What is up with the news? About 10K jobs have been eliminated this month (January) and not a single news article, posting, etc. anywhere... where are the biz reporters?
How can anyone trust the news and media when a story like this doesn't even make the LinkedIn news feed?
Inquiring minds want to know.
Here's my thoughts (assuming those already laid off can tell us differently)
Folks who got cut are getting not 8 weeks of garden leave but 8 weeks + the time between now and 3/31. That way you can prep the investors for the upcoming layoff related charges, announced in the 1Q call that there will be layoff related charges of $X Million for the next 2 quarters, ensuring it doesn't hit the 4Q2026 numbers. And you tell those being laid off as a term of the layoff, you can not speak about the layoff until it is formally announced or else you lose some portion of your severance.
Still nothing in the news. Srini and Mike keep this on the DL for real. Of course they be on the DL long time. Don’t drop soap biotches
@ah Um, yes there were WARN notices in 2003.
https://www.warntracker.com/company/t-mobile
T-Mobile WARN Notices in 2023
T-Mobile issued multiple WARN (Worker Adjustment and Retraining Notification) notices in 2023, as required by federal law for mass layoffs or plant closings affecting 50 or more employees. Key layoffs included:
Bellevue, WA (Oct. 24, 2023): 401 corporate and back-office employees at T-Mobile’s headquarters were laid off, with the WARN notice filed on August 25, 2023.
Hamilton County, TN (Nov. 2, 2023): 127 employees affected, with the notice filed on October 19, 2023.
Beltsville, MD (Nov. 2, 2023): 40 employees laid off, notice filed on September 20, 2023.
Downers Grove, IL (Sep. 20, 2023): 82 employees impacted, notice filed on September 20, 2023.
Various locations, NJ (Nov. 23, 2023): 50 employees laid off, notice filed on August 29, 2023.
These layoffs were part of a broader restructuring announced by CEO Michael Sievert, involving 5,000 job cuts (about 7% of workforce) across corporate, back-office, and technology roles
It won’t hit until there’s an official email from srini that is leaked or press release with alll the delightful PR buzz words about “setting us up for a stronger tomorrow” or some sh-t like that, also 10k isn’t confirmed, and they could be doing this in chunks so it’s not some massive figure. Look at Verizon. They announced on their own, 15k cuts, and they had that outage this week, but they’re going to be just fine. Stock price still good. So capitalism!
It will hit the news once the WARN go out probably early February. I also don't think we've gotten to 10K yet but will in the end.
I was thinking about that too. Back in August 2023 when 5000 people were let go, It was all over the news. Nothing is in the WARN system either.
People who are being notified are being told their official last day will be April 2. Which is officially Q2. I’m wondering if Srini and the brain trust are gaming the system and none of this will come out until April.
Q4 earnings is scheduled for February 11. I read somewhere that in addition to Q4 earnings Srini is going to lay out his vision for the next two years. i’m sure this all ties together somehow with timing and messaging.
I’ve only seen a handful of messages on LinkedIn from people who have lost their positions. It seems odd that there aren’t more people posting about losing their jobs too.