The end of the year for some giants of financial services and high technology coincides with plans for mass layoffs during the next period, whether they are announced boldly or not. The main reasons for this development are the economic downturn, as well as the tightening of conditions at the level of monetary policy. For example, his American investment bank Goldman Sachs a new round is being processed job cuts, which will be made public in a few weeks, CEO David Salomon said in his usual pre-New Year’s Eve communication with staff, according to Bloomberg news agency. “We are doing a thorough analysis of the data, discussions are still ongoing, and we expect the reduction of our workforce to occur in the first half of January,” he said. “There are several factors affecting the business landscape, including tighter financing conditions that are slowing down economic activity. The priority for the bank’s management is to prepare for these adversities.” Goldman may try to cut up to 8% of its workforce, or 4,000 jobs, to stem the decline in profits, people familiar with the matter said. Executives have been asked to identify potential cost-cutting targets, and no final number of job cuts has been set, the same sources said on condition of anonymity. However, Goldman is on track for a record annual revenue of around $48 billion, the second-best result after a record-breaking 2021.

“The reduction in our staff will occur in the first two weeks of January,” said Goldman Sachs CEO David Salomon.

However, its employees Google in Switzerland sent a letter to the Vice President of Human Resources, expressing concern that the new employee appraisal system could be used to make redundancies. “The number of reports and their proliferation indicate that at least some managers were being particularly hard pressed to meet quotas,” which could lead to negative assessments of employees and possibly the loss of their jobs, five employee representatives wrote in the letter. The text came to the attention of the New York Times. From the upcoming small office closure and cancellation of a content coordination project to various budget relief efforts during 2023 planning meetings, the Silicon Valley giant is under increasing stress, according to interviews with 14 current and former employees. fearing sanctions, spoke anonymously.

In some cases, Google employees have resisted a program the company launched in July to streamline operations, cut red tape and boost productivity, the NYT reported. On other occasions, they discussed the budget, and in this context, some teams will not be able to recruit in 2023. Their fears have intensified as peer groups staged mass layoffs: in November, Meta, the owner of Facebook and Instagram, cut its ranks by 11,000 people (about 13% of its workforce), while Amazon also began laying off about 10,000 people on administrative or technical positions. , or about 3% of its employees.