Assuming 5% is true that’s around 1750, which sounds scary until you realize that a greater percentage of employees are impacted by office closures.
46 replies (most recent on top)
I am the one who leaked RTO delay. Layoffs will start in October. No one has come up with the exact start date yet.
there are 2 buckets of 500M
- 500M to be saved by headcount cuts real estate cuts
- 500M to be saved by shutting down TDA broker dealer and more headcount cuts.
Some of the cuts from the second bucket may come next year.
Based on how some EC members mentioned 5% thats likely the target in the coming layoff.
Is it 500m or 1b of cuts? Either is massive. Headcount predictions?
Agreed! 9/18 week. I received a meeting request for the week of Sept 18 from my supervisor (moving up the 1:1 meeting from when it was originally scheduled which was at the end of Sept). Seems most likely the "start date" for "cost reduction exercises" would be week of Sept 18 and continue into October given the $1 billion targeted annual cost savings. (i.e., how many cuts can you make in just a week or two...)
It will start in week of September 18th. Same person who leaked this news also leaked RTO delay.