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Worried about potential recession and layoffs...
Any word on layoffs at JPM?
Anyone negotiate severance?
So I've had 2 hiring managers and several recruiters from Amazon reach out to me about applying for some open positions with the company (android). I completed the coding assessment and now they want me to go through a round of 5 hour interviews next week. Is there a good chance I'll be hired if engineering managers are reaching out to me? I'm really not sure how badly I want to work for them and I don't want to be laid off months after being hired on. Anyone know what Amazon hiring is like?
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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How’s EYP wlb for 3 yoe? Is it as bad as MBB
Saw this at a bargain store today
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I think the issue is and always has been whether our metrics actually find the low performers. There are mediocre performers that just bill without hesitation. Also, a lot of "low performers" are just on terrible projects and either didn't get hours, didn't get experience, etc. Lastly, if you've been on the bench, you're not a low performer, the firm failed to forecast accurately and they wasted your potential. Yeah, so some mice will churn the milk into butter to not drown, but for the most part you can't steer your own direction at these firms.
☝🏿 THIS 👌🏿
We had an MD cut who was a market lead and killing it coz this one other person didn’t like her or something
This kind of argumentative attitude also get people fired. I now doubt and I agree with you that it wasn’t performance based firing, I can totally see unfit attitude. We are friends with like minded people and if this thread is any indication of the attitudes then I can see the firing
Nobody is doing that en-masse. Jerks exist everywhere.
This is the first I’m hearing of individuals being laid off as low performers
Second, we have the data and know that layoffs aren’t happening in any widespread or meaningful amount
Third, what bad economy? I’m looking at earnings coming in and all economic indicators show a booming economy with historically low unemployment and rising wages
Chief
I suppose explosions do go boom
I think you’re being unrealistic. We’re 700k people at ACN, and yes we DO have low performers who don’t add enough value to command all of our, objectively very high in the grand scheme of things, salaries that this industry offers. We hire aggressively in the good times to take advantage of the quantity of work being bought all across our offerings, partially because we know there are quick cuts that can be made based on performance.
Chief
There have been several people on here cut from S& this week who were tier 2 performers lolol
S2 these are not CRT related. Some maybe but most folks were solid T3 or T2.
Chief
I don’t think that’s the general mass categorization. There’s plenty of folks that have and will get cut from “nice to have” areas like sustainability, and also extends to underperforming products. It’s not that they were poor performers, they were just on a product that was not a priority for the business.
Well, for consulting companies folks aren’t being cut because they are underperforming product areas. This is normal performance management. It is not tied to any recession. Our people are our product
But they cut the bottom performers…
Exactly. I get that some not so bottom performers also get cut off but the list starts from the bottom
The people let go by accenture we’re ALL “Not Progressing”. If they hadn’t been let go they would have been on a performance plan with no raise, no bonus and no progression (some were put on plans) in those cases more than 80% end up leaving either because they can’t get clear of the plan or self select out anyway.
This is an annual occurrence and not just at consulting companies. Yes in a slowing market we offer less people PIPs but NP is still NP and no one, absolutely no one, should be surprised by that rating. Certainly not PLs who were on the calls and 99% of the time not the employee.
Sorry if that sounds cold, I don’t mean it to, and I certainly understand that the job market has constricted a bit. But it’s a different thing than a layoff and calling it something it isn’t does no favors to anyone.
We are a publicly held company, we are required by law to report layoffs in any number of countries. Having had the experience myself I say, both being impacted and as a manager who has had to lay people off and a manager who has had to notify non performers they were being terminated it sucks all around. But it still isn’t a layoff and the best opportunity the impacted individuals have to step forward in their own journeys is to not have a sense of entitlement but rather swallow hard, reflect, show their resilience and go get a better gig for them in the long run.
This profession can be harsh to be sure, but this is even more common in industry. Go study Sun Microsystems, Intel, Microsoft, GE, etc. bottom 10% every year in forced ranking distributions
I have seen that most people end up on same or better jobs . There is no generalization of people
BUT, if you were incharge of picking people for layoffs, how would you pick - high performers or medium or low performers ?
I got cut from PWC years ago. They over hired for some projects and then when the projects ended they cut me for “low performance”. When I had just gotten a ridiculous performance bonus and top scores three months prior. It was devastating at the time, to be cut for “performance” issues.
So against my better judgment… It is the bottom performers against your peers
You may find yourself in an extremely strong peer group, it’s happened to me once or twice.
you thought you would absolutely killed it, but you ended up being just meh because your peers are doing much more.
If you are doing good work, that doesn’t necessarily save you from getting separated because if your peers are doing better work…
it’s also important to define what your priorities are and go over them with your PL so that you can both make sure that you are on the right track for success. As a talent lead, I can’t tell you how many people had no priorities whatsoever.
I would also be remiss to say that there should be more transparency on how some people get opportunities. There isn’t always parity that people are able to find the work that will let them shine, and that’s a shame.
It feels like there is a quota of cutting staff to be met this year, meanwhile, to try to entice people back into the expensive new offices, lots of social events and money is being spent (after stating no budget for events was allowed in FY22). Ugh.
There is not a recession either, not with 2.6% economic growth. There may well be one but it hasn’t happened yet