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Comment by ddano | Hacker News Reader

Interesting that in beginning of January a lot of the job cuts are being announced, I'm sure decisions were made previous months. Is it because of the time to recover for potential backslash in the quartarely reports or any other reason?

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Companies usually avoid laying off people before the holidays.

My company did that once and despite not being a company that's ever really in the news, made the news for that reason.

Oh snap, that logic escaped me.

Many companies do cut people before the end of they fiscal year, to avoid tax consequences and budgeting issues in the new year.

It looks like this announcement was timed for the end of citi's Q4 today.

Except for Hasbro, apparently.

One of my past employers made a 10% cut right after Thanksgiving and before Christmas holidays. Ouch.

Actually their favourite time to cull the workers is last quarter and ensure that you’re out before bonuses are announced and paid in January. That’s always November and December. That they’re doing this now is unusual for them.

No one likes being the Grinch in December.

True that, I was totally having just the capitalist markets in mind when that thought went in my head. :D tnx for clarificaiton

Holidays cam play a role. Despite how much I say it shouldnt impact my decision making, it's tough to let someone go ahead of Thanksgiving and Christmas.

Citibank told their employees to work from home in December and common understanding was that it would make the upcoming layoffs easier (quick Zoom with HR and mailing the hardware back to the office is all it takes).

In addition their Q4 results came in REALLY bad ($1.8b loss) so they're using it to justify the cuts to appease the investors.

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