Following the email from Cristiano, here are some things that I know and that I heard/read so far:
What's confirmed:
- Amon's layoff email.
- Confirmed cuts with some of my friends (and posts here0
- The exact % of ppl being laid off has not been confirmed publicly.
Rumors circulating:
- 7–9% layoffs across BUs and locations.
- Performance-based cuts - some are suggesting this I doubt it
- Org-dependent impact - % cut will vary by org - this is highly possible IMO, it'd follow the pattern from before.
- Timeline - rumors is that we have 1mo+ before more details become clear.
- New hires - People joining in Nov are puzzled - a number of roles in Automotive are starting in Nov - talked to a friend
Why cuts??? All speculative but come to mind
- Weak smartphone demand
- Rising memory prices
- Increasing competition from AAPL/Samsung
- Pricing power issues
Chime in if u have something to add, feel free to challenge any of these, I am puzzled and many of these may be inaccurate (aside from that top section)