Layoff Sadness Intensifies

"If you have to conduct layoffs, which is always a regrettable thing, there's kind of three things that are very important. One is to communicate well with your employees in order to help them understand why it is you're doing, and how. Second is to make sure that the employees who are part of the go forward, understand kind of what happened and are not like the ground doesn't keep moving. It's like, okay, we did that, we're moving forward, here we go. And then for the employees that you unfortunately have to let go, try to provide as much support for them as possible." ~ Reid Hoffman

Hey, I've been working as a Frontend Developer at a startup in Hyderabad for the past 2.3 years and I've also worked on backend projects unfortunately, over the past year management hasn't been able to secure new projects on Monday my 4 colleagues had 1 on 1 discussions with HR and were given a month to find new jobs. If they can't they will be terminated in 2nd month I'm currently on a project but with less amount of work—should I be worried? It seems like they plan to terminate 4-5 employees every month.

With big corporate giants like Google, Apple, Bain, Tesla, Amazon etc. laying off staff in the name of cost reduction, automation&innovation and restructuring while at the same time tech companies like Accenture not awarding any yearly hikes to professionals for 2 consecutive years now, where do you see the IT/Tech/Consulting industry heading towards in next couple years down the line? By when is the market expected to revive? Which companies are still committed to ensuring job security along with high pay standards or is that a thing of the past? Please enlighten me😊

Extremely sad. Labelling laid off folks as underperformers in public. Getting hired in this market would be a huge challenge for them now.

In the silence of the morning, a whisper cuts the air, A message cold and distant, a news too hard to bear. Dreams built on dedication, now teetering on the brink, A heart beats heavy, wondering what to think. Hands that once were busy, now tremble in the void, A future once so certain, now painfully destroyed. Colleagues turned to family, faces etched with strife, Together we once thrived, now fragments of a life. Hope flickers dim, yet stubborn in the dark, A search for new beginnings, a flame ignites a spark. For even in this sorrow, strength will find its way, In the wake of endings, dawns a brighter day.

I joined Morgan Stanley India as a spring intern this January. I was supposed to work for 6 months and would have been converted to a full time employee post the internship. I worked my ass off and got outstanding feedback from my manager (VP) and their managers as well (ED). On the other hand I kept asking my manager about my progress and chances of conversion. He assured me that I was an extraordinary intern and he kept assigning me work other than my project. I also interacted with other people in the organisation and received great feedback from them (upto MD level). Now coming to last week, I had a chat with my manager about the same, he informed me that the organisation has gone into a hiring freeze just 2 weeks back and thus I won't be getting converted to a FTE. Also this info is not public yet and a lot of the other interns have no idea what the situation is here. The people in my team have offered to help me out with opportunities outside the firm but there's nothing they can do inside for me. The most they can do is give me LORs but nothing more. I am a recent graduate with 2 years of experience as an intern at multiple startups and MNCs. Can the folks here help me out. Also is there anything I can do at the firm?

Got laid off a few days back. Now feeling a little helpless and tensed. The company's HR said that they are laying me off because of poor performance and they said that despite continuous feedback sessions (which they did not even conduct nor give me any suggestions/feedback) my performance did not improve. :)