I think we'll be in a recession within a few months.
Do you think we'll have job cuts if a recession hits?
5 replies (most recent on top)
Layoffs are coming in September. Brace for impact.
Major layoffs are planned. Probably at least 1000 over several months. The profitability report was bad. Les Schwab will have no choice but to do major cuts. People are not buying tires, rotating less nodes during a recessionary periods. Tire rotations. Binary search tree node rotations. Same thing. We’re all Schwab.
Walt said earlier (well before inflation hit and there was a market downturn), that schwab generally makes more money in an environment where the market is down ( people park more money in cash), and there's inflation (higher return on the cash because of elevated interest rates). He did say they never want these conditions because they're not good for clients.
But hopefully the company actually comes out ahead in these conditions and extra layoffs aren't needed. And hopefully the stock price also fairs better than the broader market in the turmoil.
I’m definitely not thinking recession, gas prices aren’t the economy. Read Liz Ann Sonders.
As far as job cuts, yes. But we’re still a bloated company with too many people
There are always layoffs in a true recession. The job market as a whole also shrinks. Best be prepared.