After a few months, I am out, meeting friends in person and some shared incidents about layoffs. COVID has changed market dynamics and operations. Many jobs will be lost forever.
The capital was cheap; growth was supreme. Now it is about survival and profitability. So many non-essential roles are getting cleaned up. Some firing incidents are to conserve cash and increase the runways. I am not blaming anyone here because no one anticipated the butterfly effect of COVID. The thing which made me sad is the way people got fired. In some instances, security guards standing next to them and other thousands of firings happened over 10 minutes Zoom call.
All the principles and vision statements on the company’s wall or CEO’s speech turned out false. When times are tough, that is when virtues come for the test. A leader’s ideology, practice comes to the center.
Tough times are temporary. It helps in filtering froth. It helps in knowing who is guarding their principles and who was faking it.