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I can't find anything online. Layoffs during 2008? 2009? I would imagine layoffs would be similar to visa inc but same can't find anything in 2009. Know about 2016 rif and no layoff 2020 pledge. Generally how do credit card companies or payment processing companies do? I would imagine consumer spending goes down and then cuts follow? TC:170K #mastercard
Risky to join credit card companies at this time. People tend to lower spending during recessionary periods.
Right but I don't see layoff news about them like ever. Msft on the other hand 😂
It's not that simple @RB .. people lower spending but not the transactions.. :) they won't buy more stuff off Amazon but still swipe the cards for groceries.. so payment industries would be one of the last to take hit when there is recession
OP the 08 recession was different where financial companies go hit real hard.. 2022/23 looks more like the 2000 dotcom one.
With high inflation and these companies making money based on percentage I wonder if thst actually helps...
I haven't heard anything like that during previous recessions , this one might be different we never know. And it's totally a company to company thing ... each business model is very different than other.. so it is not that simple to say that there will be layoffs if there is a recession
I expect all companies to cut a little. Its just how deep I guess. Mastercard has army of consultants too. Visa reduced contractors but still plenty.
Normally that would be the strategy.. they first cut down contractors and then consultants and then support functions followed by engineers
This recession is for tech. Mastercard will still come out okay.
MC and VIsa are money making machines. Their net profit margin is around 50%. Imagine 50% of revenue is pure profit that goes in share buybacks and dividends. That’s just amazing!
Square tried to undercut the payment processing fees of Visa and MasterCard and have their own point of sale processing units. However, they are slowly growing into the market controlled by the likes of Verifone. I used to own all three stocks and I'm kicking myself for selling Square when I bought it at $20 (I only doubled my money).
Following this. Won't economic slowdown impact discretionary spending? I just did some research and covid lockdown visa lost like 25 percent profit..
That being said I hardly ever see layoff news
MasterCard makes money in good and bad economy. People spend money when they have it. People spend money (essentials) when they don’t have it (credit cards) MasterCard makes money through transactions. Win-win both ways.
didn’t heard any news on layoff internally, stop spreading fakes until there’s real news
I am not spreading rumors. I am asking a question since I can't find anything on then
@MasterCard did you even read the post?