Last time it was the mortgage folks. Who will be the first on the chopping block this time?
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It's okay, you can always get re-hired as a robo-signer doing foreclosures.
The pay ain't great, but you get VP in your title, even if it's your very first ever job.
The least profitable groups, except for DEI.
I'd love to see a pie chart showing all the different classes of people here. I bet there isn't ANY individual group that is a "majority".
Brokerage will be hit, always overdo when market tanks. Plus they have a bunch in Bangalore who can't speak English. Hold time there is almost as long a tech help
The ones in non-hub sites where the building leases will not be renewed.
The progressive left, they whine more than they work
Knowing how appropriately we deal with diversity , ethnic minorities will be the first ones to go kaput before older folks .
The 50+ crowd needs to get together and form their own DE&I group.
These are the groups:
- Older employees
- Ethnic minorities
- Pregnant women
- Employees on disability
- Employees in non-profit generating roles
- High performing employees who don't spend time being friendly to management.
It used to be marketing. Marketing and advertising were considered an expendable luxury during down times. HR too, since neither of those functions are profit centers.
Not here though. At Wells they are more likely to cut the people that provide customer service than the ones who create PowerPoints and LinkedIn posts.
So the call centers and tellers get hit.
My experiences working mostly with H1b holders from China in quantitative areas.
The group that first gets laid off is usually American.
“ You are assuming we'll hit a recession which may not happen.”
You may have something there. As the saying goes, “media has successfully predicted 14 out of the last 9 recessions “ 😅
It will be mortgage - the layoffs started over a month ago and will continue to spread
We're already there. It's a trailing indicator, they boldly announce it after 6 months of data rolls in. 2 quarters of negative growth, so yeah, 190 days after it starts guys in suits on TV tell us what we already know. Breaking news!
We are already in a recession. Global tonnage in cargo is dropping at a strong pace.
This time it will also be the mortgage folks, and then they’ll be all “wwwwhhhhaaaa” when they have no one there who knows mortgage defaults laws and regulations.
You are assuming we'll hit a recession which may not happen.