https://www.vox.com/technology/2023/3/16/23642978/facebook-meta-layoffs-bad
“….Additionally, research shows that layoffs don’t actually save companies much money. Savings on salaries are mediated by severance expenses, not to mention the lost productivity and knowledge those workers take with them.”
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@cje we can dream.
@cof said, "clear out higher-paid, older employees"
Like a 57-year-old who costs the bank $24+ million per year?
Unfortunately, layoffs are a necessary evil.
They usually do layoffs in US then offshore to India/Philippines.
The rest of onshore jobs will be taken over by h1b visa workers if they can secure government approval.
@cxo+1lIaeWRP no point in passing up a chance to clear out higher-paid, older employees and replace them with younger, cheaper people when the need arises.
@wvh No point in losing a performing employee just because there's a bit less work for them to do. The replacement you hire when things pick up again won't always be an upgrade.
No point in having people on staff to handle business that doesn’t exist.
How many and in what specific areas on 3/21?
Smart businesses hire when other businesses are cutting. It's an investment opportunity.
America rewards short-term thinking, though.
Those that are harassed into quiting, or that are dead, collect no severance.