Today, we are making changes that will result in the reduction of
our overall workforce by 10,000 jobs through the end of FY23 Q3.
This represents less than 5 percent of our total employee base,
with some notifications happening today. It’s important to note
that while we are eliminating roles in some areas, we will
continue to hire in key strategic areas. We know this is a
challenging time for each person impacted. The senior leadership
team and I are committed that as we go through this process, we
will do so in the most thoughtful and transparent way possible.
Second, we will continue to invest in strategic areas for our
future, meaning we are allocating both our capital and talent to
areas of secular growth and long-term competitiveness for the
company, while divesting in other areas. These are the kinds of
hard choices we have made throughout our 47-year history to remain
a consequential company in this industry that is unforgiving to
anyone who doesn’t adapt to platform shifts. As such, we are
taking a $1.2 billion charge in Q2 related to severance costs,
changes to our hardware portfolio, and the cost of lease
consolidation as we create higher density across our workspaces.
Curious what “changes to our hardware portfolio” means.