Any thoughts? I'm part of the filesystem QA team and have been working with the same team for several years. I'm a bit concerned now since we've been doing similar work for years, and it feels like it could be replaced by lower-cost hires but surprisingly hasn't happened yet. I plan to learn something new, but I'm worried I might struggle to find a suitable job since my experience is mostly in legacy tech, which is common among many of us here. I cannot sleep well thinking about it
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The 2% thing is what happened in May. Looking at the wording in Section 10 of the August '24 10-Q, it says:
"...which included a reduction of our global workforce by approximately 2%". The word "included" implies past tense.
Further, it states "...initiated during the first quarter of fiscal 2025 and are expected to be substantially complete by the end of the second quarter of fiscal 2025". In places like the US, the process is completed within 2-3 months. In other geographies, there are other steps (i.e. local labor councils, etc) that take awhile longer. Those longer processes are why it says "substantially complete by end of [Q2]".
This interpretation could be true. Nobody will know for sure until it happens.
The 2% thing is what happened in May. Looking at the wording in Section 10 of the August '24 10-Q, it says:
"...which included a reduction of our global workforce by approximately 2%". The word "included" implies past tense.
Further, it states "...initiated during the first quarter of fiscal 2025 and are expected to be substantially complete by the end of the second quarter of fiscal 2025". In places like the US, the process is completed within 2-3 months. In other geographies, there are other steps (i.e. local labor councils, etc) that take awhile longer. Those longer processes are why it says "substantially complete by end of [Q2]".
I very well could be 100% wrong but my money is on most of the cuts already happened. The number of people I've noticed just disappear over the past couple months leads me to believe this 2% was done through an extended series of cuts and not a single one.
They said in the 10Q they would cut 2% or ~250 employees before the end of Q2(10/31) less any that have already been let go in FY25.
There are also other positions that they are trying to still backfill so it’s possible those whose job is being eliminated could still transition to a new role. But given they last all hands, I imagine if you’re a remote worker within distance of a site, and your team is making an effort to be in the office you might be someone who could be impacted. Please note my uses of “might” and “could” I’m not a decision maker and I can’t see the future. Just me feel of the situation.