I know for the rest of the year there will be no layoffs - or so we’ve been told. But over the last few months I’ve seen too many financial institutions doing “cost reductions,” which usually amount to RIFs, to take anything for granted. Over the last 7 months I’ve been preparing myself incase layoffs happen at the beginning of the year. I may be jumping the gun, but as the saying goes….I’d rather be safe.
1 reply
I think it’s definitely prudent to have options.
Lots of politics at play at MS. They will want-to / need-to cut headcount as earnings are lower but don’t want to appear to be cutting jobs during a pandemic due to negative publicity. They haven’t ruled out performance related cuts this year as well, which is subjective to interpretation.
Specially if you have had low bonuses last year or so, feel some negative vibes with your manager etc. best to have some other paths open. At the very least, It can only increase your job security even though eventually you don’t end up using those outside options.