I'm very confused as the layoff definitely started already. But why do many people out there keep mentioning 10/2 as a start? Or do they mean the major wave will start on 10/2?
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So are they keeping folks on the payroll for 60 days so they don't have to give a WARN notice? If so, 4Q RIFs would be told this month and 1Q24 RIFs in January.
Most areas are silent as this is going to be massive and most managers have no idea. Odds are your manger and their manager is as nervous as you. Unfortunately even high performers aren’t safe.
Here in Residential Lending, leadership in my LOB has been radio silent. I heard from someone, who heard from someone, that friday maybe the day? But that's just conjecture at this point.
I’ve been wondering the same thing. Tons of people have already been affected.
Waves as in start from the top & work their way down. Management, consolidation, and reduction. Doubtful that all will be announced on one day as there will be thousands impacted.
The layoffs have already started,many weeks ago. What is the significance of 10/2 and 10/4?
“Creditable source. Announcement will be made on October 4.”… do you know who this announcement will pertain to?
“We were told Oct 2 would be the start of it and that it would be in waves. This was as a townhall for our team.” Since the layoffs and reorg started at least a month ago, maybe longer, do you know who will be targeted on 10/2?
Announcements are coming out daily but only to the specific teams impacted. If you aren’t receiving announcements, it’s either because there aren’t any for your area or your management isn’t being transparent.
Creditable source. Announcement will be made on October 4.
We were told Oct 2 would be the start of it and that it would be in waves. This was as a townhall for our team.
Most people don't know anything. There are many rumors being circulated, the only people that know what is going to happen is HR and executive leadership.
Many folks are thinking that the layoffs will start before the earnings call on October 20th just because that's how many public companies have done them in the past. Many are thinking that there are so many they'll start at the beginning of October.