Fail to understand why leadership supported this selection of random ppl for lay-off this time. I know a person on my team who got promoted few months back for good performance and was laid off yesterday. Can someone enlighten me how the selection was made? What kind of business decision was it to lay-off a person who got promoted few months back? Whoever did this did a lame job
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My leadership said it was due to go to market decisions for the upcoming year. For instance, they're sunsetting a particular product so everyone working in that product got cut.
Not sure if it was random, the two newest hires on my team were cut. My manager mentioned that he didn't find out about the layoff until the day before (Monday), which I interpret as he wasn't the one who made the decision for who to cut.
It's not about money it's the 3 card Monty game. If you look at the EDGAR statement you will see they are taking a 90 Million charge for this NEXT quarter. This means because FY is ending April 1 they will be able to report profits and the game will continue.
It is a value assessment. Yes, you may be very good, and everyone applauds you, but when the winds of economics change, the focus is value - in other words, is your value to the company bigger than the salary. It is very simple, for a very good IC who has been around for 15 years is getting paid nicely, but the truth is that many younger and lower paid people will be able to do your job in.
If it was based on saving money then why are there still so many in leadership positions? Seems to me that is where you would look first so save on cost.
Because it was about who you know and not what you know.
Nobody was let go because of poor perfomance it was all about saving money even though they haven't.
I do think several factors are considered when laying off someone. Current projects, salary, performance, skills, etc. Also, as the previous poster mentioned, it's a great time to clean house - get rid of poor performance and troublemaker employees.
NetApp had to cut 8% of workforce to stay inline with its revenues, otherwise shareholders/activists would be asking GK/BoD what are doing to run the company better? NetApp can only repurchase its stock to a certain point, projects/staff had to be cut.
Sometimes the decision is purely financial right? Look at the ‘08 recession; I’m sure there were solid performers RIF’d just to cut down cost.
I just cut down on maintenance contractors around the house to keep pace with rising costs; and they were doing their job well. Had no choice really; gotta pay my mortgage.
Also a good time to cut posers who take their calls on the way to the gym, walking into the gym and inside the gym, while on the treadmill 😉
I do realize it could of been of been me just as easily ; I’m an coder IC .. and may be hit in the next one, who knows. all we can do is do our job as literally best we can, keep our skills sharp