My contacts working there say it came as a total shock to them. No warning or signs. Probably all the programs would come to a halt of half of the employees actually left.
My contacts working there say it came as a total shock to them. No warning or signs. Probably all the programs would come to a halt of half of the employees actually left.
This tactic is called “short fill”. You indicate that downsizing is coming, offer a generous buyout plan, some of the older(higher paid) employees take the deal. Result 10-15% overall workforce shrink, followed by replacement hiring of younger(lower paid) people to fill openings as they occur. Lower overall labor cost, increase profits, bingo.