Founder

Indian Ceos will soon hire CLOs and those INFLUENZA'S FAANG Maama will launch courses for these roles as well.

Paul Vogel joined the company in 2016 as the head of investor relations and was promoted to the position of CFO in 2020.

Amid Mass Layoffs, Spotify's Chief Financial Officer Announces Exit

Chief Layoff Officer!

Senior Consultant

Chief Layoff Officer!- Grapevine

https://www.desiqna.in/11475/cognizant-fires-18000-employees-gives-crore-joining-salary

Cognizant fires 18000 employees but gives 6 crore joining bonus and 57 crore salary to new CEO in new year - Desi QnA

Layoffs

Consultant

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

Accenture to Layoff 19k employees

Senior Manager

Welcome to Software Engineers's Private Community

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

Layoff scene

Product Manager

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

Big layoffs at Google!

Last I saw someone post that his Google Interview has started.  
  
 Guess, FAANG are showing their fangs.  
  
 Apple laid off subcontractors and not employees from what I read.

Software Engineer

Research Engineer

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!

Wayfair Likely Doing a Mass Layoff Tomorrow

Analyst

100+ tech layoffs at Zomato just like swiggy and flipkart.

Software Developer

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

Unacademy fires 250 employees to 'turn profitable'

Pathetic. How many times these so called another layoff?  
 This is pure scam. Such kind of CEOs and CTOs have no right to be at such higher places. These id*ots come to media and give lectures also. There should be some laws in place for layoffs. These People wake up and do layoff. Some get funding and then do layoff and some vice versa. Some fire and then again post about hiring next month shamelessly. It's like a fashion for the. Layoff is no more a last resort these days.  
 These kind of companies will surely go down the drain.  
 CEOs and higher management should be made to disclose their salary and perks so that junior employees should also know how much salary difference is there and is there really a need for cost cutting.  
 Of not, we should atleast stop respecting/ideologise such people. If possible stop using/promoting their products as well. Treat them the way they treat employees.

Operations Manager

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’)

Consulting layoffs

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

Layoffs Started in Goldman Sachs

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?

LinkedIn Layoffs India

(1) Reduce cost of human capital -> (2) Post better EBITDA numbers in earnings calls -> (3) Get big bonuses and sell your equity if its value is rising -> (4) Hire a lot of people again so that you can repeat this cycle again to profit

If you just got hired or promoted and the company you work for just did layoffs such as Google. 

wait a few days to post your big celebration post out of respect for those who just got some of the worst news of their careers.

It just seems like the kind thing to do. Specially to all Google Linkedin influencers!!!! I am sick of 10-15 PMs, SDEs selling FAANG courses, posting pictures of Google celebration, Googleversery etc,. How can you celebrate when your friends & colleagues are laidoff??

Keep it low!!

Engineering Manager

If we look at layoff trends in India, then late stage IPO headed startups are doing it to boost profitability, or mid to early stage ones where they're trying to fit into a viable biz model. some mid sized MNCs also did layoffs where they have seen hit to their books.. all in all, crux was similar - to boost efficiency and eliminate redundancy.
Then comes the companies with their support teams in india or US/EU banks and their ops outsourced in India.. i mean if you got friends in these firms you would understand how chillax they're about this.

Take the example of AmEx...there's so much slack in the company, got few friends there and all of them don't work more 4 hours a day and that too most of the work some excel and next to shit level of python/sql while their salary in almost 90-95% of avg market (similar to what top paying startups).. Along with that teams are operating at 150% of strength so wlb is heaven there. story is similar with folks in similar US based support ops in india (citi, jp morgan, mastercard, some service based orgs etc)

but look the irony of overall market.. you should be efficient and scared about your job as long you're into startups and Indian firms but once you make it captive or offshore centres of these US based firms.. you're life is chill, relax, no bad wlb, practically no layoffs. so you won't find these folks scrambling across GV or fishbowl or like that and getting stressed about seeing how other folks feel when one of the closer startups decided to restructure 

(i am frustrated because i once let go a offer of top US fintech company to go for a startup and now all i have is regrets given how the events across startup ecosystem are folding like layoffs across Fk, swiggy etc.. and not only layoffs but in general WLB and culture has taken a huge huge hit ::///// ) well it is what it is i guess then :,)

Layoffs trends in India

Program Manager

What u guys think will there be mass layoffs in Indian IT in coming days??

TikTok Layoffs | ByteDance cuts hundreds of jobs globally as platform shifts to AI moderation: Report https://www.livemint.com/companies/news/tiktok-layoffs-bytedance-cuts-hundreds-of-jobs-globally-as-platform-shifts-to-ai-moderation-report-11728720808330.html

AI effect.

Human Resources

I don’t understand what the point really was 

- companies with a bad product are still struggling 
- companies with a good product are still growing
- rent in Bangalore, Mumbai is still sky high 
- salaries are still high, people are still asking for more 
- food is expensive as ever 
- stock prices of companies that fired people never really went up 

Someone make any sense or any of this?

Layoffs were a total failure at changing anything

McKinsey Layoff

Business Development Manager

https://www.moneycontrol.com/news/business/cognizant-says-revenue-will-decline-in-2023-to-lay-off-3500-employees-10523261.html/amp?utm_campaign=fullarticle&utm_medium=referral&utm_source=inshorts

Cognizant to layoff 3500 Employees

Looking at so many layoffs at Google, Cloudflare and FAANG-type comoanies; that too in spite of having profitable quarters makes me think of FAANG is a curse instead of blessing?
Anyone with similar thoughts?

FAANG unattractive in 2024

To conduct layoffs on regular basis :) Role ends on 2024 means a bigger wave is coming. 

https://www.linkedin.com/jobs/view/4041876488

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