A striking example in the recent mass redundancies is McKinsey, the consultancy famous for advising other businesses on how to bring down costs. The company is cutting up to 2,000 of its 45,000 people, hitting divisions that do not serve clients directly, such as human resources, technology and communications.
Goldman, which is cutting 3,200 jobs, 6.5 per cent of its headcount, moved more slowly. Team leaders were instructed in early December to draw up lists of employees who could be let go. News of the planned cull leaked, kicking off weeks of uncertainty about who was on the way out. Early talk of cuts in the region of 10,000 jobs prompted an admission in January that nearly twice that number would need to go. In a note to staff, chief executive Andy Jassy said “these changes will help us pursue our long-term opportunities with a stronger cost structure”.
Job losses announced by Ford last month were specifically driven by larger business decisions at the US carmaker: a shift to electric cars and a thinner vehicle line-up. Staff will leave over the next two years, on a “voluntary” basis, while Ford also has a “proactive programme to retrain people”, he added.
These are small numbers, though unpleasant for the people losing their jobs. The companies are just getting rid of the trouble makers and wasters.
It's 'Whom to fire'. Strewth.
Goldman Sachs need to be fluffy ?