was last thursday's layoff the last round until we start again in Feb? or is there a December round planned this year
4 replies (most recent on top)
December 2nd
The only issue with the argument of reducing headcount before EOY is that laying people off now keeps them in our numbers into Q1 because of WARN (60 or 90-day notifications). With that said, I believe we will still see layoffs through the end of the year and they will likely increase due to lower than expected business. Volumes across the enterprise are lower but mostly in Home Lending. It will continue to be the drip-drip style of layoffs too. Don't expect a one day massive layoff like FaceBook/Meta. It makes too much sense for this regime to rip the band-aid off and move on with the business. They feel the need to hide what's really going on to our elected officials; that we are laying off state-side and off-shoring.
Q4 is always a bad one for layoffs. There is financial incentive to reduce headcount before EOY, particularly now that 401k matches are only paid out at year's end.
Management may try to avoid bad publicity by dribbling them out, but they'll still happen. It's just the way they operate around here.
I bet we find out in a few hours.