Redundancies and Layoffs

Eclectic Dan

Lots of whispers and anecdotes of layoffs and redundancies happening around various industries, particularly tech.

Any real evidence out there of this happening in Ireland, or is it all just fear mongering and hearsay?

ongarite

No evidence of it at all in my industry; electrical, electronic maintenance, engineering.

Can't get staff, positions open for weeks and it's ultra competitive for similar positions in competing companies.

Pay and conditions improved to get people just to interview.

bmc58

Abbot are hiring for months.

Ginger83

2 family members on the shortlist for redundancy in PayPal.

helimachoptor

https://www.boards.ie/discussion/comment/119228520#Comment_119228520

Redundancies from Paypal arent usual, and in general they are under serious pressure from Stripe and others.

I'm trying to hire a few people for my company/team, impossible, across marketing,support, administration

eeloe

In Waterford there is talks of layoffs in Cartamundi/Hasbro.

I never heard of them being particularly well paid jobs, so anyone that does get laid off will possibly be able to get a better paid job with the volume of positions open around the county. Almost everywhere you look, all employers are hiring, and some are even struggling to get staff.

Eclectic Dan

Hearsay and fear mongering it is!

Ginger83

Kingspan announced a slump in orders. I'd expect layoffs shortly

mumo3

https://www.boards.ie/discussion/comment/119229593#Comment_119229593

And what sector are you in?

Pussyhands

I know all the major companies are looking at their costs right now. They're looking at cutting the low hanging fruit, the spending that's quite expensive for what it is. Fancy lunches being delivered freshly every day for example, quantity of gym classes being reduced, performer of the month bonus going, the monthly team bonding session scaled back, business travel discouraged.

This will probably happen slowly through the next 6-8 months. Then if things are still not back to normal like they were, and we're still looking at consumer sentiment down due to high inflation, lower demand for products, then the large companies will start looking at layoffs. And when one big company announces it, the rest will follow suit so as not to be left behind.

I feel we're at the stage of pre bust right now. Similar to how everyone was still in great jobs and prices were going up in property in Dublin around 2007 while commuter belts started seeing properties drop in price.

mumo3

https://www.boards.ie/discussion/comment/119229981#Comment_119229981

I always find the there's a hidden meaning, behind the magic phrase "restructuring"

helimachoptor

https://www.boards.ie/discussion/comment/119229944#Comment_119229944

Tech, Irish founded company.

mumo3

https://www.boards.ie/discussion/comment/119241104#Comment_119241104

I was just surprised with Admin, being in accounts admin myself there just seems to be loads of qualified admin staff... I would have presumed that would be an easy role to fill, but tech might be different.

herbalplants

https://www.boards.ie/discussion/2058251081/redundancies-and-layoffs

Looks like no fear mongering few months later