For a while, employers were taking lessons learned during the pandemic to heart, charting a new course, and going the extra mile to support employee well-being, employee engagement, and employee satisfaction in the workplace. In recent months, some employers appeared to be taking a step back.
The job losses in Big Tech began last year, with a round of layoffs in just the first week of December alone costing over 200,000 employees their jobs. Over the first month and a half of this year, that wave of layoffs only grew. Yahoo laid off 20% of their staff, Zoom 15%, and GitHub 10%. Although Google's overall cuts were smaller at 6.5% of its workforce, Google-backed ShareChat laid off 20% of its staff.
Explanations for the sweeping layoffs varied. Some companies cited over-hiring during the pandemic. Others blamed economic headwinds and supply-chain issues. It is important to keep in mind that the tech sector accounts for only 2% of the American workforce. Overall employment numbers have been strong.
However, for decades, tech has been both a trendsetter and a bellwether for the rest of the economy. It is not just the scope of the layoffs but how they were carried out that raises concerns. Many employees found out they no longer had a job by email or on social media. This creates bad will and distrust amongst those directly affected and leaves a wake of anxiety among those who remain at the company.
Big Tech has often led the way in promoting health and wellness. Google was one of the first companies to recognize the importance of psychological safety. Tech companies have also been leaders in expanding parental leave, especially during the pandemic. However, being on parental leave is no protection against losing your job, andbeing on parental leave could have a"sobering effect.
Tech is a high-pressure sector. But one cannot claim to be a leader in well-being while allowing burnout to fester. The situation is particularly worrying when it comes to women—who in the previous study reported feeling"run-down and drained of physical and emotional energy" at the end of a workday.
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