They reflect the red hot inflation and job market in US because of which Fed is unable to pause it’s rate hike cycle
Situation turning nasty now. Many layoffs and so many big tech companies on a hiring freeze mode. Tough for those seeking new jobs
What about our own TCS,INFY WIPRO , hiring or firing ?
1 Like
Hiring freeze are usual norm for these companies from Nov to mid Jan every year( nothing new). In this period as its year end, yearly budget exercise happens so hiring freeze.
What I am reading is due to monetary tightening, free credits these new age loss making startups were getting is getting dried now .So , companies having lot of pressure to become profitable and get out with IPO, so thats why there is firing in these .
Recent quarterly results of IT companies doesn’t show any much concerns of slowdown or firing . Even there forward guidance have not been put down infact it was above streets expectations so nothing concerning now .
That’ will give more room to Fed to hike rates. They wont stop until they break the backbone of American economy and eventually these Tech cos will face the heat.
I heard somewhere that FED wants the market to come down, maybe 2020 low
Probably Fed officials missed March 2020 rally and now want to bring market back to that level to buy
By far the biggest sacking by a FAANG company, 13% workforce fired.
Just shows how fundamentals and stocks price movement (it fell 71% this year) eventually makes sense.
1 Like
I think its typical US way of working, they dont seems to think about the after effects of their action. During COVID they printed money without thinking that it will lead to high inflation in future. So did every firm started hiring mindlesly giving exorbitant hikes, now when the inflation is kicking in, they are firing. 1 year later, they will again start hiring mindlesly. They dont understand the term FRUGALITY & SAVINGs.
4 Likes
True, its mainly due to low interest rate QE almost zero for 2 decades , this decade i think they will have interest rates close to 3-4% that will make people to change behaviour even companies to plan better.
1 Like
Yep. American style of living as if there’s no tomorrow. But, things may get tougher for US and uncle Sam going forward.
How long will world suffer one nation’s reckless actions
When the interest rate is high, consumers are less likely to make purchases, and businesses are often forced to reduce staff as a result. Primarily, they look at expensive resources to determine whether there is a cheaper alternative.
18k is a big number. The great inflation beast is unleashing at full force
You don’t make companies like Facebook and Amazon by being conservative.
1 Like
One side, many Indians are leaving the country
On the other side, this is happening.
1 Like
1.Make freshers wait
- Give a revised offer cutting salary from 6 odd lakhs to 3.5 lakhs per annum.
This is the same company which raised the issue of moonlighting.
Wipro is a sarkari company in IT sector
2 Likes
Saw news of Facebook considering further layoffs. I guess they were massively unproductive