Thread regarding Manulife Financial Corp. layoffs

Did there really have to be so many layoffs?

I understand the bitter truth that a company must lay people off if its business is in any way jeopardized. And yet, was there enough reason for Manulife to fire 160 people at the worst of times? Is this company so financially vulnerable that it had to happen? I don’t think so.

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Post ID: @OP+1aa7iB1o

9 replies (most recent on top)

Seeing all the exits on linked in. Bleeding like an open wound.

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Post ID: @1ctam+1aa7iB1o

Large groups being let go every few weeks

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Post ID: @17qsg+1aa7iB1o

How many people and what groups were impacted in Canada? CIO Shamus says to expect another 10% more layoffs to come. Any executive attrition?

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Post ID: @dybp+1aa7iB1o

What's it like now, better or worse? I'm betting it's back to business as usual. Good luck and get that share price higher, would ya? Work harder people!

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Post ID: @dvgj+1aa7iB1o

They hired hundreds to do my job in Canada because they don't have to deal with healthcare there. They decimated our lives during a pandemic even though we do a great job and they're making plenty of money. Nice.

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Post ID: @blol+1aa7iB1o

Many bad strategic decisions along with cost fit likely the explanation for the John Hancock layoffs

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Post ID: @5alx+1aa7iB1o

They did not move IT delivery work offshore, they only downsized. Anyone can see this is because of shrinking demand Because sales are going to be lower in the US.They're not selling much and are clearly consolidating to conserve and squeeze remaining workers. Is that the strategy? Lower sales and shrink? This is survival

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Post ID: @4xcg+1aa7iB1o

It was part of aligning the business to the global model. The business is doing well as per Q4 2020 results.

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Post ID: @2wfa+1aa7iB1o

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