#MassLayoffs #CorporateGreed #CancelCulture #FightBackAgainstLayoffs
Are Mass Layoffs a Result of Corporate Greed?
I am really amazed at how celebrities or people online will get cancelled if they say a thing wrong. However, there are companies that hire and let go of people just like that, resulting in affecting the lives of families and getting almost no pushback. On LinkedIn, Twitter, and some newspapers I have even seen people praising these companies.
Why We Need to Fight Back
We need to fight every battle. Being “OK” with things and being nice and loyal to these companies have proven that it does not yield any good results. If a company suddenly lays off more than 10% of its employees, people should really question if they want to be associated with such a company.
The Power of Cancel Culture
Cancelling a company does not intend the destruction of it but rather has a goal to affect its performance. Imagine a big company does a layoff and people react negatively, causing the company’s performance to drop by 3-4%. Next time, they will reconsider a layoff. This would also create a ripple effect and make other companies react more carefully. Fighting back against these actions can lead to positive changes for workers.
Embracing a Fighting Spirit
We need to fight more. With the advancement of AI, companies may become even greedier, so maybe we have only a few more fights left. We have been losing battles because we did not fight for years, and we are currently in a situation where needs, such as having a house, have become dreams.
Take Action Now!
- Speak up against companies that practice mass layoffs.
- Support organizations and movements that advocate for workers’ rights.
- Boycott companies that prioritize profits over their employees.
It’s time to stand together and fight back against corporate greed. Let’s cancel companies that engage in mass layoffs, and make a positive impact on the way businesses treat their employees. Remember, every small battle we win can lead to a better future for all workers.
I agree but the comparison to canceling a celebrity is not functional. You’re doing the thing where you’re thinking about a corporation as a person.
All so Bill Lumbergh’s stock will go up a quarter of a point.
It’s a systemic issue.
Specifically, American capitalism works on a legalized version of mafia model. A company gets “bought out” by private equity putting down a small fraction of the value and putting upwards of 85% of the debt on the company’s ledger, charge massive “management fees” (read: protection money) on top of this debt, and when the company isn’t able to compete with all this new overhead, they go bankrupt, and as the main “creditor” the PE company makes money off the bankruptcy.
So, while correct, economic cycles are a part of this too. Capitalism has always been a cycle of hiring and firing. My wife’s hospital she works at has had layoffs recently for God’s sake, a hospital. But nearly everyone has because indicators are saying it’s time to lay off and once one group does the odds others do goes up. People leave businesses for greed as well, typically in cycles (what they call a ‘labor’ market, when businesses are hiring, when firing it’s a ‘capital’ market). The last round of a labor market was huge, it’s just correcting back the other way. So yes these businesses are greedy but it makes just as much sense to a capitalist to say well then people that job hop should be blacklisted and unhirable. Just be careful what you wish for is all I’m saying.
Had some company meetings at the beginning of the year. Tell me if this sounds familiar to any of you.
1. At the beginning of Covid business started booming. We are healthcare adjacent, so duh.
2. Covid starts becoming a non-issue, and business starts slowing… again, duh.
3. Execs hit panic button, stop 401k match, push for automation and lay off a bunch of call center workers, and implement a bunch of new cuts.
Looking at all the graphs and models in the meeting, business is exactly where it should be based on growing about 10% annually. The outliers are the Covid years where things were booming. They don’t see it that way. They think we are dying.
Not a fan of cancelling. Overused.
I agree 100% but I also think people should be much more weary of who they work for.
What I have issue with is huge corporations netting billions in profits who supplement their business model with government assistance. Take Wal-Mart for instance, I’m not sure if this is still true today but I’ve often seen Wal-Mart is the #1 place government assistance is spent and the #1 employer of people receiving government assistance is spent. Publicly traded companies should have to pay a living wage. Layoffs suck, they turn people’s lives upside down. That being said, if everyone was paid fair wages layoffs would be much less impactful.
It’s not necessarily a result of greed, but it’s definitely a result of capitalism. We need worker power, not Scandinavian liberalism.
Yes
Agreed. We need to make it Not Profitable for them to do this.
If they lay people off we should penalize them for full salary and Healthcare for 2 years, and that money gets paid directly to the fired worker.
This would stop the parasite class from firing workers to increase short term profit.
Mass layoffs are the result of mass hiring during careless spending periods. You just only pay attention when the axe comes down and the company has woken up to the fact that it cannot afford all the bullshit acquisitions it made.
Layoffs should hurt.
So cancel the company and assure that everyone loses their jobs and goes on unemployment. This sounds like an amazing plan.
im being made redudent next week to cost save and streamline budgets in the current economy…i was on budget meetings and we have never had a bigger budget for the year also its a defense contractor we have record profits due to you know WARS
Okay. Start organizing. Set up dates for rallies in your neighborhood. Talk to your local town authorities to get a permit for protests. Nothing happens unless we meet together into a regulated mob.
I don’t know about canceling but companies that lay off employees while reporting steady profits should definitely be fined and ordered to distribute said profits to those they lay off. They’re actually using layoffs as a regular profit maximizing strategy.
Practically speaking, what does “cancelled” mean in this context?
Doesn’t the shame and social pressure of being “cancelled” required the person who is “cancelled” to care?
It sounds like you are describing a “boycott” and those very rarely are effective.