Ask HN: Who is firing?

#1

Post by startupdude » Thu, Dec 02, 2010, 4:07 AM UTC

Though there are lot of companies hiring compared to year before, there are bunch of companies firing as well.

Re: Ask HN: Who is firing?

#2

Post by phrotoma » Thu, Dec 02, 2010, 4:25 AM UTC

I work for Canada's largest bank and they're turfing contractors at a pretty rapid rate. Shoveling lots of work offshore.

Edit: FTE's seem safe for the moment.

Re: Ask HN: Who is firing?

#3

Post by tamersalama » Thu, Dec 02, 2010, 4:30 AM UTC

phrotoma wrote: post #2

I work for Canada's largest bank and they're turfing contractors at a pretty rapid rate. Shoveling lots of work offshore. Edit: FTE's seem safe for the moment.

This is the exact same plan for 3 major Canadian oil-n-gas I know. Details are unfolding, but many will be affected. Basically, individual contractors are to be replaced by fewer BigName companies with work done overseas.

Edit: details

Re: Ask HN: Who is firing?

#4

Post by dangrossman » Thu, Dec 02, 2010, 4:38 AM UTC

My mother worked for a subsidiary of a certain $87 billion a year health insurer. They are closing the office she worked at this month and firing [edit: "laying off"] all the employees.

Re: Ask HN: Who is firing?

#5

Post by dasil003 » Thu, Dec 02, 2010, 4:50 AM UTC

tamersalama wrote: post #3

phrotoma wrote: post #2

I work for Canada's largest bank and they're turfing contractors at a pretty rapid rate. Shoveling lots of work offshore. Edit: FTE's seem safe for the moment.

This is the exact same plan for 3 major Canadian oil-n-gas I know. Details are unfolding, but many will be affected. Basically, individual contractors are to be replaced by fewer BigName companies with work done overseas. Edit: details

I look forward to hearing how that turned out for them.

Re: Ask HN: Who is firing?

#6

Post by rradu » Thu, Dec 02, 2010, 4:52 AM UTC

Yahoo. Right before the holidays, too. Guess they want to avoid paying bonuses to soon-to-be goners.

http://kara.allthingsd.com/20101130/yahoo-layoffs-coming-dec...

Re: Ask HN: Who is firing?

#7

Post by davidu » Thu, Dec 02, 2010, 4:55 AM UTC

Maybe you mean layoffs...

Every company should be ready to do a firing if it's required that the employee and the company part ways.

Re: Ask HN: Who is firing?

#8

Post by waterside81 » Thu, Dec 02, 2010, 4:56 AM UTC

phrotoma wrote: post #2

I work for Canada's largest bank and they're turfing contractors at a pretty rapid rate. Shoveling lots of work offshore. Edit: FTE's seem safe for the moment.

Presumably this is RBC? Do you think it has to do with meeting some sort of quarterly budget targets?

Re: Ask HN: Who is firing?

#9

Post by jrockway » Thu, Dec 02, 2010, 5:08 AM UTC

phrotoma wrote: post #2

I work for Canada's largest bank and they're turfing contractors at a pretty rapid rate. Shoveling lots of work offshore. Edit: FTE's seem safe for the moment.

Isn't this exactly what contractors are for?

Re: Ask HN: Who is firing?

#10

Post by MrFoof » Thu, Dec 02, 2010, 5:10 AM UTC

dangrossman wrote: post #4

My mother worked for a subsidiary of a certain $87 billion a year health insurer. They are closing the office she worked at this month and firing [edit: "laying off"] all the employees.

Assuming who I think it is, your mom isn't the only one. A lot of their subsidiaries are being sold off. I'm assuming less attractive ones are being shut down if they can't find buyers. I'm consulting for a firm that has bought one of their subsidiaries as a new business unit.

Much of it has to be done before the end of the year, per the US government. Haven't dug into why that is the case just yet, but I'm aware of much going on with said health insurer.