Can someone help me understand why companies are doing layoffs right before the holidays? Seems to be the most inhumane time to do it?

likefunny
Posting as :
works at
You are currently posting as works at

Because they dgaf about you

like

Because it’s year end and probably has to do with budget planning versus optics

like

But isn’t the optics so bad tho?

likefunny

Shareholders don’t care. Capitalism has no inherent bias favoring ethics.

There’s a reason why Scrooge is the allegory used for Christmas morality stories.

like

Year end.. and next year forecast not looking good.

like

Seen a ton of people getting cut in Utah. Funny how those companies preached about family and taking care of each other and now preemptively laying off people before the holidays lol.

like

You’re always a number to management or consultants that make headcount decisions be it layoffs, divestiture, etc.

Everything a company does is in the best interest of their profits, nothing else (e.g., their employees, etc)

like

Best interest of their shareholders. Shareholders usually want $ but sometimes they decide to put other considerations ahead of short term $

It is often a year end financial review and as they think through Q4 and Q1 projections, they may show quarterly or annual loss but are trying to forecast how they will bounce back and have in some cases like Alexa, cut a large unprofitable initiative or unit.

Many executives obviously have incentives related to share price and they’re hunting to hit a target price.

It’s been pretty spotty for me. My biggest complaint is how it’s account driven. I’d like to have one in each kids room.

They want the cost off their books for new year.

Funny how all this profit talk didn’t come through during recruiting. In reality the opposite was preached.

It did. It was part of the complaining about having to increase compensation to deal with attrition

If they fire you now they can remove your salary from the next FY budget. They also don’t care that you’re a human being so there isn’t really a con, just pure winning

Related Posts

Didn't have top grades, wasn't on law review. Worked at a midsize firm and was laid off in march-- have about 3 years experience in a hot practice area. Have been applying and had some interviews at larger shops but nothing has come of it. I'm still applying to roles (not many out there) in my area but coming to the realization based on number of larger firm rejection letter that I may not find a role. Where would you go from here if you were me? Was making good money at the midsize...

like

I was just laid off due to COVID. Felt invincible when the crisis began but now feel lost as if my career was ripped out with the tide. Slowly gaining motivation to get back on top

like

Layoffs at Walmart corporate 😬😬

likefunny

Any word on layoffs at JPM?

like

I was fired after I reported a partner for a serious (criminal) ethics violation. The firm covered it up. Are all companies like this in the end? I’ve lost my trust and don’t know how to start over.

like

I heard from my head that there is a lot of slowdown in VW Germany... There is Hiring freeze, level freeze and all ... And soon that will spillover to india. So be prepared for very less hikes in coming cycle :( Also automotive sector in general is struggling with tesla laying off 10% workforce recently. Maybe time to make a move? What do you say fishes?

like

Is it safe to join PWC india at this point of time. Are we expecting any layoffs?

like

Anyone dealt with age discrimination at work or thought they were fired because of it? I have a strong hunch I was let go because I'm older than most of the team and they're trying to get a "fresh perspective." To me it just sounds like they're firing anyone over 50.

like

Any news on layoffs/recession in banking industry?

like

Anyone think Salesforce will have layoffs in the near future?

like

I read to the kids a book that ended with a line like, "If it was a good story, start all over."I told the kids I really only did that once in my life regarding a book about a teacher going to teach in Africa. In reality it was about a missionary. I hid the name of it and what it really was about. In other instances I've also explained the meaning of life is to love sacrificialy without telling them the source. I feel guilty hiding the Truth. How do you speak the Truth without being fired?

like

December layoffs anywhere?

like

Tax Senior here. I’m well liked around the office, I put in the hours and work hard, I haven’t had any dumpster fire projects, but I am a mediocre performer compared to my peers (not as strong project management, communication, not as confident). I just got told they’re firing me. Should I expect severance? Have other people been fired for similar? What did you do with your career?

like

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?

like

I was laid off this month from a US-based company where I've been a reporter for the past 3 years or so... I live in Europe. I wonder if I'm likely to have luck with other remote-friendly US companies. Or are we already past that?

like

Given the outbreak, are places actually going to be hiring right now? Recently laid off from 9-5 and my freelance is starting to fizzle.

like

What if Elon Musk replaces Rajesh Gopinathan as the CEO of TCS?
All the useless managers will be fired?

funny

Do you think it is quite possible to get fired by asking too many questions as an experienced senior 1? If so, i might get fired after this busy season.

funnylike

After 10 years of working as a FTE PM/producer I’ve now been laid off (thanks Covid) and am looking to start freelancing for the first time. What advice do you have for a new freelance PM/producer?
Also, what kind of insurance do you take out as a freelancer?

like

When are the layoffs going to start? Anybody care to wager a bet?

More Posts

Anyone at EY know about VBM practice and SM comp?

like

Anyone want to work for us in our chicago office and make me some referral money?

We’re looking for ACD’s, seniors, and a mid-level writer. Send me a DM with your book(s) and i’ll refer you.

likeuplifting

Any job openings? Lol

funny

Just starting out in consulting as a technical analyst...any book recommendations

like

Hello guys, Looking for a job in finance domain ( accounting, liquidity reporting) in Ireland. Any referrals please connect.

like

Recruiter at ddb Chicago? CD? Trying to connect. Thank!

like

Democracy is when the government does something only a quarter of the population wants

like

What's your morning schedule like? Mine 1) wake up 2) curse and cry looking at myself in the br mirror 3) dress nicely to make myself feel better and 4) coffee up and head to office.

likefunny

Any Bain folk willing to connect?

Bain & Company

like

How many days Deloitte India takes to release offer letter. I tried to contact HR she said that they are trying to get approvals and it is in progress. It's been a week that i have uploaded my docs.

like

Hi everyone 👋🏽! If you were able to do both situations. What setting would you prefer working for google (remote or in person )? If in person what are the best US offices to work in (top 5?)

likesmart

New to the bowl but looking for an accountability community.

This morning I did 30 minutes of cardio and 50 minutes of upper body strength training.

likeuplifting

Anybody joining Barclays on 11.11.2022(tomorrow)

like

Hourly pay rate

like

Hello all,

Recently I got a offer letter from TCS, my concer is on creating UAN number.

When I was pursuing my BTech at that time itself I have done some job as part time in a power plant so they have created an uan number for me. I have worked there for 2years approx after that I left. and also I withdraw all the amount from uan number.

So now my question if I don't want to give my uan number in tcs because if they see the details they are going to questioning on me..

Can they create a me

like

Sterile processing technician

Anyone at EY willing to talk about their experience and potentially refer for a salesforce senior dev position ?

What is the salary range for a Product Manager in the Atlanta area? I have 3 years of experience as a Product Specialist and have been offered a Product Manager role but don’t know how much to ask for. It’s in fintech. Any insight is appreciated!

like

My firm is looking for a Jr IT Project Manager (with ~3 years exp) for our Boston office. We offer great WLB, hybrid work and nice colleagues. DM me for a referral application link 💪

likehelpful

Additional Posts in Consulting

What’s a good side hustle ?

like

Told a friend of mine in tech I was considering moving to BCG. He asked me if I would have to move to Boston.

I followed up by asking what he thought the top consulting firms were. "I'd guess PwC and then McKinsey are the best. I've also heard of KPMG, Deloitte, and Bain, but I don't know much about them."

Just a reminder that outside our bubble no-one really cares about firm prestige etc.

likefunnyupliftingsmarthelpful

Is it a bad look as an analyst to wear a $1-2k watch around SM/partners?

likefunny

This job is miserable without travel.

likefunnyupliftingsmarthelpful

How did you frame going back to your old firm? Was it awkward?

like

🐠 Vegas meet up on Jan 6th? Comment if you're down!

like

Any book recommendations for the summer vacation season? What's your favorite book over the last year?

like

Layoffs at Walmart corporate 😬😬

likefunny

I'm an introverted person, like to keep to myself, focus on work, spend the rest of my time on family, gym etc. I've been told that I need to work on my communication and client relationship building skills. any books I can read? I don't follow pop. culture anymore, no longer actively follow team sports (but sporty myself) as I consider it bread and circus for the masses and don't rly enjoy work drinks... Am I doomed? Personally I am happy and love the work but fear for my career progression.

like

Pro tip: Get hired in November for a free 6 week benchcation.

likefunnyhelpfulupliftingsmart

I know Mck is the top for strategy, but in terms of digital/design in top consulting firms which do you think is better? Mckinsey digital or deloitte digital? (Or another..?)

like

My roommate just walked into my room without warning and no knock (and for a stupid reason too: looking for the cat). How do I politely ask not to do that? What if I was changing or something? that’s awkward

like

Signed up for the GRE yesterday and took it today. I got a 155 on quant and 155 on verbal but have no idea if this is a good score or not. Anybody have some input? Also, is the gmat preferred over the gre for business school admissions?

like

Top consulting firms for building mobile apps - IOS or Android?

like

Any tips/warnings/advice on potentially trying to move from Big 4 to either MBB or a T2 boutique firm? I’m anticipating reaching M1 in Big 4 within the next 12 months. I really like my current practice, but frankly as I eye comp across the bowl, I’m hungry for more elsewhere, even with the recent Big 4 bumps. I have 5 YOE (3 consulting, 2 industry) all within somewhat niche subject matter, as well as my MBA (non “prestigious” school however). Any thoughts or clarifying questions are welcome, TIA

like

Any recs for CIPM study books?

like

My younger brother has the opportunity to do Software Engineering at FAANG and consulting at MBB as a fresh grad. I told him to do SWE, but I’m afraid I’m giving him biased advise cause I’m jaded in this industry. If you were me, what would you advise him?

likehelpful

How much do partners at big 4 make on average? How bout MBB?

like

What are some of the best consulting firms for a software engineer? Is MBB still considered elite in this area too?

like

One of the reasons I want to transition from industry to consulting (tier 1) is that I get frustrated when I have to collaborate with mediocre people. My assumption is that Tier 1 consulting firms hire really sharp people and if I can get in, I’ll be collaborating with folks on top of their game (not expecting much from clients). I’m aware there are personal aspects I need to work on like my mindset, patience etc etc, but I just get so frustrated with blatant stupidity.

likefunny

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal