The last year has seen a number of large tech companies lay off large numbers of staff. The list for 2023 includes large companies, like Google (12,000), Amazon (9,000 this time), Microsoft (10,000), and Meta (10,000 this time), but also small companies like Zoom (1,300), Rapid (115), and Roku (200). It's not just tech companies, however, as Disney (7,000), Gap (500), 3M (6,000), and David's Bridal (9,236) are letting people go. There are plenty of other companies who have let people go, which is interesting to me as the economy has grown in the US, though profits were down. It's hard to know whether these layoffs are really important for all these companies or whether these layoffs are management's decision to group their bad news with everyone else's and take advantage of the opportunity to shrink labor costs.
In any case, layoffs are sad and stressful. Certainly, the people being let go are traumatized and I don't want to minimize the impact to their lives, but this can be hard for the survivors as well. This isn't just a Silicon Valley situation, but one that affects many employees all over the world. Whenever there is a large staffing change in an organization, those that remain can be traumatized and unproductive. This is one reason that public companies must notify and disclose layoffs to investors.
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