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Tech Layoffs: Why You Should Be Concerned
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In this episode, Newton delves into the alarming wave of job cuts sweeping through the tech industry, shedding light on the staggering numbers.
The narrative zooms in on major players like Google, Amazon, Microsoft, PayPal, and others, all announcing significant layoffs, some doing so under the guise of cost-cutting.
The episode highlights Tesla's recent mass layoffs, drawing attention to the human toll behind corporate decisions.
Since the beginning of this year, and that's been only four months:
- DELL has laid off 8,000 employees,
- PAYPAL has laid off 9% of its employees (2,500 headcounts)
- MICROSOFT has silently bid goodbye to 1,900 of its employees.
- GOOGLE axed 1,000 employees,
- SAP axed 8,000 employees,
- CISCO axed 4,250 employees,
- XEROX axed 3,000 employees,
- AMAZON axed 400 employees,
- TWITCH axed 35% of its workforce,
- APPLE axed 614 employees,
- SNAP axed 10% of its workforce,
- SALESFORCE axed 700 employees,
- TIKTOK axed 250 of its employees,
- ZOOM axed 150 employees…
Newton questions the ethics of sudden job terminations, emphasizing the potential impact on employees and their families. He scrutinizes the disconnect between profitability and job cuts, hinting at possible ulterior motives, some driven by Wall Street pressures.
The podcast raises concerns about the moral responsibility of companies towards their employees, advocating for a more compassionate approach to workforce management. It also issues a call to action for upskilling and reskilling in the face of technological disruption, offering insights into future-proofing one's career.
The episode serves as a wake-up call to some of the tech industry's harmful practices and urges listeners to stay vigilant amidst the changing landscape.
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