From the last few days there were talks going on about layoffs in Morgan Stanley. Some 7% of the global staff will be handed over the pink slip in this week. Well... It started happening from today ... Few colleagues from my department were laid, and the reason being "company is trying to survive in the market, company is planning the road ahead by taking such bold steps". When this was announced, my anxiety shot up the next level and I couldn't wait for the meeting to finish. The past few years have not been great for the business worldwide due to which many companies are forced to take such steps. These companies just have been doing a hiring spree from the last 1-2 years that now they are regretting their decisions and letting off their employees. My question is - "If a company hires excessively during the bull market and is forced to lay off few of the employees during the downturn, has the company made an error by not evaluating the headcount or it was just simply the need of the hour"
Please note - I know many people out there who have faced job cuts due to many factors, sincerely requesting people to take this matter very seriously
When the bull run happened almost every company had FOMO to not miss out on best talent and hyper growth instead of looking at what they need. Apple is one such company who didn't fall for this. Some even handed unrealistic salaries. But remember it's the exact unrealistic salaries that cut the people's job off. I still see people voting 40L+ or highest range with just the information of tier 1 college specified in grapevine polls. Do you think the salary is normalised or is it inflated for all?
Agreed ... From the last 1-2 quarters, companies are making record breaking profits, some even crossing the industry expectations ... Still these companies are laying off hundreds of employees by saying that the business is not good... How does that make sense when your company is making huge profits and laying off employees at the same time giving such reasons
That's just unethical, that's how google and Microsoft are laying off even with profits. Earlier when people used to shame companies who layoff, the stupid investor mentality is that if layoffs happen they will be more profitable and the greed never stops.
From the last few days there were talks going on about layoffs in Morgan Stanley. Some 7% of the global staff will be handed over the pink slip in this week. Well... It started happening from today ... Few colleagues from my department...
I am really curious why there are so many layoffs in the IT industry. Wherever you see, big companies like CISCO are laying off so many employees. Experts on Grapevine, please explain what is going on.
Being an investor in equity markets, i was aware of the fact that US market will crash as the free money by fed draws back. I obviously was not able to link this up with the funding dry-ness.
I still expect a founder to be aware of th...
Let me explain in detail. There are two parts to it and can be broken down basis PnL 1. Revenues : Sudden jump in...
Is every company which is laying off is affected by recession?, or is it just using the opportunity(blaming recession) to cut down the work force which increased due to over hiring?
That's it. That's the reason. No recession, no lack of profits. Till now, layoffs were a sign of a weak corporation and something shameful. A company doing layoffs meant they were on the verge of a collapse but now its socially acceptabl...