I heard from other new hires that we are expecting a big big layoff, which is so scary.
Will the new hires take a hit? I have been with Wells for less than 4 months and I am residing in the quant team. Will the quant team take a big hit?
Any information will be appreciated.
I get laid here at least once a year, around review time.... laid/screwed, same thing.
New hires will most likely NOT be let go. New hires are meant to level up talent. It’s the gravy-trainers who coast for years without adding value that should be worried.
The people from companies such as cognizant are on projects . They come here on a project and go home after it is done. Not like the jokers who are employees who do not work or leave . So layoffs are unfortunately going to be needed but many of us will suffer collateral damage
I don’t know the number of people the bank is directly sponsoring on H1Bs, but it is not zero. A significant number of people working a WF on a H1B are actually doing this through companies such as Cognizant. These master agreements not only get around limits on the amount of time contractors can stay, but also get WF away from the paperwork headache.
All engineers would make more money and there would be far less layoffs if H1B visas were ended.