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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?
Soft layoffs at ProServe today ?
Any word on layoffs at JPM?
Layoffs at Omnicom shops today?
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Go home pharma job titles, you’re drunk.

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When I started my new job, I experienced similar situations with clients reducing scope or being advised not to use our services. While it can be concerning, it's important to remember that client dynamics can change for various reasons. Not much you can do at the moment.
I just always stay worried about layoffs, so when the client says something like this I’m no more bothered than any other day.
Maybe not laid off but definitely booted off of those projects. Your ad agency might pull some strings to keep the accounts or just let fade out all together
If possible, work on expanding your client portfolio by seeking new business opportunities or exploring ways to provide value to existing clients. This can help mitigate risks associated with client fluctuations.
Start networking and talking to people at other agencies. As long as your work at an agency, you should always be thinking you can be laid off. Therefore always network. Always.
In this industry, you should never be surprised by layoffs.