We are all highly compensated. Do not let lifestyle creep affect you. I've been able to support a spouse that doesn't work and two kids off of my salary. At the same time, I've maxed out the 401k, IRAs and saved a full year of expenses. Do the same and these layoffs won't be painful. We all know another one is coming before we know it. Don't be a statistic.
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@bh. Totally agree that toxic behavior should not be rewarded. It is very possible to be held accountable to high standards, make decisions, and deliver results & value while treating others with dignity, respect, and kindness. Positive behaviors inspire most "normal" people to want to deliver more and reach higher.
@b4 I'm truly sorry to hear about your situation, and my thoughts are with you. For me, the turning point was when the CEO openly stated, “stop being nice.” That should have been a PR and cultural disaster, no matter how it was framed. In my experience at Chevron, "being nice" meant mentoring juniors, collaborating as a team, and going the extra mile to achieve collective success. It was never an excuse or a way to dodge accountability for KPIs—it was about fostering a supportive, high-performing culture.
@OP I appreciate your point. However, not everyone has “normal” circumstances.
I thank God that in my early career years I saved diligently. Unfortunately, with both parents living for years with dementia, one lasting decades, and needing 24/7 care, plus now a sibling also showing signs dementia, the past 10 years or so have been a disaster for my savings, as I’ve had to contribute towards their care.
This layoff could NOT come at a worse time. As MW, ELT, etc., make their decisions to decimate U.S. jobs, someone like me is very probably going to be a layoff statistic.
I don’t even know what to hope for anymore other than to be pulled out of this misery. This job and the manner in which this layoff has been conducted have aged me 10 years.
Good luck to everyone. I hope you get your desired outcomes.
Californians save less but have 7 figures home equity by age 40.
The rule of thumb is your net worth should be 10x your salary, at least once you have at least 10 years service.
This is not possible in California unless you are PSG 25 or above.