Are layoffs a thing now? Is the time of “The Great Resignation” and employees holding the cards over?

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How do I put this…layoffs have always been a thing and we’ve never held the cards lol

likesmart

Yeah the layoffs have never stopped. While I agree we don't hold the cards, the shift to remote/hybrid work has been an exception and 100% a reflection of employee preference. Just look to what the CEOs/Presidents have been saying and how little the actual workers have responded about going back and the value of in-office work.

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A “recession” has been “on its way” since the start of covid.

Also, the more we talk about this recession, the more likely it becomes. So let’s all shut up.

likefunnysmart

No “manifesting the recession” into the universe

likefunny
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How did we go immediately from “employers can’t fill roles, can’t find talent” to a mass lay off situation?

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The economy. Weak signals.

Ha! Lay me off. I dare you. You'll get rid of me, but you won't like my variants. They're worse than I am.

likefunnyhelpful

I didn’t know Joe Manchin was on Fish Bowl!

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What country are you in? In Canada all the international talents left during Covid and local talents decided to go and be farmers or find another purpose to their life (which I get don’t get me wrong). Long story short, for the remaining talents, we’re literally harassed by headhunters.

likefunny

As in they stay or they leave the industry after experiencing it?

The recession is already happening. And it’s not something that governments are trying to avoid. It’s the plan to slow the inflation that was caused by Covid. There’s no way that it will NOT happen; it’s deliberate and, unfortunately, necessary. Clients are currently cutting their spending. Agencies will feel it soon in a vey big way.

likesmart

Make no mistake. Loyalty is not rewarded in a recession or any layoff situation. It is purely a financial exercise.

likehelpfulfunny

The job market is fairly stable. Any layoffs have been agencies who were already struggling.

People are theorizing a recession is coming, but it hasnt materialized yet.

likesmartfunny

All of the economic data out there is strongly indicating we are already in a recession or about to enter one - the job market has nothing to do with that fact

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I’m seeing clients being very cautious with future budgets. They’re not committing to the same spend. Which means agencies are cutting staffing. Maybe some are just not hiring new people or replacing people who left. But in some cases, they are starting to cut. How deep this goes depends on clients’ forecasts.

likehelpful

Layoffs are always a thing in advertising.

likehelpful

I’m treating the recession like something I had a small case of a while back and am now immune.

likefunny

Havent heard of enough to be a thing

likehelpful

We didn’t get a follow up

Yes there are layoffs

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Let’s just say it’s probably never been a better time to be a freelancer…

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Layoffs have *always* been a thing, during or shortly following a recession. Which IDGAF how much we're going to try to redefine that word, the actual reality is, advertisers are pausing budgets left and right, and if they're not spending, agency payrolls are affected. Layoffs are not the anomaly, the Great Resignation was the anomaly.

likehelpful

Not here. I have four offers I’m sifting through.

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My company had mass layoffs last month!

likehelpful

I wasn’t one of the people affected actually! But still looking to leave so I hope not.

No reason to give up remote/hybrid work.

Otherwise, markets always shift to “employee” or “employer”. Normal cycles. I’d say it’s neutral at the moment, but we may go into the weirdest recession of my lifetime, one that seems to be self fulfilled.

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i keep thinking what a convenient turn in media coverage this is for employers who are struggling to find talent they can afford.

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Yep, got laid off last month. It’s huge in tech/agency right now. Be careful. Negotiate your exit on the front end, be safe my friends!

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Just had around five this week.

helpful

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I got an offer from Cognizant. I would like to know how is Cognizant as last year it fired a lot of employees

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Is cognizant also planning to layoff? Looking at their attrition rate, they might need employees to run the existing projects.

I want to hear everyone's opinion on this.

PS: I will be giving interview this week for cognizant.

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I just started working a couple of months ago, should I start to panic because I might potentially get laid off? Our account seems to be very busy though.

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Will there be any formal communication about the layoffs happening currently/in the future?

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I get there are stealth layoffs happening, but those are at the small minority of firms that were actually able to hire the last 2 years.

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Seeing A LOT of layoff posts this week. Who’s had them and who feels them coming?

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Anyone else having a hard time finding jobs? Just got laid off and am having a hard time finding a new gig..

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Wow. There are so many layoff news from different agencies. Might not be as large of a percentage as early during the covid. Isn’t this a bit early in the season? I always thought it’s December when agencies trim the headcount. 😬

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