I heard last night from a source that a major employer in town is going to let the hammer drop soon. My source says maybe this coming week. And this isn’t just a handful of people, I was told hundreds.
That is all I am privy to say at this point, because I don’t have ALL the details. But this person said it will probably be worse than the Capital One layoffs. I have a feeling they will try to hide this from the media, but I think it’s going to be difficult.
At this point it is a rumor. Let’s hope I am wrong.
I won’t publish any comments that have the speculation of the business.
I will only say this, it is a very large employer in SF.
There is one large nationwide employer with a pretty big footprint in town that is looking to cut billions of dollars in expenses this year. It’s hard to reduce that much in expenses without trimming people and technology.
I just hope it is just rumors.
Banking and credit cards are under pressure from digital currency. There’s more call center export employment and new automated response. I’m assuming the layoffs are financial business related.