I'm betting you that next year we'll see even more layoffs. The management has now figured out they can improve numbers without trying too hard by cutting employees. Considering they are incapable of getting better results the usual way, they'll keep falling back on cuts.
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10% Bank-wide cuts of 60%??? Are you saying of 60% of American employees? It's strange how this company can be so racist in it's hiring practices.
2023 wasn’t “Just the beginning of anything…”
2023 was actually the lowest layoff year that I’ve seen in 40 years. 2023 was easy living with a relaxed feel. One attempt at 1% layoff was botched andfizzled out at 0.05%.
My understanding is that January - December 2024 will bring back the 10% Bank-wide cuts of 60%. Why don’t you get to know your manager better and have a discussion.
These managers don’t bite.
8gab
Post your resumé and we’ll help. All sectors are hiring and it’s a hot market. But when You compare financial services, tech, fast food, WalMart and other limited career mobility options it tells me that you have no real idea what you want to do. My read is that you should work at WalMart, move up as you increase your education and move into supervisory roles.
If 2023 was just the beginning, are you actually calling for two straight years of no layoffs? That’s a ballsy call, but I personally think that the long feared layoffs will start in January and will be nothing like January 2023’s sole 0.05% layoff last January 6th.
We’ll always look back fondly on the tranquility of 2023, the year of no layoffs.
The labor market is great for SOME types of employment. Unfortunately even though BNY pays low, it pays better than Winn Dixie and McDonalds. Now those places are hiring!
Hot job market?? That’s a laugh. Layoffs are widespread across financial services and tech. Restaurants and retail companies are closing locations left and right. The real estate sector is a wreck. Statistics can be found to make whatever case you want but a lot of people in the real world are here to tell you that this is most definitely NOT a good time to find a job.
@5iep+1qbPq5zX the key metric is labor force participation rate. Unemployment numbers drop when folks run out of unemployment or stop seeking employment.
2023 was not a significant layoff year.
2024 will mark the beginning of the Bank’s return to serious layoffs.
The good news is opportunities to move are easy.
We are in the hottest job market in four years. anyone with skills can name your price. Read the article and take advantage of it.
https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm
We are in the hottest job market in four years. anyone with skills can name your price. Read the article and take advantage of it.
https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm
2023 ranked as one of the lowest layoff years in the last 40 years. February 2020 to Dec 2023 marked the lowest layoff level in 40+ years.
Buckle up and commiserate with a veteran of real layoffs, i.e. a boomer.