Today was another brutal day in the world of tech. Layoffs are becoming the norm, not the exception, in this industry. Meta just parted ways with roughly 10% of its workforce—about 8,000 people. Coming after multiple previous rounds of cuts, today’s news has left me reflecting on what these companies actually owe their employees.
I know few people are shedding tears for the “beleaguered tech worker.” Many are extraordinarily well-compensated, especially when compared to the average American. But that doesn’t change the reality that 8,000 people are now without a steady source of income. It’s stressful, it’s painful, and it can take a deep emotional toll on the people impacted.
I understand the business cycle, and I get that companies feel intense pressure to keep up with the expectations of Wall Street. I just wish they didn’t treat people as disposable assets.
Leadership has a responsibility to the people they employ and to their families. Executives should weigh that responsibility heavily before setting hundreds of billions of dollars on fire chasing AI superintelligence, “pivoting to video,” or whatever the next trend might be. If you are going to make those massive bets with human livelihoods on the line, you had better be right.