How could there not be? During a recession each company has to prove that they are serious about cost cutting. You don’t do that by stop providing styrofoam cups, you do that by chopping off headcount. This, time after time, is what shareholders expect regardless of the company name. It doesn’t matter what your bottom line is, how much revenue the company has in cash, how well the company may be doing, none of that matters. The most fastest assured way to prove to the shareholders that you are serious about cutting cost is to layoff employees. As I understand it, this Q1 will be a tsunami of layoffs. Prepare yourself, this is happening.
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Everyone is concerned
Layoffs to start Jan, late Feb for sure. Most hirings after the fact will be global but will be less so in the US.
Those that check a box for ESG will be safe and sound.
Caucasian males…well they gotta go, bottom line.
They have already merged some groups and\or trimmed away some managers and shifted those teams under another managers. Some managers now have double the staff, responsibilities and such. Now its time to focus on the “not manager” people. Those will be stress tested this upcoming Q1 with layoffs. Their work will transition to others who will be pressured with implied threats of “everyone is laying off now, prove you are worthy to stay by working extra extra hard to make sure you aren’t next.”
😥
This round of layoffs will be deep. It won’t be as bad as the 2008 bust but it will be rather deep nonetheless.
I’ve heard that it’ll be extremely deep cuts this go around. Maybe even some groups dissolving altogether. Whoever reads this post, save your money, update your resume and hope for the best.