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Visa maintained its staff, according to the CEO, we will add another 5k jobs this year and next. Visa didn’t do the over hiring other tech companies did, and so the slow down is less impactful, not to mention our business isn’t impacted the same ways as others
Interesting, what type of companies recruit from Visa?
I partially listened to the earnings call. My overalk takeaway is that Visa will continue to do decently in a recessionary environment. Found it particularly interesting that yes, people will pull away from large discretionary purchases but in some cases, Visa will get more transactions because consumers may spend more frequently at lower price points. (E.g., filling up your gas more often/ only 1/4 tank at a time)
I think we also need to consider the K shape recovery dynamic, there is still a large affluent group that will continue to spend even through a recession as they saved more than they normally would have during the pandemic restrictions.
Chief
No layoffs during the Covid recession
Thanks! What about furloughs or reorgs? How often do re orgs occur?