Loyalty is a two-way street

LinkedIn is cutting more than 650 jobs. The Oakland-based, musician loved band camp is being gutted by a 50% layoff. Paramount is shutting down all sports coverage by the end of the year, bringing an end to more than 37 years of telecast featuring some of the biggest names in combat sports. Ford has announced the layoff of 700 workers who were part of the team building electric versions of the pop your F150 pickup truck. Stack overflow lays off more than 100 people as the AI coding boom continues. The Wells Fargo CEO has raised the possibility of further layoffs in the future in addition to branch Closings. The headlines involving further layoffs continue throughout the year. The headlines indicate that more people are going into the gut-wrenching process of tightening family finances and looking for jobs in an increasingly competitive workspace. On occasion, layoffs are required. This has seldom been the case with the layoffs that have been reported thus far in 2023. How many of these companies took the time to properly identify the core problems they were facing? How frequently did their management look at the market and identify where the unmet customer demand was? Loyalty is a two-way street. No company can survive without retaining its top talent and continuing to pull in more talent as it grows. More often than not, companies forget this principle when making key decisions. Excess capacity, which includes all resources starting with manpower, is the fuel for your growth. These same companies are no longer in a position to expect loyalty from remaining employees. That is a precarious position for any company to willingly put itself in in order to appear more financially viable in the short term. Employees expect better from their executives, share shareholders should demand it.