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Soft layoffs at ProServe today ?
Rising Star
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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?
Layoff going on in Synechron ?
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Any McKinsey digital folks here?
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Rising Star
They all mutually agreed that the vibe is off
Fr Fr not bussin no cap.
Stock prices tanking. And there’s a lot of make-work jobs that can easily be cut
Imo it’s Opportunistic. Since layoffs are in general not a good look they hope to slide under the radar of some of the bigger layoffs happening. I think a lot of companies would love to trim the fat every so often and hire new people at lower wages etc. before anybody @s me this is just an opinion and not backed by any facts.
We got tired of people hating on us with those day in the life TikToks and decided to do something about it
Tbh I don’t think those videos are helping. If I was leadership I’d call those people out and get productivity or drop them
Chief
Perhaps they want them off the payroll before year end for finance planning reasons?
Rising Star
Twitter is giving people cover for cuts they wanted to make anyway.
As interest rates go up, growth in the future becomes relatively less attractive to profit in the short and medium term so the public tech companies need to re prioritize.
The private ones are cutting because they know they’re going to need as much runway as they can get over the next 18-24 months.
Raising capital will get more difficult, valuations are in decline, and nobody wants to do a huge recap if they can avoid it.
Chief
They decided that they have to be profitable. They don’t plan to hire anyone. Therefore, they don’t need recruiters.
project samurai ??
To get more profitable fast before their stocks further tank. Beholden to the unhappy shareholders
For startups, VC money has stopped, so they are trying to save money to stay afloat. Labor is one of the largest costs that can be adjusted for a startup.
For those that have IPOed, investors want profits — or at least actions to reduce costs to improve the stock price. Similarly, layoffs are an easy cost saving measure.
Q3 numbers are out, and they are ugly.
The underlying economy is very healthy and companies are exceeding their earnings estimates. No company wants to get rid of their talent because they’re nothing without them. There’s no reason for the entire industry to get rid of all their people when only one or two companies are feeling the pain