Yes, not only laying off, some former employees were duped their investment scam during employment and they never get back their money until today. So be careful, this company never announce their finance and no one know their debt position.

I have just seen groups of people returned their laptop 1 month back during CMCO.

I see you don't understand the big boss is trying to reduce headcounts ("spending millions dollars and hire slow fire fast"). It is obviously something was bad in their finance.