All this pressure and uncertainty are working, I guess. People are quitting. I know a guy who took a significant cut in pay at his new job but was ecstatic about leaving Verizon nonetheless.
And I know a lot of people who are just sticking around to see if they'll be laid off for severance. Once the layoffs are done and they are still here, they'e packing and leaving as well.
I think this strategy might end up costing the company more than they have planned.