All groups are hiring on a daily basis. I don't understand why they don't hire internally? At some point, they will hire more than they laet go so this story about controlling expenses is total BS. It would be better if the execs said, we want to shrink certain depts and grow others and during that pivotal transistion let go old employees and bring in fresh talent.
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They pretty much said exactly that! Didn't you hear him say "redeploy assets from high cost centers to lower cost centers"?
That's exec speak for layoff in US and hiring in other countries.