The word is there will be some more in January, although not as numerous. If this is true.... this really becomes wtf???
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What ELT will have believe is
"We are a nimble organization. We will respond and have appropriate talents to meet the challenges."
but what they really mean and what we see is
"We don't have a product to sell and no clue or vision for the future. We will jump on the next bandwagon if we hear of it. We'll get rid of anyone that catches on to us and hire to ensure we have enough under us to justify our existence."
Correction to two posts down:
AS thought he was the leader of T-com. He wasn’t. He never was. But he’ll make you think he was.
And he would hold you hostage on a call for 2 extra hours if you let him.
1st week of Jan expect more layoff's. CSM organisation and tech sales will be targeted.
COME ON GUYS! TDC has been doing this for years! The ELT lays off in Q4, tells the remaining employees they're safe while adding to their workload, then lays off again in Q1, then kicks off a hiring event to make it look like they're booming. You could literally set your calendars to it... but I am glad to see a few chaos creators in Digital Marketing aka "COE" have finally been removed. That AS guy was the leader and I'm happy to never have him on a call again.
McK fueling more layoffs of workers and not middle management?
https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/the-organization-blog/middle-managers-hold-the-key-to-unlock-generative-ai
https://www.mckinsey.com/capabilities/people-and-organizational-performance/our-insights/are-middle-managers-your-next-ace-in-the-hole
They've been doing silent layoff for awhile. In last year, ELT laid off talents and other groups saved them to avoid a disaster from losing them. Check out product support and see where some of their members are now.
Certainly a growing company. They hired 1 this month and laid off 300 with more to come. Now that's a growth AI company if I ever saw one.
ELT usually have friends and family waiting to come on board. They post the jobs for compliance to throw people off path of nepotism.
So, they’re hiring? Lay off 300 and hire 1? With cheerleaders lake this, no wonder TD is circling the drain.
You do know that they are fake roles advertised to capture resumes and to give the illusion that they are growing/hiring.
But they have already filled one of the roles. So they clearly are hiring…
ELT is incompetent, don't realize detrimental effect of layoffs, fumbling around because no real strategy, and so reacting.
But the following are also true:
- spread the layoffs across quarters to get rid of a protected class of workers to not attract attention and scrutiny
- avoid employee and customer panic of the real dire state of the company
- doctor the earning numbers as needed to look good and don't do it all at once
- maintain a big organization to give the high paying S-B ELTs people to manage and justify their own existence
5wmu+1pDiZLTC, spreading out the cuts show an improved performance over the previous year’s quarter. This is just a shell game with no prize for the employees.
The future does look bleak when even the skeleton crews start getting cut. Good luck all.
Why can't they finish all the layoffs at once ? Why spread the layoffs across the year(s) ?
You do know that they are fake roles advertised to capture resumes and to give the illusion that they are growing/hiring.
3 years into the CSM experience and it's been a complete failure. Underinvestment in the role itself means the remaining Csm's are stretched across too many accounts and simply have to choose which customer they will focus on to the detriment of others. Major accounts which we promised to the customer would have a dedicated csm have realised that this is simply not true.
Confirmed more lay-offs due 1st week of Jan. Finance, tech sales and Csm's will be included in this sweep.
But they’re currently hiring 3 CSMs.
Confirmed more lay-offs due 1st week of Jan. Finance, tech sales and Csm's will be included in this sweep.
That would be breaking news - clearly if the exit numbers are to be taken true, then they will roll into their new financial year. Am sure CRO Claire will love that....despite their best efforts to clear the decks before year end with their we are TD AI now dream and we can do everything.
In November 2022 TD did layoffs on the Product Management side
In January 2023 TD did layoffs in GTM
Perhaps this year is role reversal?
GTM layoffs October 2023
PM layoffs in January?
The stackIO employee has done harm to the company. As long as he is around, layoffs have to continue.
WTF is right but why are you surprised? This is what ELT relish doing to
- mask continued lack of product, innovation, revenue, and real growth by perpetually reducing expenses
- preserve ELT and friends and families bonuses and RSUs equity
- continually and deliberately reduce headcount and workers of core database product without alarming customers and workers using a big bang layoff
This has been happening for many years but accelerated over the last few years and pace and skeleton crew is more evident now. Read all the posts by many experienced people on the inevitable demise of this place. Here are a few to get started:
https://www.thelayoff.com/t/1pmYcDpJ
https://www.thelayoff.com/t/1o0Bc9KP
https://www.thelayoff.com/t/1muOlWq1
https://www.thelayoff.com/t/1lVRXXXw
https://www.thelayoff.com/t/1mNJBkOR
https://www.thelayoff.com/t/1pn8Amhf
https://www.thelayoff.com/t/1pnbH6Cj