDG as well?
I’m hearing May 21. Anyone else heard anything?
Any word on IDG layoffs?
Layoffs are imminent by the end of the month, especially in the data center group and manufacturing.
Are we looking at fall 2019 now? Any idea what departments?
Stay until the layoff! Some managers did try to force his team member to quit and save layoff budget.
The scenario was pretty similar to below story someone mentioned.
Based on Intel Q1 2019 Financial Results on data center group
Datacenter market share will be expected going down 2019
DRAM price and market share also expected going down 2019
Good luck and stay until the layoff package
This is the first year in many that Lenovo has lifted travel restrictions. Some departments are being asked to increase travel to customers etc. It also appears that there are no hiring freezes this year. Anything could happen this fall, but it sure would contradict the current scenario.
anyone have a date for when this will be happening?
Anyone hearing about layoffs in IDG?
20% cuts are imminent in DCG. Best of luck to all.
I agree with the previous comments regarding the VP's pumping everything up before a layoff. They do the same to us every year and the "pump-up" may be directly proportional to the layoff numbers.
Any ideas if IDG will be impacted? Sales, service, brands?
Cloud platform growth and reliable easy to use no service cost to enterprise customers, Data center has to be cost down especially speaking & communication employee, development tasks actually in ODM. Employee not in Purley platform and new projects will be in the list.IBM legacy projects were listed on 2018 most of people let go.2019 2020 will be cut cut ...........no endless. This is the way to keep stock share up above $HK7 to 10.
Just some of the publisized layoffs are:
Spring and summer 2015
Odds are another round soon.
It is a way of life at Lenovo.
VPs are paid to talk up the company until the next round of firings. Then the story is we had, are having, will have a bad quarter due to economic headwinds, blah, blah, blah. I can assure you employees are being ranked. If you feel secure more power to you. Most do not.
It was in the Doubletree Hotel. All news reported by execs was awesome. Let's see what the new year brings.
Kickoff used to be in the Hurricanes arena now in some little venue due to all the layoffs.
Altman Z-score !! HPE Dell worse
Lenovo Group Ltd has a Z-score of 1.74, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
Hewlett Packard Enterprise Co has a Z-score of 0.87, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.
Dell Technologies Inc has a Z-score of 0.69, indicating it is in Distress Zones. This implies bankrupcy possibility in the next two years.