May the odds be in your favor!
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Wow, this 3/1 guess confirms the buzz around Sunnyvale campus.
Extremely quick would have been next day. 2 weeks later is not swift or transparent. Lot of people are going to be skipping GK's all hands meeting. I think people have had enough of what he has to say.
Previous poster, they don't. This is why you will see GK address everyone next week about what the plan is and then the next week cut the 12%.
This will be extremely swift. They want to rip this bandaid off fast and assure the market that they are on the right track. The stock can't continue to take the same beating.
They are literally killing productivity until 3/1. How can they expect employees to keep cool and not bother about the impending layoff...
This 3/1 might actually make sense. On the earnings call (it's on Seeking Alpha), GK said:
"Today we announced our restructuring and reduction in workforce of approximately 12% of total headcount. This action will generate annualized run rate savings of approximately $200 million against our gross target. We expect the majority of this workforce reduction to occur in fiscal Q4."
Q4 end is 4/30. 4/30 - 3/1 = 61 days. If they send out the notices on 3/1, this would give everyone full benefits (not just partial month), provide 60 days of termination notice before Q4 end, and also would fall within what GK promised the market on the earnings call.
This week Directors and VPs got an email that led them to the internal portal with additional details. Does anyone have any info here?
How do you know