In my location, all the surviving mgrs, HR, accounting people, and technical people all seem to be connected through their church. Coincidence????
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Market conditions is the safe phrase that HR and managers are told to use. Some really good people are being let go, but let's face it.. it's also a safe way to dump dead wood. It's an easy excuse for a manager to use rather than "Your performance is meh, but I'm not adult enough to address you on it, write you up, rate you correctly on your performance review. So this is my get out of jail free card for being an ineffective manager. Best of luck to you!". There is literally a script that they use and are told what to say.
Verbally told market conditions. The official reason cited by SLB to the state government on the unemployment information was the pandemic.