The recent tech layoffs have shown that employees are disposable in the eyes of executives. This isn’t surprising though, and I’m definitely not the first person that has written about this. I just want to highlight the current situation.
Source: TrueUp: Tech Layoff Tracker
It doesn’t matter if investor expectations are surpassed, layoffs can still take place.
Source: CNBC: Shopify cuts 20% of its workforce; shares surge on earnings beat
It’s somewhat understandable if a company is struggling financially and resorts to layoffs. However, there’s plenty of companies that are profitable and still lay off the people that earned the company those profits.
Source: Polygon: Microsoft mass layoffs reportedly impact Bethesda, Halo Infinite teams
Many companies are not only profitable, but their executives continue to earn huge sums of money amidst layoffs.
Source: Ars Technica: Googlers angry about CEO’s $226M pay after cuts in perks and 12,000 layoffs
Aside from layoffs, employees may have their pay frozen even though company revenues are up. That’s what happened at Microsoft. Let’s not forget that Microsoft is a $2.5 trillion dollar company (at the time of this writing).
Source: Microsoft workers protest ’landmark year’ CEO memo following pay freeze
It doesn’t matter how much value you’ve delivered. It doesn’t matter how much impact you’ve had in a company. It doesn’t matter how long you’ve been at a company. You are still disposable.
Source: Jeremy Joslin (@jcj) on Twitter
I recently came across a blog post that is very relevant when understanding that the executives that earn 100x your pay can also lay you off at any moment: Maybe you should store passwords in plaintext.
It’s okay to like your job and employer. Just understand that, as an employee, you are disposable.
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