Jeffrey Gundlach, the CEO of $135 billion DoubleLine Capital: “A ‘wave’ of layoffs is coming for $100,000/year white-collar jobs”

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Gundlach, who runs the Los Angeles-based bond investment firm, explained that one of the outcomes of remote work is it reveals who produces and who doesn’t.

“What people may have learned for white-collar services jobs, in particular, during the work-from-home lockdown situation, at least in my perspective — I’ve talked to a lot of my peers on this — I kind of learned who was really doing the work and who was not really doing as much work as it looked like on paper that they might have been doing,” Gundlach said.

He’s witnessed this at DoubleLine, where people running “certain groups” haven’t been as responsive, while the more junior members on their team have stepped up.

Could really be a major second wave if this is the case.

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