Comment on In 2021, my company laid off 100 people. Later that same year, they hire me and others to replenish this loss

Humana@lemmy.world ⁨1⁩ ⁨year⁩ ago

I use to work in HR for a medium sized, publicly traded company. Here’s how it works:

Wall Street banks set quarterly profit targets for companies. If the companies hit the target, stock goes up, if they don’t it goes down.

If stock goes down too much, C-suite is usually fired. This is what motivates them.

There is usually a few weeks between when the company calculates it’s quarterly numbers and when they are legally obligated to report them.

If the profits aren’t up to the Wall Street calculation, the C-suite panics and 95% of the time will go on a firing spree so when the numbers do become public they can claim they analyzed the company and magically found it was overstaffed, and already took care of the “problem”. This is an attempt to save their own jobs.

In truth they did the firings in such a hurry nothing was seriously looked at, no significant problems were discovered, and the employees let go were closer to random than carefully selected based on performance and need. This happens every quarter all across America.

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