BPOs need to be thinned down significantly. And, Rajat needs to be put on a travel restriction to India and start spending his IT budget on Americans.
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@ac If they really wanted to boost the stock price relatively quickly, they would be announcing these layoffs publicly, and in totality to get the biggest market bounce. That publicity, though, is not what Visa has ever done in this regard. They go to great lengths to keep layoffs as secret as possible.
Still happening with trickle layoffs here and there. Seems to be primarily director level positions of the three I know of...
Visa Inc overhired during covid.
AI & the office location changed the game.
if you are in role no longer seem as necessary, and/or, your location is on phaseout (backfilling in other offices, etc..) you are on a countdown.
However if you role is still hiring and your location is expanding you are safe for now.
The communication is a disaster, everyone knows, VLT is increasing atriction in the offices they want to remove people, but is not what they are saying, this creates lack of trust.
Don't forget executives keep saying the head count has grown +60% since 2020. Clearly that's the target. Until that happens, the layoff will continue.
Which roles were most affected ? Mid senior level or across all levels ?
It seems like things have settled down ?
This drama will continue for next 3-4 weeks.
This will continue until 2030, almost every Qtr
This same question comes up every few months, and every few months the answer is the same. The beatings will continue until morale improves!
I do not think so. They want to boost stock price.