Hi everyone, unfortunately I was recently affected by a layoff at my company. About 30% of their marketing department along with other departments were all let go. I have 3+ professional experience with product marketing, digital marketing, and event management. Im on the hunt for a new job and am fairly new to this lovely city. If you know of anyone looking for marketing specialists or would like to network let me know. Id love to connect!
We are doing performance based separations. I’d also recommend thinking about the net position as places like google having a net hiring impact of around 2% same with Msft as they both hired so aggressively last year
None. We did not over hire and are seeing enough demand for our capacity. Also, we will protect our talent always.
The over hiring is real, Uncle D is quiet,y doing a 15% reduction, EY if the rumor mill is right about 8%. To many right off campus MBAs and junior staff
My guess is 8-10% same as tech and banking, there was way to much over hiring
A2 which completely destroys the entire reason for having India, the purpose of the offshore is dependent on ot having the SMS and Md in the structure to keep costs low
We could use some purging of low performers
Coach
Hmm. Need layoffs for that? What’s performance management for?
For partners or rank and file?
Cost vs value equation. More you make, bigger the target. Better to take chances on more junior resources than higher paid underperforming partners. Simplify hierarchies, consolidate groups, increase market penetration with best of talent
My boutique consulting firm already furloughed 100 people with no pay in the last few weeks.
Sorry to hear that. I hope things look up. How long is the furlough?
The PE owned firms are being held to 20-30% YoY growth targets (regardless of macro or micro economic environments) so I think they are hiring to keep the pyramid growing in line with those expectations but when those targets aren’t met, the system starts to crumble
Which specific ones are you referring to?
Clearview did a 10% layoff last week.
If we believe Gartner - we should be fine . They are projecting 4% growth for IT services .
IT services = labor ... when did services start meaning HW ?
We had first wave of 5% cut. Second wave coming in feb
Which county?
https://www.nasdaq.com/articles/ey-germany-to-cut-hundreds-of-jobs-in-profitability-push-ft
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Are clients pulling back big time on spending? I know a lot of the consulting firms were turning down work in 21/22 due to lack of staff.
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