Layoffs will come after Q3 announcements. "Do you want the good news or the bad news?" They need the sequence to be bad news then "good" news so Wall Street can bump share price back up after it takes a hit from the results announcements. It's not about productivity, it's all about perception. Any actual layoffs will happen on the Thursday of a paydate to give those affected a 3-day weekend for the shock to set in/wear off.
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2016 - the worst year on rwcord