I'll never understand why this place is always hiring and then turning around and laying off a bunch of people. From now on, if I see a company is hiring like crazy, I'm going to stay as far away from it as I can. Joining like that is as good as signing up to be laid off in the future.
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Staffing an organization is complicated. Sometimes things don’t go as expected and you need to downsize.
It's a cycle to keep the average age and salary down. If a company allowed their initial hires to remain they would end up with a huge group retiring and paid more than the market demands at some singular future point.
There's also attrition and preventing competition from getting good hires. Best to go over and then prune.
to the OP that said "layoffs happen to the people that don't meet minimum requirements". You're really d-mb if you think this is true. Use your critical thinking skills before you speak, you know nothing.
Why do u care so much? Get hired, get laid off, get compo and move on.
Layoffs happen at fidelity when the market goes down and the forecasted budget then becomes a problem. Or if a particular BU is told they need to cut heads - oftentimes a group that has top performers get hit and good people are let go - like a tornado - one side of the street left standing the other decimated
Layoffs happen because people do not meet the minimum job requirements once they are hired, so they are let go.
It’s out with the old costs more) and in with the new (cheaper labor).