All these layoffs got me thinking, is there such a thing as job security any more? Not just at T, but in general? When I entered the workforce 20+ years ago things were different. Yes, there were still layoffs but they were not a constant. Most of the time we didn't have to worry about losing our jobs. Now it's the opposite. I'm worried about my job 24/7/365. What changed to make things so much worse?
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Leaving aside all the racism regarding H1B visas, the simple fact is that anyone in a publicly traded company - well, anyone other than the senior executives - is at risk of being laid off at any time without any actual reason, just to be sure that the big investors see a return on their investment.
So today companies will immediately resort to layoffs at the first sign of trouble. And the more mismanaged a company is, the more they will resort to layoffs because they see trouble more frequently. T is a perfect example.
I was laid off a couple of years back, and landed at a non-profit. Guess what? No layoffs. No off-the-cuff firings either. In my 2+ years there has not been a single person who has left involuntarily without cause. This place has nearly 500 total employees and there hasn't been a single layoff because of management forkup.
I cannot tell you just how important that is to my personal well-being and my feeling of security regarding employment.
Unregulated H1b visas and unregulated overseas workers who cater to US population + automation which means in the future probably close to 50-60% will be that. They do not have this problem in Asia thats for sure. You cater with US consumers, you hire people from that area. I know, I know... you gotta have a profit of 150%.
It’s called outsourcing/insourcing. It’s a great way to get rid of the 40 year old + ladies at the office and replace them with 20 something year old males without getting sued. Notice, we haven’t seen any demographics on any of these mass layoffs in the news.
If you are in Tech/Telecom industry and do not work on the physical backbone of the network AI is coming for your job very soon.
Your correct. Those days are over for good. Some people are very fortunate to leave on their terms or with plenty money in pension and/or 401k. Everyone else is screwed and will be required to work til death.
Corporate worker job security faded in the 70s. The loyalty is to the stockholder and executives, whose pay is tied to stock options. The worker is just an expense that stockholders want to see reduced to realize more gains for themselves. The longer you stay with a company, the more you risk being fired due to your increased compensation. Workers have no protections, and outsourcing is always an option. The most you can hope for in terms of longevity is to be in a profitable business unit, be likable and increase your corporate network. Human capital is easily replaceable.
Trades have job security. As I look back on my life, I think about how I was interested about 15 years ago in getting into HVAC. I regret I did not do that. People will always need those that can do real jobs. Plumbing, welding, electrician, HVAC, nursing....yeah, pretty much all of those fields are guaranteed. Not glamorous, but high paying and necessary.
Companies today do not want lifers. They will give you three years, then kick you to the curb. The days of "cradle to grave" jobs are over.
In our industry, it’s been this way for a while now. I don’t think it will change. Technological advances, innovation, economic impacts, etc., will play a constant in job security (IMO). There is a lot of competition out there, and there will always be leadership in companies that make bad business decisions that ultimately affect those that work for the company; some good decisions, and some bad. We are just in one of those bad decision times.
This is all just my opinion of course.