With all the layoffs in the IT area, is Finance area will take the next hit with all their bloated salaries?
11 replies (most recent on top)
Messages regularly taken down here. Big brother has a long reach.
Well,....ya....I believe we all know its doomed as we know it now.
What will it morph into is the question...parted out? Maybe.....we shall see.
Bringing in consultants means management is incompetent and the board needs to clean house. Especially if the company hires any consultants to executive positions. If they do that, you need to get out ASAP because the company is doomed
When ROI head hunters (consultants) start their blitzkrieg of cost cutting....IT is easy pickens for them.
I understand why IT is downsizing. They did have a bloated payroll. Unfortunately, a lot of good people were let go in their quest to cut expenses. We all know how these things go. They bring in a new executive to cut the people, but then he turns around and brings in his friends. After about 3 to 5 years, a new executive will come in and laid off those people and then he brings in his friends. It’s the same cycle, repeated every few years. What’s upsets me the most his these high level executives walk away with golden parachutes and the average employee walks away with nothing. That’s the world we live in. God Bless America
Finance layoffs scheduled for mid September. Reinsurance finance will be impacted among others.
All I know is many folks over there are already looking at options.
@1awr+16nblB7q agreed;; totally rough market. Rifd in June also - daily applications, super slow movessssss
For Blackboard, it is public info - WARN notice was filed with NY State for Aug 31 onwards.
Good luck to that team in finding a job outside. It is a rough market.
I was RIFd in June and yet to find a job. I apply to 150 jobs a day.
yes - obviously; the new insurance model dictates: 1)best underwriters; 2)appropriately scaled claims handling 3) risk managers (reinsurance/treasury/small corp finance team etc,) 3) Automate everything inbetween
Someone's a little salty. Finance for life