How is Mastercard during recession? How is pip culture? Can't find mass layoff about them? #mastercard TC:160K
Visa and Mastercard don’t have a history of mass layoffs. I would say they will be safe during recession because higher debt driven by greater use of credit cards.
They lay off the contingent workers first. I don’t know of a single full time employee who was let go during the pandemic lockdown. People weren’t traveling but they still were buying toilet paper and wipes.
There was a rumor visa had a layoff in 09 but the company was tiny at the time
They don't have a history of mass cuts because they were tiny back in the day. Both companies have stealth rifs that donr make the news. At the end of the day both are small compared to big tech
Mastercard promised early in the pandemic (March or April) that no one would be laid off because of COVID. Lots of people coasting
I believe credit card companies like MasterCard and Visa will be fine during these times. Higher debt driven by greater usage of credit cards. They have many contractors/consultants from WITCH companies, so they will let go them first before anything else. I also heard attrition rate for dev is quite high because of incompetent TC at MasterCard or Visa.
Layoffs during last recession but idk how deep https://seekingalpha.com/article/118824-mastercard-incorporated-q4-2008-earnings-call-transcript
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They’re stable. Read their earnings.
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