***** LAYOFFS THREAD ***** McKinsey plans to cut 2,000 jobs in one of its biggest layoffs

[ramudu]

Just now, csrcsr said:

Q4 results epudu vadtsyi bro companies vi basically year end combined??

Next week nundi start but major companies vi in feb early March 

[yemdoing]

Yearly bonus mida chala ashalu unnayi. I did well this year but chusthunte company chutiye gallu will take as a opportunity to not give bonus . 

[csrcsr]

Just now, yemdoing said:

Yearly bonus mida chala ashalu unnayi. I did well this year but chusthunte company chutiye gallu will take as a opportunity to not give bonus . 

Usually employee company group performance kinda divide chestaru kada anna

Company component di assam anukuntuna employee , group di emina vastadi emo ani waiting 

[Netflixmovieguz]

39 minutes ago, csrcsr said:

Q4 results epudu vadtsyi bro companies vi basically year end combined??

Starting next week bro 

[hyperbole]

On 12/16/2022 at 10:00 AM, dasari4kntr said:

Gold­man Sachs Group Inc. is plan­ning to lay off sev­eral thou­sand em­ploy­ees, ac­cord­ing to peo­ple fa­mil­iar with the mat­ter, an­other con­se­quence of this year’s deal-mak­ing slump.

A per­son fa­mil­iar with the sit­u­a­tion said the bank will be leaner in 2023, but it will still have more em­ploy­ees than it did be­fore the pan­demic. Gold­man had some 49,000 em­ploy­ees as of Sep­tember, up from about 38,000 at the end of 2019.

Gold­man also ex­pects to slash, and in some cases elim­i­nate, the an­nual bonuses of un­der­per­form­ing em­ploy­ees, peo­ple fa­mil­iar with the mat­ter said.

Like other Wall Street banks, Gold­man hired ag­gres­sively through­out 2020 and 2021, bring­ing in new em­ploy­ees to help it keep up with an M&A boom. This year was a dif­fer­ent story: An eco­nomic slow­down, war in Eu­rope and ris­ing in­ter­est rates trig­gered a bear mar­ket for stocks and a slump in deal mak­ing. Mor­gan Stan­ley also laid off work­ers this month, and sim­i­lar cut­backs have swept through cor­po­rate Amer­ica.

Some of the job cuts at Gold­man will be part of an­nual work­force re­views. In most years, Gold­man elim­i­nates un­der­per­form-ers dur­ing that process, but lay­offs were sus­pended dur­ing the pan­demic.

Tak­ing away bonuses is an­other lever that Gold­man can pull to trim ex­penses. Like most Wall Street em­ploy­ees, Gold­man staff re­ceived a large por­tion of their com­pen­sa-tion in an­nual pay­outs tied to their per­for­mance and that of the over­all firm.

Em­ploy­ees who get no bonus usu­ally in­ter­pret it as an in­vi­ta­tion to leave. Elim­i­nat­ing bonuses for highly paid part­ners and other ex­ec­u­tives can also give the bank lee­way to pre­serve com­pen­sa­tion for ju­nior bankers.

 

They bought out or leased a huge about to be completed new construction in Hyderabad  and had plans for about 7-8k employees, so mostly outsourcing anukunta

[Vaampire]

1 hour ago, csrcsr said:

Q4 results epudu vadtsyi bro companies vi basically year end combined??

Next 2-4 weeks

[Netflixmovieguz]

Just now, Vaampire said:

Next 2-4 weeks

Bro what to expect?. Fasaakkk or pump?

[elev]

On 12/16/2022 at 2:48 PM, Tellugodu said:

So now the trend is to not bring workers from India on H1 but rather moved the work completely to IND. seems like even more profits.

Yes ee trend anni companies following 

[Vaampire]

1 hour ago, Netflixmovieguz said:

Bro what to expect?. Fasaakkk or pump?

2022 q4 results will be less than q4 2021 for sure. But lot of companies already called it out and saw reduction in stock price too.

 

if er is bad compared to what the company already projected, deep red. Else green.

 

imo, overall market is going to be red except few stocks

[tables]

17 hours ago, elev said:

Yes ee trend anni companies following 

this has been going on for more than 2 decades now.

BOA, Verizon did this long back.. 

[Vaampire]

Coinbase another 20% fasak

[LadiesTailor]

20 minutes ago, Vaampire said:

Coinbase another 20% fasak

Idhi expected Ee… but layoffs in Jan is concerning baaa 

[Pokiriraj]

21 minutes ago, Vaampire said:

Coinbase another 20% fasak

Its sinking

[dasari4kntr]

 

[ramudu]

1 minute ago, dasari4kntr said:

 

slowly banking and financial sector will do layoffs , they use this macro as excuse to cutdown headcount