Are there any finance people that can say how layoffs really work? If it’s not performance based is that another way of saying you are still the lowest value employee based on, well, performance?

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The CFO gives executive committee a number of heads needed to help. The executive committee pulls team leaders aside and asks for names of people they can afford to let go. Either because they aren’t pulling their weight or because they aren’t assigned to enough billable work. I will say though, the best employees (hard working, talented, skilled) are almost always assigned to billable work.

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Is it possible we work at different companies?

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It’s basically “who can we afford to lose?” The finance team doesn’t choose people. They just say “here is what you have to cut in salaries.” The dept heads have to decide how to get there.

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All of the above plus skillsets. If you are a print producer but the agency has been doing mostly digital work, that FTE count could be re-allocated to get more digital producers or strategists or developers. It’s often a time to reassess what needs and skills the agency needs.

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Layoffs typically happen when you lose clients, or if you haven’t closed enough new business to make your current staff justifiable. Every company and holding group is different, however it typically works by creating an entirely new staff plan at an office or agency level. You have to staff enough people to support the account, while also not assigning all senior staff members and lose the agency money. It’s all about projected margins. Low performers wouldn’t get assigned, and are the first to go. Just because you worked 100% on an account that the agency lost doesn’t mean you’ll lose your job.

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So it is technically performance based? Is it ever personal/political? For example, finance says someone in this department has to go, managers also evaluate who is the least cultural fit?

Also is there a reason for keeping more upper level management and letting go all the senior or mid level people?

Either that or someone politically wanted you gone

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Cash comes in, cash goes out.

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How did your agency handle layoffs? All-agency meeting before they started? After they ended? Both?

Kinda sorta trying to predict if I’m losing my job tomorrow.

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Hi Fishes,

I have offer on LTIMindtree for 13 LPA and CTS for 15 LPA
I am worried about layoffs and job security
Could you please let me know which one is better option ?
YOE - 3.7 Tech - Java, springboot

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Can any ACN fish refer? Firm issued a wave of new hire layoffs which happened to affect me.

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Hey team! So I was laid off from my SDR position about a week ago. A couple months back, I had an offer for a BDR position that I ended up turning down but I really liked and connected with the manager. Is it worth it to reach out? I applied to other positions in the same company. What about reaching out to previous co workers at a different company? Not sure how to navigate this… please help. Also I’m sorry if this is the wrong bowl to post in.

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Does D publish separation rates at different levels? I'm wondering what % of SCs become mgr vs leave voluntarily vs are let go/laid off. I wonder if this number is the same between fed and commercial.

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All these layoffs reminding me that loyalty is dead

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Hearing of layoffs with some Chicago agencies. MSL...Porter...Ketchum...others? Sign of bad economy coming? Hate to sound skittish, but I lived through 2008

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WFH/Layoff/Security
Hi,
CCTC including all benefits is 16.57 with 8.3 YOE, primarily focused on Manual Testing.
Is it worth looking for another opportunity?
I am afraid after seeing layoffs news of EPAM, Publicis Sapient & most of the other companies calling employees in the office.
I love my WFH in PwC India & base location of Kolkata. & the best thing is stability in PwC India, they never lay off!!

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Hi Fishes @ PayPal. How’s the job security at PayPal? Are there frequent layoffs till L25?

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Hi all,

Seeing some posts on layoffs in barclays. Is it true and which category of Employees will fall in that list.

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How is job security in BNY Mellon | Pershing Technology department?
It's very scary to here abot lot's of layoffs in other companies these days.
......
#Layoffs #firing #Job #Termination

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I was in the final stages of an interview with Microsoft two weeks ago, in partner marketing. Then the recruiter told me they were putting the hiring process on hold to assess the need for the role. Well, then we heard about Microsoft layoffs last week. Seems like most were in Xbox and Project Alpha but there’s not a lot of information out there. Should I hold out any hope that I’m going to get this job? Any insights on how much these layoffs have impacted the marketing org and/or new hiring?

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