Hacker News Reader

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.

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.

Oh snap, that logic escaped me.

Except for Hasbro, apparently.