The season of employee layoffs began en masse in many large international corporations, to revive those mass massacres of memory that took place after the outbreak of the Corona epidemic and the closure of the borders of most countries of the world, their markets, factories and manufacturing institutions.
What is happening in this time of mass slaughter of employees within large corporations is a microcosm and evidence for what could happen within Western institutions, and also within the business sector and corporations in general. , in the next period.
With rampant price increases, some economies entering stagflation, rising production costs, especially energy, and falling profits will push business owners to put pressure on fixed expenses and reduce expenses to avoid falling into the trap of bankruptcy, and the first element these wealthy employees think about, the weakest link within any economic institution.
Elon Musk fires about half of Twitter’s employees, or about 3,700 employees, claiming the company has made daily losses of more than $ 4 million.
In the past few days, dozens of IT companies, banks, financial institutions and major real estate companies have carried out mass layoffs.
We saw it clearly at the social media giant, TwitterAfter winning the $ 44 billion purchase a few days ago, the billionaire decided Elon Musk The firing of about half of Twitter’s employees, or about 3,700 employees, claiming that the company has made daily losses of more than $ 4 million.
Musk has also fired a number of senior executives who he accused of misleading him on the number of spam accounts. Twitter has fired its employees in many countries around the world, including India. The massacre prompted the United Nations, on a rare occasion, to step in and ask Musk to stop it.
The scene repeated itself in the social networking giant Facebook, which this week began its biggest employee layoff campaign, said Mark Zuckerberg, CEO of Facebook. Half The owner of the site on Wednesdays, if The company will lay off approximately 11,000 employees It has the pretext that its shares have lost 73% of its market value and revenues have fallen dramatically.
The massacres of employees have extended to large companies and international banks, as the American giant Morgan Stanley has announced the beginning of a new round of layoffs to reduce expenses.
Facebook decides to lay off about 11,000 employees, under the pretext of losing 73% of its market value
Citibank, one of America’s largest banks, has already begun to lay off numerous mortgage workers. The Open Door announced Open door He announced a plan to reduce the workforce by about 18%, as the US housing market slows due to rising costs.
And it is repeated in large US IT companies, as Apple intends to slow growth in hiring and spending in some units to overcome a potential economic slowdown.
Microsoft has cut some positions and fired employees as part of the reorganization, while companies like Netflix have been firing employees in recent months.
SWVL, the Nasdaq-listed smart mass transit startup, plans to lay off 32% of its staff in an effort to transition to positive cash flow within the next year.
Entrepreneurs are motivated by purely financial reasons from behind Mass layoffsthey want to maintain annual profit levels even if it goes so far as to lay off half the employees, like Twitter did.
They don’t care about destroying the lives of employees and their families, all they care about is maintaining their bank balances and even raising them by billions of dollars.
