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

[Pandubabu]

On 2/13/2023 at 9:19 PM, dasari4kntr said:

i have a friend working there...but he is doing remote from east coast...

ippudu call chesi adigithe...feel avuthademo...will call him sometime this week...

 

On 2/13/2023 at 10:09 PM, dasari4kntr said:

ohh...even this is also difficult for him...

he was my ex colleague in bank...few years back...but he joined walmartlabs..and doing remote since 2021...

he asked me also change to walmartlabs...and offered reference...

he dont want to go west coast...because he settled here and west coast high cost and his wife also working here..

i think its tough for him...

There will always be exceptions

[argadorn]

Apple layoffs contractors anta

[ramudu]

https://www.reuters.com/business/retail-consumer/online-fashion-retailer-zalando-cutting-hundreds-jobs-2023-02-21/?taid=63f51f49e2cb5f0001a0bb0d&utm_campaign=trueAnthem:+Trending+Content&utm_medium=trueAnthem&utm_source=twitter

 

 

[ramudu]

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

[Operating]

On 2/17/2023 at 1:30 AM, argadorn said:

Apple layoffs contractors anta

Post proof 

[BommaliNinnodhala]

37 minutes ago, Operating said:

Post proof 

What will you do with the proof man —

[Operating]

12 minutes ago, BommaliNinnodhala said:

What will you do with the proof man —

Put it in your G 

[BommaliNinnodhala]

6 minutes ago, Operating said:

Put it in your G 

Give respect and take respect— yevvariki bhoothulu raavu anukuntunava — analeru anukuntunava — growup

[pakeer_saab]

On 2/13/2023 at 8:27 PM, argadorn said:

Enti man e sadism 

sadism kaadu true, H1 is not designed for remote work long term wise, it takes salary into consideration based on location in LCA.

I had a RFE for living 50 miles away from client location.

COVID gave an exception for fulltime remote, but most should return to office pretty soon, else look elsewhere

[argadorn]

3 minutes ago, pakeer_saab said:

sadism kaadu true, H1 is not designed for remote work long term wise, it takes salary into consideration based on location in LCA.

I had a RFE for living 50 miles away from client location.

COVID gave an exception for fulltime remote, but most should return to office pretty soon, else look elsewhere

Na jobs permanent remote man office open cheyaru 

[pakeer_saab]

22 minutes ago, argadorn said:

Na jobs permanent remote man office open cheyaru 

office leka pote you are safe, but office leka povadam inko vidham ga unsafe (they can hire where they have office and loyoff remote)

[ramudu]

[dasari4kntr]

Do Layoffs Pay Off? Meta, Amazon, Other Tech Stocks Paint a Mixed Picture.

Some technology companies have seen their stocks jump after announcing mass layoffs this earnings season. Others not so much.

Barron’s has taken a look at a sample of leading tech companies and the correlation between layoffs and stock moves.

Here’s what the data show.

Stocks did typically get a positive boost in the trading session immediately after layoff announcements—with an average gain of just over 5% from a sample of 12 prominent tech companies that said they plan to cut at least 500 jobs in recent months. But the cuts haven’t guaranteed lasting gains.

The largest cuts by number of workers weren’t necessarily the deepest. Amazon AMZN +0.28%  (ticker: AMZN) said it would reduce its workforce by more than 18,000 employees, around 6% of its corporate employees. Crypto exchange Coinbase COIN +0.89%  (COIN) announced the proportionately deepest reduction in the sample, planning to cut 20% of its workforce, or 950 jobs.

First-Day Performance After Layoff AnnouncementsHow selected tech stocks performed in the trading session after announcing layoffs.Source: Dow Jones Market Data

 

Some companies found bigger layoffs got a more positive reaction from shareholders. Coinbase was rewarded with a gain of nearly 13% immediately after its layoff announcement in early January. Online furniture retailer Wayfair W +4.68%  (W) soared more than 20% on the news it was cutting a 10th of its workforce later the same month.

On the other hand, deeper cuts didn’t guarantee a bigger rise. Twilio said earlier this month it would cut 17% of its workforce but shares rose just 2% on the day. That could be a sign that a certain amount of fatigue with layoffs mutes the reaction. Twilio’s announcement was its second round of major layoffs in a matter of months.

Some layoffs fail to spark any share rise at all. Microsoft MSFT +0.38%  (MSFT) shareholders met the company’s announcement of a 5% cut to its workforce in January with seeming indifference, as the stock ended down on the day. That reflected the feeling that the company was making a “tactical cost cut,” in the words of D.A. Davidson analyst Gil Luria, rather than looking to transform its business.

A more important question for investors might be whether layoffs lead to lasting gains.

Stock Moves Since Layoff AnnouncementsHow selected tech stocks have performed since their layoff announcementsSource: Dow Jones Market DataNote: Performance measured over trading days since last major layoff announcement through toFeb. 23

15

 

Facebook-owner Meta Platforms META –0.50%  (META) is the poster child for the case that the market will continue rewarding job cuts. Over the period since Mark Zuckerberg’s announcement of 11,000 layoffs, or 13% of its workforce, in November last year, Meta stock has risen by close to 80%. Zuckerberg’s assertion that 2023 will be a “year of efficiency” at the social-media company and hints at further layoffs have been greeted positively by the marker.

However, Wayfair shows how quickly the initial positivity can dissipate. The stock gave up almost all of its post-layoff gains after reporting a wider fourth-quarter loss than analysts had expected on Thursday. That suggests layoffs only go so far toward convincing shareholders that loss-making companies are changing their ways.

That’s particularly true with tech stocks still vulnerable to expectations over inflation and interest-rate expectations. The tech-heavy Nasdaq Composite Index is up just under 9% this year to Friday’s close but has given up a large part of its initial January rally, with investors concerned that continued high inflation will lead the Federal Reserve to keep raising interest rates.

Companies that have implemented layoffs could find themselves under pressure to do more. Google-parent Alphabet (GOOG) said in late January it would cut 12,000 jobs, or around 6% of its total workforce. leading to an initial stock rise. The stock is down since then, partly driven by Google’s new chatbot underwhelming investors. Activist investor Chris Hohn has urged Alphabet to widen its job cuts to at least 20% of the company.

[ismartganesh]

March 1 , 2023

Economic Update.....

J&J - 57 Positions in Lancaster County PA

Wahl Clippers - 40

Marshfield Clinic Health System WI - 346

G1 Therapeutics - 30% of staff, No #

Maryland Institute College of Art in Baltimore - More Layoffs expected

Alphabet’s robotaxi developer Waymo - 137

Thoughtworks - 500

BCH Inc. - 63

Bridgewater - 100

Seattle School District - Layoffs coming?

Qurate Retail Group - 400

Nike - Employees Report Layoffs, No # 

Everett schools - May cut up to 140 Jobs

Apexigen - 55% of Staff , No #

Update: Telus International - 266 in North Charleston

[ramudu]

17 minutes ago, ismartganesh said:

March 1 , 2023

Economic Update.....

J&J - 57 Positions in Lancaster County PA

Wahl Clippers - 40

Marshfield Clinic Health System WI - 346

G1 Therapeutics - 30% of staff, No #

Maryland Institute College of Art in Baltimore - More Layoffs expected

Alphabet’s robotaxi developer Waymo - 137

Thoughtworks - 500

BCH Inc. - 63

Bridgewater - 100

Seattle School District - Layoffs coming?

Qurate Retail Group - 400

Nike - Employees Report Layoffs, No # 

Everett schools - May cut up to 140 Jobs

Apexigen - 55% of Staff , No #

Update: Telus International - 266 in North Charleston

School district lu kuda layoff aaa , poragallaki evadu saduvu chepalee bro