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Does ey gds lay off?
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Thought this was interesting. Across 160 teams of researchers, just about all failed to make good life outcome predictions on things like GPA, evictions, layoffs, and others. Data followed 4.5k families across 15 years, with 13k features (varied over time). Haven't looked at it directly yet, but will be turning the docs and data inside out... In the meantime, authors claim this as showing the limits of ML. Oh, and it's published in PNAS, so you know there's some big publication energy there.
https://www.pnas.org/content/117/15/8398
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How is the work life balance in cognizant ?
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My LM is so keen on small small things, not related to coding but documentation and all. Atleast once in a week I'm committing mistakes on small documentation points n he is stressing on same. Are there any chances that my probation will not be extended or is it a clue for me from my LM. He is Looping his LM and asking questions/clarifications.
Should I ask him directly or can be ignored or need to try outside. Please suggest Barclays
Saw this at a bargain store today
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How long were you a junior?
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Be the best person with your title at the agency/in your bosses’ eyes. You’ll be the last cut.
Kiss your boss’s ass. Do not complain. Be generally agreeable. Don’t be too demanding. Bake cookies and conspicuously place them next to the finance department.
there was no Oatly for anyone. it went on for years. 😭
The bloody cows stole all our business.
The last recession was brutal, it was the end of the advertising gravy train and the old world of everyone managing everyone else. Agencies started looking for unicorns who could edit, design, write, shoot, produce everything.
Be the person who can do everything
This is great advice. The more useful you are the better. Be a Swiss Army knife. Forward/save any client email talking about your great work. If they tell you verbally, ask if they’d mind putting it in an email to your boss/head of the account. Agencies want to keep businesses and people help do that. Volunteer for stuff.
Second: people who were stupid enough to speak truth to the powers that be + that incredibly useful art director that you can’t put in front of the client.
I was in the last group to get laid off at my agency (which was a satellite office that eventually closed). Was mid level at the time, with a few unique skills and was not overpaid. So that helped.
Third: whoever was in line to be promoted + personal grudges of the new boss.
Fifth: you get merged with another agency
Watch out for clients who take things in-house and curtail media spend or hold big campaign for next year. Switch to clients in growth sectors that aren’t as affected by recession.
Make sure there’s a client who will be pissed if you’re let go
That doesn’t always work. I was laid off and the client loved me and I know they were pissed when they were told I was no longer at the agency, but they just told them I had quit.
Yeah, look for satellite offices to close. They can be propped up in the gravy years but not when it’s lean.
At the time I was in a smallish (about 100 people) agency in a small market. There were 4 layoffs during that time and I survived all of them. I quit because my wife got a job offer (in the peak of the recession) at another agency in another city. The day I gave my notice my partner got let go. He found something out in CA about 6 months later. I freelanced for the next 3 years. It was a mix of good and busy and then some months with nothing. Considering how bad the economy was and how the country was falling apart, we didn’t fare so bad. I just had some pretty dry spells with the freelance.
Fourth: ECDs and SVPs over 40
I worked on a credit card account. It was brutal with waves of layoffs for months and months till it was finally my turn. Today I’d take a think on what account you work on primarily and whether or not it’s recession proof
An all star at my old agency was employee of the month and got laid off within the same month. It’s all politics, there’s no way to predict how they’ll choose. Just be the best you can be and may the odds be ever in your favor.
First: dead weight >40 + 1 or 2 not-yet-blooming juniors
If they’re getting rid of C-level, then they’re probably closing doors soon. The top usually protect their own until it’s C vs C. 😄
I didn’t get cut as a junior (grad 2006 and worked thru the recession) but I also never asked for or expected a raise, salary increase, or bonus. I’m pretty sure the mentality of “thank god you have a job” was the mantra of anyone in my position. Also, be prepared to have that set you back financially for years.
Mid levels last the longest. You can do the most and don’t cost as much as senior folks. Juniors who are not up to speed go fast as do creative services people since nobody making decisions cares what they do anyway. Others on the block are those on accounts that leave or cut budget. In good times they’ll keep good people around a bit to try to reassign them, in a recession they don’t do that.
Which industries would everyone say are “recession proof”?
True, alcohol too.
Was at my current agency during the last recession. There were 4 rounds of layoffs. First one was a small cut to some SVP/EVP level people who weren’t performing. Second one was 10% staff reduction across all departments. Third one was directed primarily towards the direct marketing group but was pretty large, probably 5%. And the final one was a small one, 2-3%. These rounds were spread out over the course of a year and a half.
We lost 2/3rds of our clients during those years and didn’t win a single pitch. Luckily after the fourth round the creative leadership was changed and won loads of stuff/started bouncing back.
In my observations no one is safe. Work hard but always keep your book up to date.
Post 9/11 was brutal... I had very little experience and was just starting out. I could only find very few and far-between freelance gigs and had to work at a coffee shop for minimum wage in between gigs. I did a short FL stint at Chiat and the coffee shop I worked at was really close in Venice beach. I was terrified that people from Chiat would see me working behind the counter.