Top management always prefer to take out one or two big heads over lots of worker bees when it comes to layoffs. Once the first round of layoffs is done with, bosses expect a bounce from fearful workers and believe the prospect of losing their job will increase production.team leaders will pass on silly messages like everything is being watched ,so you better keep your head down.they will preach loyalty to keep you from looking elsewhere,the truth is you busting a gut matters peanuts,your just a number to be rubbed out anytime it suits.furthermore layoffs have no effect on the bottom line and are not included in quarterly returns.
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When I was at Waters I lived through at least 5 rounds of lay-offs. I've remained friends with lots of people still working there, with customers and also ex-employees.