4 ms·

Interesting that in beginning of January a lot of the job cuts are being announced, I'm sure decisions were made previous months. Is it because of the time to r

by ddano 3y ago

Interesting that in beginning of January a lot of the job cuts are being announced, I'm sure decisions were made previous months. Is it because of the time to recover for potential backslash in the quartarely reports or any other reason?

lefstathiou 3y ago
Holidays cam play a role. Despite how much I say it shouldnt impact my decision making, it's tough to let someone go ahead of Thanksgiving and Christmas.
ceejayoz 3y ago
No one likes being the Grinch in December.
- ddano 3y ago
  True that, I was totally having just the capitalist markets in mind when that thought went in my head. :D tnx for clarificaiton
asdajksah2123 3y ago
Companies usually avoid laying off people before the holidays. My company did that once and despite not being a company that's ever really in the news, made the news for that reason.
- ddano 3y ago
  Oh snap, that logic escaped me.
- wolverine876 3y ago
  Many companies do cut people before the end of they fiscal year, to avoid tax consequences and budgeting issues in the new year.
  - notatoad 3y ago
    It looks like this announcement was timed for the end of citi's Q4 today.
- emptysongglass 3y ago
  Except for Hasbro, apparently.
- robohoe 3y ago
  One of my past employers made a 10% cut right after Thanksgiving and before Christmas holidays. Ouch.
- DrBazza 3y ago
  Actually their favourite time to cull the workers is last quarter and ensure that you’re out before bonuses are announced and paid in January. That’s always November and December. That they’re doing this now is unusual for them.
octobus2021 3y ago
Citibank told their employees to work from home in December and common understanding was that it would make the upcoming layoffs easier (quick Zoom with HR and mailing the hardware back to the office is all it takes). In addition their Q4 results came in REALLY bad ($1.8b loss) so they're using it to justify the cuts to appease the investors.

by ddano 3y ago

lefstathiou 3y ago

Holidays cam play a role. Despite how much I say it shouldnt impact my decision making, it's tough to let someone go ahead of Thanksgiving and Christmas.

ceejayoz 3y ago

No one likes being the Grinch in December.

ddano 3y ago
True that, I was totally having just the capitalist markets in mind when that thought went in my head. :D tnx for clarificaiton

asdajksah2123 3y ago

Companies usually avoid laying off people before the holidays. My company did that once and despite not being a company that's ever really in the news, made the news for that reason.

ddano 3y ago
Oh snap, that logic escaped me.
wolverine876 3y ago
Many companies do cut people before the end of they fiscal year, to avoid tax consequences and budgeting issues in the new year.
- notatoad 3y ago
  It looks like this announcement was timed for the end of citi's Q4 today.
emptysongglass 3y ago
Except for Hasbro, apparently.
robohoe 3y ago
One of my past employers made a 10% cut right after Thanksgiving and before Christmas holidays. Ouch.
DrBazza 3y ago
Actually their favourite time to cull the workers is last quarter and ensure that you’re out before bonuses are announced and paid in January. That’s always November and December. That they’re doing this now is unusual for them.

octobus2021 3y ago

Citibank told their employees to work from home in December and common understanding was that it would make the upcoming layoffs easier (quick Zoom with HR and mailing the hardware back to the office is all it takes). In addition their Q4 results came in REALLY bad ($1.8b loss) so they're using it to justify the cuts to appease the investors.