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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?
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Quickest way to make a business look profitable and keep shareholders happy… lay off staff
Rising Star
The only way service-oriented sectors like advertising can increase profits when there’s no growth is layoffs.
There aren’t any resources suppliers they can renegotiate contracts with. No production lines they can shut down. No land they can sell. No R&D that makes a major breakthrough.
Employees get the ax for profit margins.
Rising Star
This approach…seems like suicide? In the long term?
Rising Star
Yes we are witnessing the collapse of the holding company pyramid scheme.
Unfortunately the ones responsible for ruining the industry have ensured that they will be well insulated from its demise.
Good riddance (is coming)
They lose pfizer already?
Did Publicis have layoffs?
I feel like they purposely hired a lot contractors on Pfizer to easily let them go and not call it “layoffs”.
Layoffs in specific divisions or accounts happen regardless of new business wins or earnings growth. Grow up.
What?
Layoffs are normal in this business. We are project and client based. That said, I work for Publicis and it’s a good company. No knowledge of any. Maybe a few in some agencies due to client loss. What do you expect? Rev streams evaporate… you have no $ to pay people. They ho elsewhere. It’s the business. We are doing alright and I feel it’s because it’s actually a well run company as a hold co and the agencies are also mostly well run, including my own. I’ve been in this business 22 years. It’s not perfect but it is what it is.
Layoffs are one of many strategies businesses utilize to stretch out losses and runway.
Chief
You mean ensure higher profit margins and C-suite bonuses. Especially having won Pfizer.