There are a lot of rumors going around about Sept layoffs, and they’re all grim. Everybody talks about massive job cuts. And this is on top of stealth layoffs which are habitually happening every day now. Coming to work and expecting to lose the job every single day is no fun. Anybody knows more, or can confirm rumors?
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Reduction in headcounts is all they have left in the tank to show any sort of profitability in Q3. Watch out for the November decapitations as well, as that will also be their answer to a shiny Q4 balance sheet (and beyond.) Just look at what Intel is doing to their workforce all in the name of profitability to the shareholders!
The situation here ki-ls me, seeing so many out here going through such anxiety and heartaches, learning that all those years of your good performance and working long hours, holidays, and weekends means nothing to the overlords. This was once such a great place to earn, learn, and advice one's career and family/ lifestyle. Get yourselves out of this place on your terms, not theirs, as your peace lies in your strength in doing so. May you all "Live long and prosper! "
It is unbelievable that 2 down days in the market (which is already 15-20 % gain ) is suddenly ushering recession. Even Jim Cramer will not make that prediction. No I am not in denial. The audacity in calling out a recession just amazes me. Thank God these folks are not running the firm.
"But yes I’m being told from people who would be in those meetings that Sept will be bad at least for my location."
And who is making up at this juncture. So will you come back and post as follows
"I am being told that there will no layoffs in my location" No - that will not satisfy your desire to rile up and enjoy the noise
You are not sure about both the statements - That is the absolute truth.
Pittsburgh is sunk. Stick a statue of a hunky steelworker in front of U.S.S. and close up the city, It’s done… stick a fork in it… just Let it all rot away.
From what I have heard from multiple managers, so-called "growth center" Pittsburgh will be the hardest hit. If you make over 100K and are over 40, worry. if you make (much) less than 100K, you will not be affected.
September’s guaranteed. As to the comment from the OP about rumors being grim, frankly, the US and UK locations are a grim daily reality. Working here is like playing for the Chicago White Sox. All you get is losing and suffering. Problem is, the job market is NOT good at all for professionals in or near locations that this place is taking a chainsaw to. It’s terrible and bleak for people who have put in so many years here and yet are not able to retire or just fly away. Loyalty used to be a treasured asset. Now, loyalty gets you trashed.
It only makes sense ie September, they won’t owe you 401k match due in 2025 and if bonus eligible if cut before early October then the bank saves on both of those allocations
I was told by ex-Managers in June. They said keep eyes on Sept, it is huge round.
I not believe at that time because Market was good, everything was new high. Until the last Thursday, recession is real and coming.
If they will do massive layoff, they may think nothing wrong because every companies will do the same. Management will keep stock price and cash it.
@frz+1
What location are you in?
Well, not sure how much “anonymous” confirmation you can get that’s different from the last post asking the same question. But yes I’m being told from people who would be in those meetings that Sept will be bad at least for my location. Some people who would be in those meetings already know that they will be part of the layoffs too. I’m guessing if you are in a growth location, you won’t feel it as bad except for hiring freezes. All I can say is try to enjoy the rest of summer. Those of us not involved in those meetings won’t really know until it happens. But I do remember layoffs in my group last Sept, so it seems pretty realistic.