Mass layoffs! Microsoft, Intuit, PwC, and other giants are firing thousands! But wait: Barclays is hiring in India! Investment Banking is on the rise!!

Hello Readers,

Did you hear?

PwC has laid off 100 employees!

Global Big 4 firm PwC is in the news once again. This time, the audit giant is laying off at least 100 employees in China. Massive corporate giants like PetroChina Co., China Life Insurance, and Bank of China Ltd. have dropped PwC as their auditor this year (allegedly) due to Chinese regulators’ scrutiny of PwC’s role in the multi-billion dollar accounting fraud by Evergrande. Reports suggest that due to diminishing revenue prospects in the country, the company was ‘optimizing its organizational structure to align with market demand’. But PwC is not the only company firing people!

Intuit is firing 1,800 employees!

Global business software giant Intuit has announced that it will be laying off 1,800 people. The company is firing 10% of its workforce as over 1,000 employees were being let go because they were not ‘meeting expectations’ in terms of work performance! Moreover, these layoffs are not being done to cut costs, but to let go of underperforming employees and redundant roles. The company is looking to streamline growth and reallocate resources to key growth areas, particularly Data and AI. That’s not the end of it!

Unilever could fire over 3,000 employees!

FMCG giant Unilever has announced that 1/3rd of all office roles in Europe by the end of 2025! These job cuts are part of Unilever’s productivity programme which the company announced in March this year. According to details disclosed in a company-wide call, as many as 3,200 people could be laid off as the company is looking to cut costs, streamline its operations, and improve shareholder wealth. This comes after years of underperformance and pressure from activist investor Nelson Peltz. Wait, there’s more!

Dyson is firing 1,000 employees!

Global FMEG giant Dyson has announced that it will be reducing its UK workforce by around 1,000 people, making it almost a third of its entire workforce in the country! With the latest profits declining, the company is reducing its headcount to cut costs, streamline its operations, and boost profitability in a very competitive market. According to a statement by CEO Hanno Kirner, the firm was reviewing its organizational structure to be prepared for future challenges, which has resulted in redundancies. That’s still not it!!

Microsoft is conducting layoffs! Again!!

Microsoft held its third round of layoffs in 2024 as soon as it began FY25. The first was in January when the company laid off almost 2,000 employees from its gaming divisions and the second was in June when it fired 1,000 employees from its Azure and HoloLens segments. The quantum of these cuts is unknown, but most have reportedly been in the product and program management divisions. 

A slowdown in global economic conditions is resulting in layoffs globally. However, did you know top companies are hiring in India!!?

It is not a lie. With an educated young demographic, lax labour laws, and favourable currency exchange rates, global companies are expanding their presence in India to take advantage of these factors.

One such big name is Barclays!

Barclays, one of the largest investment banks in the world is on a hiring spree in South Asia, focusing particularly on India and Singapore. With the economy set to see record growth in the next 10 years and the number of super-wealthy individuals, holding more than $30 million in assets, expected to grow 50% by 2028, Barclays is planning to expand in the region.

The firm aims to quadruple its private banking assets by 2028 and hire many employees, especially in its wealth management team (it plans to triple its wealth management teams in India and Singapore!) Additionally, UBS Group AG and Julius Baer Group Ltd. are also looking to make such expansions!

While Singapore is great, being an investment banker in India has a greater benefit: You make more money!

A recent report by Bloomberg Intelligence showed that finance professionals in India are set to make more money than those in Singapore and Hong Kong! Indian finance professionals’ salaries could rise by a whopping 10%, higher than the duo’s 4%, due to India’s booming economy, which is also a great contributor to deal-making, investment banking, and overall wealth-generation opportunities!!

Thus, with the global investment banking market set to grow at a CAGR of 10.8% in the next 9 years to around $214 billion, are you ready to jump into the exciting and rewarding field of Investment Banking?

Sign up on our exclusive job portal which over 50 lakh individuals trust. And the best part? It’s completely FREE!!

Jobaaj.com

You might find that one dream job on it. Who knows?

Are you not sure about getting placed? Lack the skills or experience for it??

Not surprising. India’s education system is not well equipped to teach students about the actual practical concepts used in the finance industry. Only top B-schools are capable of imparting such high-level knowledge, which is why MBAs from lower-tier colleges are often unemployed or slaving away at a menial sales or retail role.

Therefore, it is time to upskill in important skills and get ready for the industry. Learn important skills like Technical Analysis, Financial Modelling, and Equity Research to become the candidate that every HR wants.