Can we expect any?
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I would not expect any layoffs before 2021, but I’m sure COVID is being used as an excuse to screw most of the rank and file from any kind of bonus for the year. Come 2021, expect layoffs especially with the E-Trade merger on the horizon. It’ll be a boon time for Tata as you can expect a massive influx of consultants to do the work. My advice to anyone who has been there more than 5 years and is in the retail side of technology is to head for the hills. There will be massive bloodbath once the merger is completed.
Gorman mentioned no layoffs for this year. January maybe.
Support areas such as compliance and audit could be impacted . With Etrade being assimilated and Waton now on the way, you do not need people in multiple locations doing the same things. Operations will be heavily impacted .
Based on the imagine plans, 4500 seats equivalent of 1500 HCs would be let go from Metro. These plans were made precovid, so no idea how they got tuned. But as someone else put it, they might have already calculated that into the equation too.
I haven't heard anything, just wanted to check.