I am grateful today to still be employed in a job I like.

7 Comments

1. AnonymousJune 30,2023 at 3:13AM UTC

   It's a definitely a sign that all is not well with you company and that you might be includedd next time.

   It's up to you and your tolerance for surprises.

   I would think about at least getting a side hustle and saving for that rainy day. It happens when you least expect it.

2. AnonymousJune 30,2023 at 1:10PM UTC

   I was spared for 6 months when this happened around me. Start looking & fixing your resume & building your portfolio.

3. AnonymousJuly 1,2023 at 5:00PM UTC

   It all depends, but either way, I would start looking outside.

   If your company is restructuring and shutting down certain operations, it might be worth hanging on, as they are trying to stay relevant in the new worldview. One way to determine this is if the layoffs were directed at certain positions, departments, or locations and not across the board.

   If the firings were random, say each department had to reduce the payroll by 10%, then that signals that the company is not doing well and could be the first in a series of similar moves.

   In a publically traded company, layoffs (particularly at the end of a fiscal quarter or year) are a way to boost the stock price by telling the investors that it is becoming leaner and more fiscally responsible (when often the opposite is the reality.) These layoffs are generally due to revenue projections not being met. It might get better if the revenue gets better the next quarter, but it is more likely "cutting off the nose to spite the face."

4. Zeecil KimmelJuly 3,2023 at 12:35PM UTC

   I am in a very similar position. I stayed but I am polishing up my resume and doing some networking in case the next time it affects my job. As one poster said here quite eloquently it was due to try and make the stock prices look better - but ultimately it will make everyone unable to get work done.

5. Maggie StoneJuly 3,2023 at 6:45PM UTC

   Thanks for the advice, everyone. Definitely dusting off the resume

6. AnonymousJuly 4,2023 at 1:51PM UTC

   Unfortunately layoffs are happening everywhere. There are no guarantees if you stay or go. My suggestions are;

   try and keep your resume updated, cut unnecessary expenses and save what you can.

7. AnonymousJuly 4,2023 at 5:17PM UTC

   Well since you asked, it depends. Is your role critical? Are you one of a kind or one of many? If one of many perhaps look around to see what is outside since you will likely have a warmer response from the outside community during the RIF period. If you are happy and think that the company still satisfies your career goals then you should be okay but definitely when it is addressed in a companywide meeting ask the question, is this the end of the reductions. Depending on what they respond with you can them make a more informed decision. Additionally, if you know anything about the companies revenue stream and goals for the year use information from RPE.

   Revenue per employee (RPE), or revenue per headcount, is an efficiency ratio that tells you the revenue every FTE generates on average. Every company has a threshold for what is reasonable based upon their COGS- cost of goods- payroll, overhead, tech, etc. Good luck!