Has anyone been laid off? Or heard of peers getting laid off? It seems pretty quiet, maybe the US majority is done for now?
8 replies (most recent on top)
May 1st: round 2
Oh I have heard of cuts this week. Spread around at different sites. But not large groups.
I agree with you. This RIF is just an excuse pump and dump Medtronic stock on Wall Street.
This cost cutting is not going to materially benefit anything this year...the people who got cut are still on payroll for next 60 days aka a month into next FY at minimum. So where exactly is this "tighten up the book" happening?
Q4 and FY23 overall will be a dumpster fire.
Not sure what the id--ts on wall street are smoking but they gamble with other people's money so don't really care. They see layoffs, stock goes up. But this is a temporary bump prior to the impending free fall. Watch and see.
Sales is coming after quarter close; they are trying to squeeze as much as they can out of them before they RIF the low performers
As far as I know US is done (for this round anyway). Business leaders had town halls for moving forward innovations and strategies; Org w/resources impacted leaders are in discussions in Org charts update.
Sales likely, like the last reply stated could come later.
It's been eerie quiet. It's sad to see that leadership is also quiet except for a few emails. Talk about a morale ki-ler.
I believe the US is done for now outside of sales. If sales is impacted it won't be until after quarter close. With that being said this layoff was a cost cutting measure to tighten up the books prior to end of year reporting. We are still in the middle of reorganization, and not all the management levels have been set and communicated. I would guess as there will be some more layoffs based on how these layers will be structured.