Flock Reportedly Offers Buyouts to Shrink Workforce, Warns of Possible Layoffs
TechCrunch reports the company is offering employees buyout packages, warning that layoffs would "almost certainly" follow if not enough workers accept.
Flock is reportedly attempting to reduce the size of its workforce by offering employees voluntary buyout packages, according to a report from TechCrunch.
Citing information it obtained, TechCrunch reported that the company has told staff that without sufficient participation in the buyout program, it would "almost certainly" need to resort to layoffs to achieve its workforce reduction goals.
The report did not specify the exact number of employees the company is seeking to reduce, the terms of the buyout offers, or the reasons behind the planned workforce reduction.
TechCrunch's report did not include a statement from Flock regarding the buyout offers or the potential for layoffs. The company has not publicly commented on the matter as of this report.
Details on the timeline for the buyout program, including deadlines for employees to accept or decline the offers, were not disclosed in the report.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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