Heard that some restructure happening in some teams, are there layoffs expected?

Fortinet, laid off some employees this month after their stock took a nose dive.

FortiNAC product line from Fortinet. Concord NH office impacted

Each quarter the CEO takes a loaded question "from the audience" at the all hands about whether there will be layoffs or not; each quarter he says there will not be any. In reality, Fortinet is making layoffs every quarter without announcing it -... — read more 

I am seeing LOTS of LinkedIn “open to work” posts this week from Fortinet employees. Was there a major layoff this week/last week? Saw several Sr. Director/Director level plus some individual contributors with discouraging posts looking for work.

Upper management has confirmed massive layoffs happening in support and service sector. No one is immune even cybersecurity sector. More than 50% of the support teams will be laid off

My team is going to merge with other team to redesign one existing project. So there are about >15 engineers going to get laid off

Been hearing whispers that they are laying off a lot of people soon. Any substance to those rumors?