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Last in – first out or fire the weakest – layoffs continue
As the perception of a slowdown continues the perceived over-employment picture might indicate a need for layoffs. It sounds like market agitators in the oil industry where fear of a hurricane that might agitate Nigerian rebels who could… – you get the picture. Anyway, it is close enough for some. More layoffs were announced as Goldman Sachs Group Inc and Credit Suisse Group on Friday said they will cut about 2,000 job worldwide as a credit crisis puts a damper on fixed-income trading and corporate dealmaking.
Credit Suisse said it will cut about 500 jobs, mostly in its investment banking operations. Goldman Sachs is said to have layoffs every year anyway. Is this a last hired – first fired scenario, or are the weakest performers the first to go? Time will tell.
[...] unknown wrote an interesting post today onHere’s a quick excerptAs the perception of a slowdown continues the perceived over-employment picture might indicate a need for layoffs. It sounds like market agitators in the oil industry where fear of a hurricane that… — for brevity this is a summary … [...]