5 ms·
The typical headline making layoff % at a Fortune500 type company is ~10%, fwiw.
by hkmurakami 9y ago
The typical headline making layoff % at a Fortune500 type company is ~10%, fwiw.
- nostrademons 9y agoSome of them just routinely fire the bottom 10% every year.
- KGIII 9y agoPopularized by Jack Welch, called Rank-and-Yank. He has a couple of books but I'll not be making the effort to link them.
- hkmurakami 9y agoAlso "Up or Out" at the professional service firms, though I believe the percentage for this is around 3-5%.
- Avshalom 9y agoThat feels like a good reason to fire 100% of whoever is in charge of interviewing/hiring.
- ci5er 9y agoI'm not a fan of firing the bottom 10% of annual 360 reviews, but, do you think that having a 10% false-positive rate on interviewing/hiring is outside the realm of possibility? EDIT: Just so you know ... the cumulative quarter average (done annually) cull of the bottom 10% (people who have been put on improvement plans 3 quarters ago), is done by people that have nothing to do with interviewing/hiring. You'd probably be firing the wrong folks.
- Avshalom 9y agoOutside the realm of possibility? No. But if 10% of my work (I'm a warehouse worker) had to be thrown out I'd have been fired within a month.
- Avshalom 9y agoActually not fired because then Target might actually have to pay out on unemployment, I would simply have been scheduled for 4 hours a week in perpetuity.
- nostrademons 9y agoYour work is a lot more predictable than that of either the folks doing the hiring or the folks being hired. Well over 99% of my work has been thrown out. (I'm a software engineer & entrepreneur.) I think I calculated that when I was at Google, the half-life of my code was roughly 1 year, i.e. after a year, half of my code would be ripped out and deleted. So after 5 years there, 97% of it was gone. The remaining 3% had made a few hundred million dollars in revenue. It's been similar (but worse) in the startup world, where I had 4 ideas that all failed in my startup before Google, and 10 so far in the startup after.
- alexasmyths 9y agoIt's definitely not a layoff, and FYI 10% is also very high for a F500 layoff. This is a 'company on the up' dropping people, which is quite a different thing from a 'company who can't afford to keep people and letting them go;