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No it's not just you, I think some companies are laying off just because other companies are.
Yea it’s now a trend. Elon started it when he bought twitter and laid off half the staff but companies are now following trend but to their own detriment.
Working in tech for more years than I want to state. It’s somewhat cyclical. Tech companies way overhired during covid and it was a race to staff. Ridiculous offers and $$$ being tossed around to land candidates. Lots of company to company title and job hopping. Fast forward to today and profits are impacted by salaries and benefits and the sheer number of people employed. Jobs are redundant across teams because everyone need an X on their team so everyone hired an X. But that X role could be shared across multiple teams because 5 Xs are not all busy. It’s a failure in senior leadership to have enabled and allowed such over hiring yet none of them are being let go. Whoopsie. Looks like mistakes were made - surely by someone else not me. “They” Let you hire too many people in the Zeta division. We were going to eliminate 50%. Sorry. Go do that and come back for our next round.
Agree its kinda like how Google overhired during the pandemic, now they need to make cuts. And wrt Chase, we had devs creating stories for mandatory HR compliance training 🙄 Most were sharing stories since there weren't anything new. I collected free salary for 6 months because the team didn't have any new work. Bunch of us were taking half day lunch breaks
Worst I've seen in my career.
It's a hire and fire cycle at Chase
We had 2 rounds of RIF so far and management is saying they need to cut 10% more by eoy to make the shareholders happy.
We were hiring like crazy the past year and obviously had so many redundancies with bloated product and dev teams