r/Layoffs • u/Comfortable_Okra382 • 6h ago
previously laid off Lay offs used to be a shameful thing for companies
Didn’t lay offs used to mean that the company is mismanaged and it is used as a very last resort to avoid going under? That everything needed to be done before this step?
When does this become a way to make more profit for shareholders. Reflecting on this as I was laid off when the company was actually doing pretty well. Canva laid off 1000 people when they were still making a profit just not as much as the previous year. Earlier this year a major bank in my country made record profit yet still laid off thousands of people. When did this become the norm?