Hiring freeze is real
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The freeze is real no doubt. It doesn’t mean that 0 people will be hired. We are still proceeding with the hiring of roles that have been budgeted for already. No new roles will be approved or opened until after the new year. Contractor conversions and terminations are happening at a higher rate. Cutting the slack and converting the good talent. 2023 will focus on maintaining headcount in lieu of growth, while decreasing costs, so you may see some replacements (someone who can do the same job for less). Work hard people - one of my VP’s openly says “people are always replaceable” ….. they are not wrong
No it is not.
I’m conducting three interviews next week alone, with more on the way.
Also tech is offering 10k referral bonuses for certain jobs.
The executive team in NYC believes that anyone that's been with the bank 5+ years is tainted with scandal and they want to get rid of them all. Every single one of them, preferably without severance, but if they have to pay, they will. These people are evil.
They did a layoff of two people from my group last month. Then yesterday they announced a $10k hiring referral bonus.
These were good people they let go. Smart, hard workers. Honestly they were better workers than I am.
I just don't get it.
it's very group dependent and really just a temporary hold with the possibility to loose the requisition. I had 3 positions I was interviewing on and was told to stop interviewing and hold. they are working through 2023 budgets and some reqs may get cut. although it will mean more work for the rest of my team I'd much rather lose reqs then have lay offs
I've noticed some articles in the HR center with a red banner at the top, something about pending job changes in Workday being auto cancelled in early November. This is likely due to annual reviews/calibrations and merit/TVC being determined.
Why even bother to post positions now then?
Probably technology spending freeze.
Was hired in less than a week within the last two weeks so I don’t buy it. I know others who went through their entire process within two weeks recently.
You don’t think the new referral program is to replace the severance, do you? Awfully weird promoting referral bonuses while hiring is slow rolled.
Only for internal losers.