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I slowly laid off 60% of my colleagues on Wall Street (efinancialcareers.com)
3 points by Anon84 on Aug 16, 2019 | hide | past | favorite | 1 comment


>"regular layoffs are necessary for this ecosystem"

>"I try to be as unemotional as possible"

Allow me to propose that a corporation shouldn't be structured in this way. Obviously a large bank is operating with a much more complex business model when compared to a small business that unclogs people's toilets, but the plumber's business should in theory not require any layoffs. It should be possible for a lean team to operate forever in a very humane manner.

Instead we have this pooling of capital and contracts in the hands of inefficient mega corps. The corps scoop up pretty much any worker they can when times are good, and then lay them off arbitrarily when the managers need to meet some KPI.

This is inherently unhuman and a waste of time and money. The laid off workers would normally be able to go innovate and start their own shop, but the big corps have locked up all the contracts and clients.




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