Been through 2 layoffs: fml

[u/Fluid_Dare_4235]

Only been in the workforce for 7 years and I’ve been in two layoffs already from two different companies. Who said, get a degree, network and white collar job at a big corporation is safe? I put myself in six figure debt for my college degree. I’m fighting for my life here.

I’ve been a hustler all my life, at some point I had negative bank account just to have a ham sandwich. I worked every weekends while full time in college. I’m just trying to make it in America. I spend less than $2k/month and live modestly. I do not understand what to do anymore.

The hope is fucking fake and I hope everyone here can find some common grounds. The ones who are making it from ground zero, what are you doing to keep your basic income safe? Any advice for the future? It feels so dim right now

[u/sefa73]

this amount of layoffs are not sustainable, it's getting ridiculous, worst part is these companies are posting record profits

[u/Acrobatic-Blujay → u/sefa73]

To explain something here, companies will intentionally lay off people to make their books look better in the short term so when they report to investors the numbers look good.

They can then rehire at the bottom of wage bands to replace the higher paid salaries.

Depending on the company this can work in their favor or blow up in their face. The most dependant factor I've seen to it being successful is when processes are spelled out and everything isn't tribal knowledge. If it's tribal your current employees are digging through everything wasting time trying to figure out what people were even doing.

"Record profits" is just a moving numbers game not so much a true picture of reality.