Just wondering what it looks like at AMEX currently. Are new hires effected as well? Have a friend with an offer who’s worried about joining. Thanks for any info! TC: 85k
Half the people that have Amex platinums (tech bros) just got layed off
no wonder, they no longer offering me retention bonus
That’s not true. You noticed how most platinum benefits are tailored for NYC, not SF?
No Amex makes money mainly from business exec who travel not your tech bros. With China reopening intl business class travel is booming..
Booming from influx of COVID sure lol
I heard from a SVP townhall , that business is seeing an uptick in delinquencies, lesser consumer spending and high cash borrowing rate from fed are all indicating brewing trouble and there will be some impact. I am hoping it should be less than 5pc. Let's hope for decent earning results on Jan 27th
No layoffs yet
My 2cts: No layoffs announced. Soft hiring freeze (hard to hire but they will), travel/expense is tight so I booked all my travel for this year on last years rapper budget. Looking at a top company rating. Amex's customer base is wealthier so we have a big moat. This year? Id say normal with contractor cuts. We had ~11% attrition in 2021 and didnt overhire.
How is attrition looking in tech for this year? I'm assuming that it will kick in once bonuses go out.
Yes usually March 1st but I think it'll be muted this year. People also retire after bonus.
No layoffs, but there is cost cutting on projects.
there is going to be some cost cutting at tech's end where mostly the contractors will be cancelled and also hiring freeze for some teams is announced. But there are no layoff discussion as per now
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BREAKING: Internal sources confirm another round of layoffs just hit emails at Tesla. For real.
Will be fine
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