Haha, I was one of the 10,000 unfortunate ones. Thankfully got another job pretty quick. But yeah, when I saw the Q3 numbers, it did hurt. Record breaking quarter and yet 10k job cuts. Just felt like they did it for fun, because everyone else was doing it and wallstreet investors would question then if they didn't!
It's gonna hurt them in the long run. No they can't talk about loyalty to the company and all that bullshit. These companies laid off people with 20 years of experience within the company via an email.
People are gonna jump ship faster now as soon as they see a good hike.
Then watch them cry how people don't stay in a company long.
I doubt thats gonna happen soon. This market isn't going anywhere, making such jumps with hikes isn't easy. And few months later, it will normalize. People in general have pretty short memory. People will always flock to FAANG & M.
Yeah, this is the main reason you should never stay loyal to a company. The moment they think they can screw you, they will. Microsoft, Google, Amazon knows that there aren't many companies hiring with that level of pay so employees can't go anywhere. So even with record profits, they can easily forgo annual hikes and employees don't have any option.
Leave your company if you get a decent offer (overall package+work+work life balance).
Capatalism at its best. If you try to look into history why people desisted capitalism in the past.
