Been hearing that our European peers are fully staffed (even understaffed in some cases). Therefore wondering what was the point of the recent layoffs in Europe - I assume it was more to do with removing the under-performing staff?

likefunny
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I’m giving executive leadership a ramping

likefunnyupliftingsmart

Sorry I'm late on this. Europe had a massive amount of PTO in August and early September. Something like 20+ people out. So yes, Europe has been at capacity, but largely driven by the PTO.

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Lay offs in Europe was low single digit... this doesn't impact delivery at all. PTO and sabbaticals pushed Europe into backlog.

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Pretty simple. We lowered the hiring bar and were lenient with underperformers when we had no slack in staffing. When that slack came back, so did the opportunity to enforce our existing performance standards

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SAY IT LOUDER SO THE PROPLE IN THE BACK CAN HEAR IT

funny

I would assume it was a « panick move ». They could not really anticipate how activity would evolve in September and they acted (too) fast after slowdown in S1

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Another shocking display of ignorant comments. I'll let FAANGs know they can headhunt executive leadership roles from the Altman Solon Fishbowl, where everyone is wise and has 20/20 economic vision

helpful

Agreed, they seem to think that a firm that was literally losing money and would have to take on debt at 40 year high rates should just continue to dig itself a hole until it is bankrupt.

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You guys need to realize the firm was losing a considerable amount of money. So they would have had to take on a bunch of debt at the extremely high interest rates we have (due to the historic inflation caused by governments printing money).

Yes the layoffs were performance based, but still with the uncertainty and high rates they didn't really have a choice but to cut to the level of business at the time.

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One caveat, I don’t think they were as much performance based as much as they were future potential based. I think that they are highly correlated, but if someone had stalled at a given level, and did not, seeming, we have the goods to advance, they were a prime target to be let go.

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Yes to understaffed. We are wondering the same thing

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likeupliftinghelpful

Just got laid off but am holding onto God’s promise. Instead of wallowing and being bitter, I know I can trust Him to be faithful! God always has a plan and is always right on time. ✨

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likehelpful

Smart to look for a new job with a “recession” looming? Wanted to leave by end of the year, but nervous I’d be the first laid off at a new spot

likesmartfunny

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