Tying performance evaluation and potential termination to externally defined dates seems problematic. IME, feedback as a euphemism for evaluation doesn’t help people/teams improve.
“The new plan, Dorsey has reportedly decided, is for Block leadership to rely on “milestones” like product launches and other big events, after which workers will receive quick feedback and managers will decide “whether to part ways immediately (instead of letting things linger).”
https://www.sfgate.com/tech/article/jack-dorsey-block-layoff-easier-18509249.php
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Feedback is an opportunity to provide alternative perspectives/information to encourage different choices in the future. Waiting until a milestones is a bit late to alter the path.