Chief Layoff Officer!

Roughly 2.5% of the workforce. Are there any details on teams and geographies impacted?

What's the layoff scene in C2FO nowdays???

People who were affected just got emails. Orgs include Search, Cloud, Ads , Assistant, Pixel, etc. Engg is affected

Rumor mill is fired up since a week and all meetings with senior leadership this week have been removed from calendars without any notice! Also noticed that several leaders are WFH today. Guessing that is to avoid nervous conversations and to engage in private meetings over phone calls to decide which heads they are going to chop off. The 🔔are going off! Prepare yourselves!

Link: https://inc42.com/buzz/unacademy-fires-another-250-employees-to-turn-profitable/

Current recession giving ‘08 vibes to consulting companies in India: - Accenture Strategy considering layoffs - Deloitte (Consulting) considering layoffs - Mckinsey - already have done non-consulting layoffs - MBB - expected to push out joining dates for new hires by at least ~6 months (most likely new joiners who were expecting to join in July-Aug 23’ to join only starting Jan 24’) Slow pace of new projects, ramp down of existing big clients, massively over hiring in 2022 (key reason) has led to most people being on the bench. Wouldn’t be surprised if the ‘Up or Out’ model comes into action more aggressively for the upcoming appraisal review cycle(s). Brace for impact! (all unconfirmed, heard through ‘grapevine’)

As of now 10 members laid off in consumer banking division in Hyderabad.

Week back there were posts by linkedin engineers that linkedin is hiring SDEs and anyone can as referral and today they laid off 700 people. Like whats happening man!!! Is the company dumb or what?