Guys a friend working there told me Kotak Bank is going to cut approx 20 percent of the workforce across all departments. They have already started revoking offer letters. Also they will not be giving increments and bonuses. Tough times ahead. Anyone bearing things from established companies.
They also over-hired?
Kotak employee here. Take this news with a pinch of salt. The layoff speculation is only for Tech roles, UK and team wanted a total overhaul of IT/Tech, hired a lot of folks from Amazon - thinking tech from Amazon will be god-level and will miraculously transform their biz+ tech. Didn't happen. Plus a lot of old folks saw the huge pay disparity and left. HR has now realised this hence there's talk of rationalising pay structure across the board. Not sure whether they're rescinding job offers though.
Word on the street is they are rebranding as Kotha bank.
off no just now got an offer from them
and posted Checkout this post on Grapevine - https://share.gvine.app/maXej5cm2fpSmtou7
Kotak mahindra offer
Just keep an eye and talk to folks. Word is out that they are rescinding offers.
Heard Zee5 has done a massive layoff and also other Zee companies doing layoffs. Better watch out everyone.
Also HDFC have done a hiring freeze. Kotak is on a hiring freeze except for engineering department. ICICI no news about hiring....
https://indianexpress.com/article/explained/explained-economics/rbi-barred-kotak-mahindra-bank-9288739/ See hiring Amazon guys in fintech without domain knowledge will be disaster . Kotak811 will close down
They've hired Boston Consulting Group to help them carry out their plan. The plan is to cut atleast 10% in major units. The project is termed Project Bora Bora.
They will be eliminating regional managers, co-heads and other employees w...
The Consultant life is all about chilling and billing. You chill and then you bill for the chaos
News of jpmc doing layoffs after Morgan Stanley last week is out. Wanted to know if any teams, departments or employees in India, Mumbai and Bangalore are affected? If anyone has any info, please share.
