ElomDusk
ElomDusk
Grapevine

Layoffs were a total failure at changing anything

I don’t understand what the point really was

  • companies with a bad product are still struggling
  • companies with a good product are still growing
  • rent in Bangalore, Mumbai is still sky high
  • salaries are still high, people are still asking for more
  • food is expensive as ever
  • stock prices of companies that fired people never really went up

Someone make any sense or any of this?

19mo ago
WhiteSwan
WhiteSwan
Accenture19mo

I could be wrong but I think layoffs were a knee jerk move by most companies without much thought pur into it.

Let’s admit it, most CEOs are first timers and are learning as they go. For most of them this was the first recession.

They saw their peers take certain decisions. They read about what happened in the previous recession.
They asked investors what was the best move.

Everything scared them. So they sacrificed the most easily replaceable resource - humans.

cuckingfunt99
cuckingfunt99
Stealth19mo

These CEOs saw their peers overhiring in 2021 for no good reason and followed suit.

Now they're again seeing their peers and firing those people.

Khud ka dimag hai ki nahi?

roct
roct
Accenture19mo

Makes sense. Sucks for the ones getting laid off tho, unlucky.

PunyDrama38
PunyDrama38
Stealth19mo

what??? it was certainly important to discipline my gen z friends. We were acting like we are entitled to high paying job. I have seen this people feeling smug about there salaries. Some of my friends were making fun of gov. jobs, other professionals. That was absolutely necessary. Not only this made us understand humility but also showed the realistic picture of corporates. The way students are in rushing into 5 sub branches of CS, that was laughable. This thing has made them aware at least .
p.s. : i want this world to earn good money for good life, not for FOMO or what society cares.

Nightgeek
Nightgeek
CrowdStrike19mo

I agree to your point. My batch in college CS had only 50 students, now more than 100. Like actual wtf students following trend like sheeps. They were going to fall someday.

cuckingfunt99
cuckingfunt99
Stealth19mo

Govt jobs should always be made fun of imo.

Govt officers (not all ofc) tend to be the most incompetent & entitles who are sucking the nation dry.

HandyBull26
HandyBull26
DealShare19mo

I’ve some pov on it:

  1. Most of the high quality talent which got laid off in india got absorbed pretty quickly ex. sharechat folks
  2. Many companies did layoffs badly, w/o strategy, did multiple rounds to see at which round investors got pissed vs happy
  3. Namesake: Did layoffs because they could (no real runway gains), sack bottom 10%, bonus good pr as investors think company is becoming more efficient
SpeedyAide60
SpeedyAide60
Stealth19mo

Where did Sharechat folks go? Which firms?

Heracross
Heracross
Others19mo

Same I want to know this. Many hired at lower price

AlphaGrindset
AlphaGrindset
Series A Startup19mo

I don’t think so. I feel they’ve been extremely important to realign expectations for an entire new generation of workers in the tech industry.

I feel there’s more humility amongst employees and they know it’s not always up, things can really turn around.

Hopefully this helps people stay more balance as we figure out the rest of our working careers

BrownDrake60
BrownDrake60
Twilio19mo

Well it reduced attrition and acted like a hammer to make people return to the office.

It was a power clawback.

On the flip side, I don’t treat my org special anymore. My time for your money.I no longer want to bond with anyone from work, go to tree planting, team lunches. No more of that Vin Diesel shit “We are a family…”

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