#MassLayoffs

[optimizedcuriosity]

Workforce Paradox : Corporate "Loyalty" and Employee Disillusionment.

- When "We're Like Family" Means Unpaid Overtime -

Hey there, fellow corporate survivors! 👋 Let's dive into the wild world of workplace loyalty, where companies expect us to bleed their brand colors while we're just trying to make ends meet. Buckle up, because this rollercoaster of corporate expectations vs. reality is bumpier than your manager's attempt at "casual Friday." The Loyalty Demand: A One-Way Street?

Picture this: companies are out here acting like they want a long-term commitment, but we're not feeling the love. A 2023 PwC survey found that 61% of executives believe customers (employees?) are more loyal now than before the pandemic, and 70% of employers are budgeting for pay to remain the same or higher in 2024. Spoiler alert: this is not the way...and we definitely aren't here for it.

The Employee Reality Check

While the higher-ups are feeling optimistic, here's what's really going down:

Only 20% of consumers agree that loyalty has increased since the pandemic (Shocking, right? Who really wants to buy from people that don't support...well...people.)

A whopping 92% of employers are preparing for layoffs in 2024. (Nothing says "we value you" like job insecurity.) (Also a life update and congratulations to me for being a part of a round of layoffs. I was thinking I was underpaid already, but boy does the reality get worse without the job...)

The average salary increase for 2024 is a modest 4%, down from 4.4% in 2023. (Inflation who? Also, that more than what they gave me last year. I got 3% lmfao)

Why We're All Feeling a Bit... Meh

1. Stagnant Wages: The Never-Ending Budget Dance

Remember when we thought we'd be living large by now? The wage gap between actual earnings and what we should be making (based on a 3.5% growth since 2007) is $2.38 per hour as of July 2024. That's not exactly living the dream, is it? Don't even get me started on being sold an education path to getting to this point.

2. Mass Layoffs: The Corporate Shuffle

2022 was the year of "restructuring" – right out the door. Major players like Meta, Amazon, and Twitter showed us the true meaning of "it's not you, it's me" with significant layoffs. And 45% of employers are blaming "economic uncertainty" for tightening those purse strings.

3. Corporate Greed: The Ultimate Glow-Up

While we're watching our pennies, CEO pay has grown a casual 940% since 1978. Worker compensation? A modest 12% increase. Talk about a growth disparity.

The Culture Con: Promises vs. Reality

Companies love to dangle the "amazing culture" carrot. They promise:

Work-life balance (but expect you to answer emails at all hours and unlimited PTO that isn't actually unlimited or PTO.)

Diversity and inclusion (look, we have a ping pong table!)

Employee recognition (here's a gift card for your 5-year anniversary)

Open communication (please fill out this anonymous survey but somehow your manager knows you're the only one to not answer.)

Corporate social responsibility (we tweeted about Earth Day!)

But let's be real, 74% of employees see the link between culture and customer service, yet only 19% strongly agree their manager explains how company values affect their work. It's like they're speaking corporate, but we only understand human.

The Benefits Bait-and-Switch

Companies are trying to win us over with benefits, but they're not quite hitting the mark. The OneDigital Employee Value Perception Study spilled the tea:

56% of us are one surprise bill away from financial panic ( I have a month at best)

25% are eyeing their 401k like it's an emergency fund (that give me 2 months)

35% are practically begging for financial guidance (or just better pay?)

Yet here we are, getting "free" coffee instead of financial planning. Thanks, I guess?

The Loyalty Lowdown

All this corporate disconnect is taking its toll:

Only 20% of us are passionate about our jobs. (The other 80% are passionate about... well, not work.)

57% of Gen Z Americans are less loyal to brands now than pre-pandemic. (Can you blame them?)

Only 53% of consumers even bother with loyalty programs. (Points for what, exactly?)

Bridging the Gap: A Novel Concept

So, how do we fix this mess? Here's a wild idea: companies could try... actually caring?

Fair Pay: Because exposure doesn't pay the bills and your executives are too busy chasing corporate clout.

Transparency: Less corporate speak, more honesty.

Real Development: Not just another online certificate.

Authentic Culture: If I hear "we're like family" one more time...

Financial Support: Because adulting is hard and expensive.

Wrapping It Up

Look, the corporate loyalty paradox is real, and it's messier than we'd like to admit. Companies need to wake up and smell the coffee: loyalty is a two-way street. It's time to put their money where their mouth is and create workplaces that don't make us want to update our resumes every other week. We only remember those that actually walk the talk, not just run their mouths. Remember, we're not asking for the moon here – just a fair shake, some genuine appreciation, and maybe a salary that keeps up with inflation. Is that too much to ask? (Spoiler: it's not.) Stay strong out there, corporate warriors. May your coffee be strong and your meetings be short. Sources:

[1] https://insightssuccess.com/measuring-the-success-of-your-company-culture-metrics-and-tools/

[2] https://inmoment.com/blog/the-importance-of-employee-loyalty/

[3] https://www.davron.net/how-benefits-and-company-culture-can-attract-and-retain-top-talent/

[4] https://ftexecutive.com.au/creating-a-workplace-culture-that-fosters-employee-loyalty/

[5] https://www.frontiersin.org/journals/psychology/articles/10.3389/fpsyg.2022.971569/full

[6] https://teamstage.io/employee-loyalty-statistics/

[7] https://www.gallup.com/workplace/327371/how-to-build-better-company-culture.aspx

[8] https://www.onedigital.com/blog/employee-value-perception-study-underlines-benefits-satisfaction-gap-at-various-life-stages/

[wnewsguru]

विवेक रामास्वामी ने 75% से अधिक लोगों को निकाल दिया, एफबीआई और अन्य प्रमुख एजेंसियों को बंद कर देंगे

[saracausey1]

[anamikajain]

New Video Alert!! Watch the full video if you want to know what the recession is, how the recession will affect 2023, and many more things.

[xquiziteagency]

🤑🩸Subway Shutdown Shocker : 😳Thousands Left Jobless Overnight Without Warning or Pay🩸🤑

Subway Shutdown Shocker: Thousands Left Jobless Overnight Without Warning or Pay! The sudden shutdown of multiple Subway locations in our region has left thousands jobless without warning or even the pay they earned. It’s a harsh reminder of why you should never put all your trust in one company or rely solely on one job for your livelihood.

https://youtu.be/KIp1c4Godnw?si=HCFG49H1FS3Z6dE2

#SubwayShutdown
#JobLossCrisis
#NoWarning
#UnpaidWorkers
#EmploymentCrisis
#ShockingNews
#WorkplaceRights
#MassLayoffs
#EconomicImpact
#BreakingNews

#Devastating

[news247worldpressposts]

#Breaking: #JennyCraig is reportedly winding down its weight-loss centers and warning of #masslayoffs.

Jenny Craig is reportedly winding down its weight-loss centers and warning of mass layoffs https://t.co/ZnPwUgFVpE pic.twitter.com/K5xYWRJgJ3 — CNN (@CNN) April 30, 2023 Source: Twitter

[h1bvisatransferus-blog]

https://www.h1btransfersusa.com/blog/as-layoffs-continue-google-freezes-key-green-card-process-for-workers/ As if the news of mass layoffs at top tech firms wasn't causing anxiety enough for Indian techies working in the US. #masslayoffs #h1blayoff #employerspnsoredgreencard #greencardprocess #googlelayoff #PERMapplications #PERMfilings #PERMregulations #usworkers

[kanikamitra-blog]

Whom to Blame for Recession in India?

Do we imagine a developed India, The India of our Dreams? But have we ever wondered that are we going forward to the state of development or are we not going back towards under-development. We talk about literacy, we talk about education and we talk about jobs. We always believe that if we fall in the majority of literate people then someday we will have the India of our dreams and desires. We hope that someday poverty will leave this country, when there would be enough job opportunities within the boundaries of our own country: INDIA.

Let us get on the track of practicality now. Let’s say, you have a bunch of degrees that are more than enough to prove your skills or let us assume that you already have a fair experience to justify your skills but you are still struggling to get a job that you desire for? Then, what would be your state of mind or what do you expect from the government of The Incredible India? This is what the masses is struggling now with in our country. Most of the big software firms have already taken steps for mass layoffs and the people who are the so called business class are facing the financial crises or the lack of revenue circulation. In simple words, we can directly claim that the market is down and this is the time of recession.

The BJP government before the elections claimed that there would be more opportunities for jobs and the situation will improve but the future hopes now seems to be almost dead. After the decision of demonetisation by our dear Prime Minister Narendra Modi, the industry took a great turn. The rich is not affected at all. The poor was struggling before for the survival and still the poor is the same but the middle class has gone under a huge trouble.

A study by the All India Manufacturers’ Organization (AIMO) reveals that micro-small scale industries suffered 35 per cent jobs losses and a 50 per cent dip in revenue due to Prime Minister Narendra Modi's demonetisation drive. This was not all, there were several industries that suffered huge losses after this. Here are some of the effects that states the financial trauma that is being faced since demonetisation.

Mass layoffs

Various IT firms have gone through mass layoffs, some were due to financial crises and some were the result of technological shift. Reason may be any but where will these people go to earn their livelihood. How can people in the count of thousands may get jobs that too for similar industry?

Decrease in salary packages

This is something that is faced by most of the people. Lack of revenue has resulted in either layoff or decrease in salary. One of my close friend use to earn 25k per month 5 years back in the real-estate sector. Then this guy gradually improved and earned huge benefits and incentives till the end of 2016. Now since demonetisation, he was facing financial issues and now after so much struggle, he is again hired for 25k after 5 years. So, the growth and improvement that he had undergone in these 5 years is simply dumped. The companies are not offering the handsome amount of salaries but companies are running low on budget so it’s not their fault if they are forced to offer less.

Lesser vacancies

vacancy, a necessity to get hired. If a firm does not require an employee how will I be getting a job? 1 year back, it was quite easy to get a job but now the situations are worst. Some startups and small firms are vanished overnight. So, getting a job as a fresher is a nightmare now. I myself struggled for 3 months to get hired. Even though I have 3 years of experience and previously it was quite easy for me to get a job but now the companies were not willing to pay. This was just about me. There are still thousands of people who are skilled and still struggling for what they deserve.

Apart from this, the business class, the telecoms sector, the real estate industry and the complete market is still under the effect of financial strain. And what’s next? What are we having in plate to offer to our offspring? Can we expect some better situations for near future? Do we have any hope from the government of India?

[vfxexpress]

Effect of Covid19 on the VFX industry -Mass layoffs, critical financial situation, lack of communication

Effect of Covid19 on the VFX industry -Mass layoffs, critical financial situation, lack of communication

Mass layoffs, critical financial situation, lack of communication, fear of getting a job, how long this will last? How to have clarity of this situation?

        As we all know we are going through by far the most difficult times in our lifetime. Lots of chaos, lots of misinformation, lots of misunderstanding, lots of fear, lots of anger. Visual effects artists and studios around the world are…

[crownofviserys]

Minimum wage in Canada is going up? Why not get rid of employees? #mcdonalds #happymeal #masslayoffs #fuckhumans

[h1bvisatransferus-blog]

https://www.h1btransfersusa.com/blog/how-eb-5-visas-could-be-the-fastest-route-to-get-us-residency-amidst-a-long-h-1b-visa-waiting-period/ An estimated 25 percent of U.S. tech jobs are held by immigrants, while Indian nationals made up about 75 percent of all H-1B work visas in Federal FY 2021. #EB5visas #EB5petitions #EB5reform #h1bvisas #h1bworkvisas #longh1bvisawaitingperiod #masslayoffs #talentedworkers #visastatus #visaoptions