I am one of those parents. I taught my kids to NEVER trust the company. When the first round of lay-offs hit, time to move even if you are not part of that group.
@@OnWisconsin33 these people literally live in delusion where they expect jobs to pay them forever and always, even when theyre simultaneiously voting for democrat politicans who are destroying our economy
@@mottorcyle5052they could make it easier to obtain a job then. Or pay more 🤷♂️. Many people who have good resumes are ONLY good at building resumes. Many competent people are NOT GOOD AT RESUME BUILDING AND NETWORKING. If you spend all day networking and designing nice resumes that’s wonderful but you didn’t actually prove you’re good at the job.
I saw this video that made so much sense. They are purposely doing mass layoffs all at once so companies can “put entitled employees in their place”. The post pandemic work marketplace has been very employee centric. Meaning employees had all the leverage and we’re all negotiating higher wages and better working conditions, demanding work from home, etc. These massive layoffs are meant for companies to make employees feel insecure and vulnerable. Allowing employers to retake the leverage in the workplace.
@@niricoelmingo4721 I'm going to slightly disagree here, but just slightly. Yes it would seem that employers have the advantage in these situations, but then again for the longest time since the onset of covid, there have been tens of thousands, if not millions, who took full advantage of being paid for not working at all. What should have only been 2-3 months worth of payments at the longest turned into a couple of years for many people. The government should have cut the freebies off a lot earlier than they did and the results were some incredibly spoiled and lazy people who expected a lot for nothing in return. That mentality still exists to a point even today.
They will always try to not pay unemployment. I don't trust *any* "executive" person. I've been burned so many times over my life by Corporate that whenever I've had a meeting, I record it. Period. I don't know about other countries, but 'single party' recording should be a national law. I live in a state that allows me to record conversations without having to tell the other party & I think it's the only way to keep corporate-minded people honest.
I didn't trust the company that laid me off, to the point that I made a copy of the notice they made me sign before I turned it in. Thankfully it wasn't needed.
I survived 3 layoffs at a company in 2 years then got laid off in 2009 with half my coworkers. We all went to the bar afterwards. The people who stayed had a terrible experience. Fire fighting problems, pissed off customers, failing equipment long hours. Company sold to overseas competitor. I learned really quick to get my finances in order, pay off debt and get a emergency fund setup. Working really hard towards getting early retirement level funds saved up. If you are working at a reasonably sized company, you are just a number on a balance sheet. Don't get emotionally tied up in your job.
Good story. The lesson is, getting laid off is sometimes a blessing. I got laid off March 2020, the early days of COVID. Another one third of the office staff got canned too. Then a month later, I talked to one of the "lucky" survivors, and he was doing 1 1/2 times the work for a "temporary" 40% pay reduction (that ended up lasting the rest of the year, when they kicked it to a 15% reduction). He was truly pissed that he DIDN'T get laid off, because he would have been making a lot more on the enhanced unemployment that year than he has slaving away at the office. Him and couple other project managers resigned before the year was out, then the company went into rehiring mode in 2021, but refused to pay any more than the rate they were paying pre-pandemic, so they hired a bunch of recent college grads. And the boss is still golfing and driving his Lexus. I'm sure the process will repeat itself when the next downturn hits. As for me, I found part time work after a few months, then added some contract work in 2022, and was making decent money, and was MUCH happier than before. Now I'm back to full time, making very good money, and saving as much as possible, because who knows what's going to happen tomorrow.
@lenalove8138 , was a small town. Company laid of about 15% of the town. Whenever someone walked through the door of the bar, we all cheered, and someone just handed them their first beer on the house. 🍻 Was a lot of fun. Definitely took the sting out of it.
I use to be a mid level manager at a telecommunications company, where my job was to audit calls for quality control and I would do one on one coaching with my people, to make them better at handling customers. I was really good and efficient at my job, and always won the shift bid. My CEO at the time was banging all the half way decent ooking chick's, one was in law school and had the same job as me, and could never keep up with her work load. I remember my CEO coming to me asking if I could come in an hour early and stay an hour late to help her. Keep in mind I always see her do her schooling at work. I'm sorry I'm a single mom of two. My daycare bill is not going up because your getting your jollies off in a law student. How about you help her since you like her so much. We had layoffs later that year. About 20 coaches got laid off, but guess who got to stay even though she could never deal with her work load.
For the history nerds like me: Does anyone feel a return to the days when big business owned you lock, stock and barrel? You danced to their tune, or you were replaced instantaneously. They are creating a massive unemployment scenario among educated, skilled people who want to work. They are paying pennies. They are creating a scene where your job is everything and you will do anything to keep your job. Job security is rapidly becoming a thing of the past. Notice that the jobs on the line are primarily held by middle class Americans. In spite of the fact that they are making Billions upon Billions of dollars, they are expecting people to work long hours, weekends and I see an end to holidays or a severe reduction at least. You will be grateful for whatever pittance they pay and do whatever you can with it.
Don't worry they just end up creating a work environment where people start up their own businesses or become self employed and charge them 2-3 times as much. Plus those people will have more control over their life and more money instead.
Millenials and gen Z REALLY needs to lead the charge of: "ONLY working what is paid". Oh, you laid off half our team, and cut the deadline as well? Well, sucks to be you. We're gonna work 0 overtime. Oh, you are saying we have "no choice" to the new work? Nah, quit with 0 notice. They won't give you notice, give them none. Stick the knife deep, and TWIST. Let them learn the HARD WAY. It has yet to sink in that they can't just replace anyone at any minute.
In 2019 a cyber security company I worked for had a lay off and cut 25% of the employees. The environment got super toxic and fearful and welp, another 30% of us quitted within 2 years after the lay off. They got in so much trouble that they changed the contracts of the remaining employees so that everyone had a 3 month notice policy if they want to quitt. Until this day they have a hard time finding new employees and keeping the new ones. They lost a bunch of customers, money and not one of the old employees either they got fired or quitted themselves came back.
@@jesmey4902and that is what needs to happen to every company. Right now is a pivotal moment in history for the labor force that is going to determine what quality of life most of us will have in the future going forward. We’re all suffering in this economic downturn because the Lahore force gave up our leverage several years ago when we all stopped believing in unions. 🙂
@@jesmey4902And I'll bet you a thousand bucks, that the suits are all "HOW COULD THIS HAPPEN?!", UTTERLY cluseless and confused, since: their focus testing says this would work.
@@Kattlarv exactly 😂 There was so much confusion why so many of us left after that. Yeah, underpaid and overworked is such a good combination.... I had 10-14 hours per day with no overtime pay of course and worked for 3 and they had the nerve to hire some rookies and pay them more. Now I work for a fantastic company, with a great team and a much better salary. Why should I go back? Fun fact the HR lady who created the mess with the CEO are both fired now 🤣
@@creepycrespi8180Many of these companies that laid off workers had made record profits during the pandemic. Not all of these layoffs are due to losing money. Also, companies still are able to negotiate when Unions are formed. 🙄
@@justjackie4394I’ve always thought that charging 10,000$ a week (in taxes) for every job listing left up longer than a month was a good idea. At least filter out the fake job postings. Also we need to stop rewarding bad behavior on the stock market. He’s right unions suck. But the stock market sucks too. Who looks at a company laying off 100,000 people and thinks “profit reports are up in Q3! Time to buy!” ?!?
When you work for someone else (i.e. you are an "employee"), you have ZERO control. Someone else decides your destiny. I was in tech from 1995-2005 at one of the largest big tech players during the halcyon days of tech, and I woke up in December of 2004 and decided I had enough of the stress and just walked away. Greatest feeling ever! I took 9 months off, then started my own company doing management consulting in the same field. Never regretted it for a minute! Have made more money, had more autonomy, less stress, and greater clients ever since.
4:19: "As exempt employees, you are expected to work extended hours before and after your work schedule, as needed, to complete all work-related tasks..." Translation: "We're making you work as many overtime hours as we say, when we say, for free." Since it's right there in writing, it's time for these employees to have a talk with the local labor department.
@@dcg590 in 2019 a cyber security company I worked for had a lay off and cut 25% of the employees. The environment got super toxic and fearful and welp, another 30% of us quitted within 2 years after the lay off. They got in so much trouble that they changed the contracts of the remaining employees so that everyone had a 3 month notice policy if they want to quitt. Until this day they have a hard time finding new employees and keeping the new ones. They lost a bunch of customers, money and not one of the old employees either they got fired or quitted themselves came back.
@@dcg590a company is not going to be able to replace their workers all at once. 🤣 They would have to first go through several rounds of interviewing for several candidates, then do onboarding and orientation for all those replacements and who will they have to conduct those interviews and do all those onboarding and orientation sessions? And even if they did have people to do it, they would be out of operation for several weeks to months before they could resume operation. So, they would lose thousands to millions of dollars just from not operating, even worse they will have pissed off clients whose business they would lose forever.
good money if licensed electrician,plumber or carpenter but crappy work that nobody wants to do anymore,,,thats why there is a shortage,,todays generation has no interest in that field
I am an Electrician , find it very interesting and mentally challenging. Not for everyone, but has given me a good life , Lots of opportunities for advancement, Plus a path for owning your own company.
I’m not an electrician, but I am apart of a union. It has saved our butts countless times from management, while ensuring us good raises, benefits, retirement, etc.
USA is wild about this! In Germany we really have a pretty good employee protection. Yes, it can also happen here, but not in these numbers and not in such style
If I was asked to make up a story that I wanted to spend time with my family to cover up their layoff, I would immediately ask them how much $$$$$ that is worth to them. They better cough up some cash for that. And then I'd sue for age discrimination . . . better be really careful only laying off 5 people if they are oldish (or pregnant, or women, or some other protected class.) In fact, I think suing for age discrimination is 100% going to happen if I ever get laid off regardless of what the employer tells me unless they give me A LOT of money to go away.
Not just a tech thing, very common honestly in most jobs. They find a reason to cut staff, people call out sick, go on vacation what ever. They have the remaining staff just work more, harder, longer hours. Suddenly it becomes the new standard to have just one cook in the kitchen or one fork lift driver in a warehouse that used to have 2 or 3.
Be careful how you handle layoffs because it can spell the end of the company if those left see you handled things unethically and they won’t quit they’ll just stay and work less until the company full on collapses.
@@michaeldautry Per hour they generally pay more, assuming you get to the level of getting over time. But they pay less in benefits, taxes etc, might even qualify for a lower bracket as businesses with more than say 30 employee's I believe have higher requirements than those under it. But in a lot of cases it's just too look good on the quarterly report. For a long time companies like Boeing would fire it's staff every year to keep the overhead down and then rehire them a few weeks later. It also removes some "seniority" benefits a job might have for working there for ten years or more.
Oh yall don't even understand. It's about to get much...much worse. Two more rate hikes means millions of jobs. Janet Yellen already said so at the beginning of the year.
@backseateats9513 take comfort that you're not alone. That with both rate hikes coming for Thanksgiving and Christmas times, more....many many more will be joining unemployment to curve "inflation". It's a necessary evil.
@@DrDisinfect_TheWorld smh I wanted a house lmao Made 90k got let go cuz of a ego crazy lady manager It’s crazy if it wasn’t for my safely net if $150,000 I’d be worried But I live at home No kids no wife, no house of my own You can say my past opinions of me not being blessed with these things Kids a significant other and a home are now a blessing by not having them 🔥💣 Let the bombs go off my fiend I pray you will be blessed in all your ways… follow the path the lord sets for your ass :)
@@OneMidEvilKnight yep -! It’s a bummer I have $150k stacked for a future business “code named BDay” But at this rate that money will go to survive rather than the bday
I just got locked out of my office equipment, thankfully the company accidently downloaded malware and had to kick everyone off and after 2 hrs of IT help I got everything back. winning?
At a law enforcement agency I worked at for over 30 years, overtime was always there for employees to volunteer for. During Covid and defund the police, overtime began to become mandatory and employees were forced to work 16 hour shifts up to three times a week.
i was working 12hr days 5 days a week and once or twice i would go in on saturday for 4-5hrs for about 10 months straight...worked like an animal and literally became a machine....not much time for anything else but made bank and invested most of it for my future.
Companies like Design Environments are worst. They hire on, continue to interview for a position just churn through employees until they find the cheapest labor they can. This “manager” if you want to call him that named Ben Nicolas is part of that problem. Dude sits in meetings all day for a living, doesn’t train his staff and complains when deadlines aren’t met bcuz of hiring college kids with no experience.
Dang glad to see this. My restaurants location closed on Halloween 😢 instead of letting us get unemployment they said we could disburse among the other locations. But of course! They're already staffed. A few seniors got relocated but of course FOH is always staffed. So yea, I'm feeling it. I went to a job interview today and no one was there to interview us. Truly end times of things. It's getting real.
Glad to see more people are realizing that graduate degrees, university, and white collar employment is not the way to go. Aside from being careful about what college you choose, you should also ask yourself of the potential self-employment and small business opportunities you can get from this field of study.
Never sign up to be an exempt employee! This is exactly why I am a contractor now. If I work any additional hours you must pay me overtime which is about double my hourly rate. Nope! 👎🏾
yep they always try to get me involved to solved their problems and i just laugh and ignore them,,,remember buddy,,you wanted that management job,,,goodluck
Wild that companies can look at an employee and say “we no longer need your position due to restructuring you’re being laid off” vs “we no longer need your position due to restructuring, we plan to move you to a different department where your skill set can be of use” the lay offs really are about saving a quick buck today at the cost of the companies entire future
Many companies do exactly that. Every company I've ever worked for does exactly that. When they DON'T do that is when the employee being laid off doesn't have any other skill set, or those other roles have already been populated by other employees who have been moved to them because their skill set was a better fit. And in many cases companies that don't lay off some portion of their workforce don't HAVE a future for ANY of their workforce.
This is why I am debt free. Im mortgage free have my home paid off and no car payment. I am not job dependent an that is the best feeling in the world. I love it
Lay-offs are really the only thing for which there is no "safe space." Aside from maybe a severance package (which a surprisingly high amount of workers are not eligible) knowing you're at the mercy of the free market and there's no longer an HR representative to frivolously complain to has to be every bit as terrifying as the homeless encampments you once drove by.
Three colleagues of mine laid off over the course of a year. Every one of them communicated to the team that, "It's just time for me to try something different." It is certainly something that could be coincidence, but... those exact words? They were told to say that shit.
I survived the layoff, only to have to work 3 times as hard, making up for the folks that were no longer working there. They then installed a data input system that took us 3 times as long to get the same information in. And then they hired a manager to micromanage us. At that point, I joked to the fellow coworkers that if I got fired right then, I'd probably walk out crying AND laughing because I would be both sad AND happy. When you work for a company and you don't know whether being employed is a good thing or bad thing, that's messed up.
No wonder I don’t fit in. I would never agree on working overtime for nothing. I am the C - U - N - T that says No! I choose my freedom over anything else. I’m nobody’s Biatche. That’s why nobody hires me and thinks I’m crazy. This is awful how employees are treated. Everyone should just quit, since you’ll be fired anyway and then told to lie and say that you’re taking time off. Are you kidding me? Don’t get me wrong I believe you, they use you and want you to be loyal, then fire you and tell you to lie. That very psychopathic.
Apparently in 'Murica, regulating employee/employer relationships is considered pinko-homo-commie-eurocuck-socialism or whatever booggie man Americans have been conditioned to fear, this season.
I got laid off on Friday and I went back out to work on Monday. Not the job I want perfectly yet but there isn’t no way I’m staying home depressed until the right job comes along. I’m gonna keep hustling and staying busy. I’m not bitter about my job layoff because I never looked at my job as “ mine”. I looked at it as a good means for survival and financial stability in my life one day and I put a load of money into “my”. 401k and company match for my future. So it’s all good and life goes on. Keep your heads up and stay busy , that’s the key. God bless
I can’t believe people are treated this way , I could never work for someone else and I get that’s not an option for everyone , but it’s got to be an emotional rollercoaster day to day . As an aside we tried Salesforce and it was a monumental waste of resources. It was almost as if they had no sales experience in the real world , cringe is the best description I could come up with .
The one at 3:03 is so freaking accurate. I worked for a company for 2 years before being laid off last July. Come December they did another round and yet three weeks after they have a big kickoff with the sales team with unlimited drinks and all you can eat..... Talk about a slap in the face to the people that are laid off.
"Your company is not the best in the world" If you have a team of overseas employee, specifically in Pune, Chennai, or Bangalore. Yeah, your tech is garbage, get your finances ready because the lay offs are inevitable
Should ask yourself how much money do YOU make your company. That will tell you how important you are to them. Me I make the company money something has to be real bad for me to get laid off. In house office people cost them money so you can guess who gets laid off
I'm a former C.O.O of a tech company in the app and cellular segments of the market. I still have many connections and friends who work at companies such as Microsoft, Apple, and even X(Twitter). The reasons for the layoffs and restructuring are simple. Over the last 25 years these types of companies have hired more staff due to market projections, and in recent years being forced to hire more than needed due to D.E.I quotes. Then 2020 hits and everything changes. They could have very easily laid people off in 2020-2022, but they didn't. They thought things would go back to the way they were before 2020, and they haven't fully reached that point. During these last 4 years they have realized certain departments within their business had a ton of bloat. In the end they had to cut the fat. It sounds cruel , but if you owned a multi billion $$ entity you wouldn't keep employees in their positions if it didn't make financial sense.
I was laid off ONCE after my sole proprietor CPA firm's biggest client went belly-up (not MY client, by the way). That was in 1983 and they brought me back for the next tax season. From there, I went to a regional CPA firm, left there to start my own, left that to be a Controller for 8 years, left that for a bigger regional CPA firm, left that to be a Controller, left that to start my own CPA firm, left that AFTER 10 YEARS, to run IT for a NYSE-listed company, made a lateral move to the accounting department and retired 3 days before I turned 65. Funny how I was always in demand and I could still be working over 5 years later.
There is a huge layer of fat at most tech companies, no doubt, but don't be fooled: Layoffs are a popularity contest. If you're boss doesn't like you for any reason, you're on the layoff list right now.
I've been fired 4 times in my career. After every firing I made more money. Congratulations on your future promotion if you got fired. You're gonna be fine. To the people who didn't get fired - sorry. You get to stay in hell because they decided not to save you.
Yup. I saw the writing on the wall. Began a business. Trained myself. Then walked. Boosted my income by 50% the first year out, then doubled the next, and so on. The key was being debt free and lots of cash in the bank.
Wow! That is insane for a company to ask someone how to position their layoff. It’s best to be honest that it was a layoff when looking for a new role. When applying for new roles those hiring managers will want an explanation for the gap in work or why that person is no longer with the previous company, so there’s no other way to position it other than saying it’s a layoff. Saying it’s a layoff is better than saying you took time off for family because you don’t want them to think you’re going to take time off when you start a new job. Wow!
Investor funding and clever marketing had the public fooled into thinking that tech jobs were these lucrative and secure positions. Once the funding ran dry, these companies had to accept the realization that operating at a loss year after year is not doable long term.
If you "take up the slack" after layoffs then you are the root of the issue. You are the one who is enabling the soulless corporation to prey on people by allowing them to continue business as usual and not suffer repercussions of their bad behavior.
Kids…..learn a trade, im damn near 45 and semi retired, i worked as a plumber for 25 years but in that time ive managed to own 4 homes and now just collect checks from 3 of which are rental properties here in the S.F. East bay….only time i do actual work is when one of my tennants call with a problem…….dont not, i repeat DO NOT, go into sales or retail work….that is entry level and basically a dead end job, on top of that your employer will only see you as a dollar number and when the number drops… you will be replaced…QUICKLY!!!
If u don’t like it ..work for yourself ..most layoffs come to try and save. The rest instead no layoffs and then the company goes under and everyone is out of work ..when companies profit share it helps immensely to get employees to go above. And beyond and care ..diffence between owners and employees..owners never get a day off and the biz is their life 24/7..most employees job is just a place to get a paycheck and the second they’re punched out is the second they stop caring or thinking about work and the company ..just be grateful the company was able to pay you for your work when you were employed
I don't know for tech companies but banks have hired more employees than they needed during the pandemic without actually take time to resolve many issues with the work structure. Instead of removing dead weights and unqualified people in management position (a lot of these positions are filled by favoritism instead of qualifications), they're now cutting left and right and trying to "restructure" their work organisation. It's a "normal" cycle in all industries (cutting a lot of jobs, than needing new employees because those who stayed are leaving on their own or are on sick leave), and it cost a lot less than investing in a good and efficient work structure.
"Human Resource" employees are not essential nor do they add anything of value to a company. Most of the "probematic" and toxic people in a company can be found in HR. The way this lady acts about having to work harder during a difficult time for the company is is why HR is rightfully looked at as a liability and not an asset.
That has always been the case. One hr rep told me I was not doing work despite evidence to the contrary. He had the audacity to commit wage theft on camera. He ended up getting fired for wage theft after the state of CA found them guilty. Another boss laid me off for no reason at all. He got angry when I posted videos of his bad behavior.
Exempt means you are expected to "on occasion" work extra hours to cover deadlines. It is NOT a blank check for the entirety of the employee's life. The salary is still an exchange for 40 hours of the employee's time, with a handful of times where more time is needed. The expectation that exempt employees work over the scheduled 40 hours consistently is a joke.
I generate more than my salary with zero oversight and survived 2 layoffs. Make yourself indispensable. It's the only way to sleep with both eyes closed anymore.
As I recalled, it is the too big to fail type of mentality. Unlike the government, most private companies are forced to cut the fat due the extreme losses presets and found under the new government laws. Of course, i am fan of the capitalist economies where the private markets are unleashed. However, we are in a capitalist economy where government corrections aka public sector correction is more important than any private market correction. Hence, America is in an economic crisis. Stupid political mistakes and poor voting skills has caused an economic crisis.
Yeah it's not real capitalism. I am in NY so that taints my view. Besides the national-level "let's create assets bubbles with zero interest rates for no reason" thing, in NY we have LOADS of laws and regulations. Such mundane stuff. So we keep loads of records and have lawyers review everything. At some point these were consumer protection laws but the laws now feel like empty fodder for the legal industry, and obviously costs get passed along. Then our court system allows ambulance chaser lawsuits without damagers to go through, so you need to charge more to create a legal fund. It's ridiculous.
I am almost certain the second lady was talking about T-mobile. Or they just used the same terms and targeted the same people and had random layoffs towards the end of th year after having s9me at the beginning.
Don't bother with holding back executive bonuses and raises if your company is hurting, layoff the people who actually DO the work, force the ones that remain to double their hours without compensation, and worry about people telling the truth on Glass Door. Idiotic. Yeah, deregulation (voo-doo economics a la Reaganomics) worked out SO well. Remember, if your company is laying off more than 10% of their employees, polish up your resume and roll. Investors, TAKE NOTE, divest, that company is in trouble!
They have any right to do what they want...employees have no rights...you really need to look at this more closely. Plus you won't get unemployment from the state, they don't care at all. That is why I went to work for myself.
