It will eliminate some particular employees, the roles may be retained and filled with other, probably—for it to have a business purpose—lower-cost (either because of location or experience or a combination) personnel.
Or, even more cynically, the roles can be nominally retained but due to inability to find the right talent or something like that kept open through the current (outside of AI, for now) economic downturn, and then filled again later.
Yup, when one major tech company announces layoffs, all others appear to use the occasion as cover to do their own. Voluntary exit is usually followed by layoffs if they don’t hit the numbers they are targeting.
Well it's part of the hiring strategy with tech companies. You hire based on your competitors hiring. The company that can raise to hire more talent is able to get to market on the next big thing before the competition and see stock value rise. But when a down cycle hits, they all drop hiring to match because you're overspending and will see stock prices drop to the competition.
Would be interested to know the terms of the severance. Non-disparagement seems likely, but noncompetes are not enforced in California. So if you were trying to leave anyway, seems like a win/win.
What in god’s name is the “voluntary exit program” going to do then ? It will obviously eliminate some roles ?
Corporate doublespeak at its finest.
Or, even more cynically, the roles can be nominally retained but due to inability to find the right talent or something like that kept open through the current (outside of AI, for now) economic downturn, and then filled again later.