We've all seen the headlines where there's thousands of US headcount being laid off, and some teams in Israel being impacted. But I haven't heard much if there are big HC cuts in China, India, Vietnam, Eastern Europe, Costa Rica, or other lower cost countries/GEOs? Anyone know if the HC cuts are also taking place elsewhere? Or is this the old sleight of hand trick where they fire 5K US employees... but hire back 3K in Asia/Low Cost GEOs?
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What's next?
There were layoffs in Europe and Costa Rica this week (at least from what we know,) any ideas what might be next? Will it happen next week?
2018 Syniverse layoffs - about 300 people (15%)
This week, Syniverse has internally announced laying off 15 % of its
employees, worldwide. That means 300 employees are affected. The
layoffs mainly happen in the US (Tampa, Florida) and India,
although other locations are affected, as well.
In related news, just a few months ago, Syniverse internally
announced to close down its mobile roaming data clearing house (DCH)
development center in Rüsselsheim, Germany until the end of 2018.
This amounts to laying off another ~ 65 employees.
This follows the previous layoff of ~ 40 Syniverse operations
engineers in 2016, also in Rüsselsheim, the 2017 shutdown of the
Syniverse A2P office in Würzburg, Germany (~ 60 employees), and
the constant layoffs in other Syniverse offices around the world
Syniverse is well known for since it's owned by the Carlyle Group
(a private equity corporation).
As always, Syniverse management plans to off-shore the work done
by the laid off engineers to remote locations like India and
Costa Rica. It's confident that this disruptive reorganization
doesn't impact the service-level agreements with existing
customers and magically leads to a path of ultra growth and rapid
innovation (executed by newly hired and inexperienced engineers).
Giving the history and current developments, it's likely that
Syniverse will also shutdown its last remaining office in
Germany, Bonn in the next 1 to 2 years. Followed by Europe
Headquarters in Luxembourg in 2 to 3 years.
Intel has increased restructuring costs by $700m. The $1.4bn restructuring costs as part of #ACT led to 12,000 job losses. So extrapolating this 6,000 is a reasonable number. Stacy the outgoing CFO said this will be more weighted to #Europe and #McAfee divisions. This does not bode well for colleagues in #Munich, #Nuremberg and #Duisburg.