Why do companies lay off right before Christmas!

[eliza61]

Citigroup just announce it is laying off 50,000 people. It just seems so cruel to do it right around the holidays. I guess there's really no good time to lose your job. but it seems so cruel to do it at Christmas.

 

[Mom2Nick]

Business does not stop just because it's Christmas and many companies run their fiscal year the same as the calendar year. That means many companies are in the home stretch and know what their fiscal numbers are going to look like. If there's huge losses - they need to cust costs and overhead.

 

[The Mystery Machine]

Right it is based on the fiscal year calendar. Cruel or not it is business. It does stink though.

 

[Carly_Roach]

How would you feel if you spent what you normally would for Christmas and then found out in January that they were planning on laying you off but didn't want to ruin your holiday?

It's better this way. Really.

 

[manning]

How would you feel if you spent what you normally would for Christmas and then found out in January that they were planning on laying you off but didn't want to ruin your holiday?

It's better this way. Really.

Two edge sword. You don't know you will be laid off and shell lot's of money for gifts. I would rather know before spending. Xmas isn't like it used to be, when a lot of money was spent for gifts. I got a few gifts and was happy and my parents didn't go into debt.

 

[eliza61]

How would you feel if you spent what you normally would for Christmas and then found out in January that they were planning on laying you off but didn't want to ruin your holiday?

It's better this way. Really.

It's funny, I wasn't even considering the money aspect but I guess you have a point there. I've been trying to stay on some what of a budget during this holiday . I was thinking more emotional/mental aspect. How utterly depressed some of these workers will be this holiday. I think I've been watching too much of "It's a wonderful life"

 

[scrappy910]

My dh works for Citi. It just so happens he has his weekly conference call with his boss this afternoon. We're keeping our fingers crossed that he will not be on the cut list. DH is scheduled for a kidney transplant on 12/9 so this would really be a bad time (like there is a good time?) if his job is one to be cut.

Carol

 

[NY Disney fan]

My boss, who I adore, is getting laid off this afternoon.

 

[mumom95]

My dh works for Citi. It just so happens he has his weekly conference call with his boss this afternoon. We're keeping our fingers crossed that he will not be on the cut list. DH is scheduled for a kidney transplant on 12/9 so this would really be a bad time (like there is a good time?) if his job is one to be cut.

Carol

I'll keep you and your dh in my thoughts today, hope it will be good news