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this post was submitted on 18 Sep 2023
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CEO decided to lay off a huge portion of the company. Then he had the nerve to have an all-hands saying that the company's financials were great and that they were on track to make $X billion in revenue in some years. Most off the laid off people were still in the fucking call.
My employer told us all the rumours were true. Layoffs were happening. They called it "difficult conversations" instead of firings.
About 1/5th of a team of 1000 people.
Apparently they hadn't decided who yet.
Meanwhile we just received the biggest bonus in the companies history due to historic profits.
Then the CEO told investors that they expect a big pickup early next year and will need to hire a bunch of people to handle the demand.
So they are firing a bunch of people for 6 months to hit financial targets in the back half of the year before hiring people again.
Everyone that is to be fired is still waiting to find out who will be axed.