Dealt with 4 different team managers this week (1 in tech, 2 in risk/compliance, and 1 in CIB) and every one of them said they are hiring right now
Not seeing or hearing of any layoffs but seeing lots of hiring
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do lateral moves count as new hires?
do lateral moves get counted as job loss?
how are job reqs that are pulled or never filled counted?
how are jobs outsourced overseas counted? It's not a loss or gain ... it is a changing of ... flesh?
The hiring practices are out of control. I applied for a position with a very specific skill set. They made me wait months and then posted job again. No communication, just re-post . It is insulting. Just be transparent. I’m starting to wonder if these positions getting reposted over and over get filled at all. There is no leadership anywhere anymore. What happened to this company that I loved so much
Bei admitted Wells lost a lot of employees due to attrition from March through June. The mass exodus as slowed. They have been hiring, but still have over 21K to fill. Now they just have to worry about the "quiet quitting" of those who no longer want to burn themselves out.
Our team has three postings that are five months old and still sitting out there. We were told we couldn’t fill them, but the posting still remains.
Just because there are job postings doesn’t mean there will be any hiring. As previous post noted, it’s to project strength. You don’t have to look far on this board for stories of people who posted, interviewed, sat in purgatory for weeks, or even months, only to have the req cancelled.
Buybacks are not the only thing stoking investor confidence.
Exactly, do we have new office opening?
So how do we have this many jobs "open" without every expanding office space?
Easy, fire the experienced and hire new. This allows us to add as many young H1-B, OPTs as we can. And every corporation is doing it this way.
(1) Companies get cheaper workers who just want H1-B sponsorship with less monetary compensation.
(2) It looks great to see 1000s of jobs openings for institutional investors. Investors check job openings to see if strong growth ahead. The system is kind of setup to sc--w the older American workers, and favor younger H1-B workers.
41k hired so far this year. 26k reqs open.
This is the craziness of wells . The businesses are not growing organically . As it is there is an asset cap. So, the only real game left is to get more juice from within, ie, an efficiency play.
You all know how you can achieve that - by reducing manpower in aggregate or by making faster and cheaper . You cannot, unfortunately; so that by hiring in the US in large numbers
Do they want to hire? Yes.
Are they ALLOWED to hire? That’s a different story. They usually are only allowed to hire offshore.
I wouldn’t root for layoffs. The next one to get laid off might be you.