The year 2023 has begun on a bad note for tech workers globally. Tech Mahindra Former CEO Kiran Deshpande shared his advice on the same issue.
There have been nearly 91 companies that have laid off more than 24,000 tech employees in the first 15 days this month. More than 1,600 tech employees are being laid off per day on average in 2023 globally including in India.
Former CEO Kiran Deshpande formally commented on layoffs as many Tech companies including Google, Microsoft, Salesforce, Meta and Twitter have either retrenched employees or sacked many employees.
Tech Mahindra Former CEO Kiran Deshpande shared his advice on Layoffs through a LinkedIn post saying, “Current layoffs by giant #technology#corporations have sent shock waves around the world. Stocks have gone up while employee morale is low. #people feel for their colleagues who have disappeared overnight.”
The Key issues according to him are:
1. Over #hiring that leads to layoffs when chips are down
2. Stakeholders only mean shareholders!!
3. Brutality of layoffs
“Frugality in running a #technology business even when it is ringing money is critical. The effectiveness of software people these days is crucial. For example, suboptimal output by the Indian #software community is often hidden behind the cost arbitrage. #ceos must address this right away else a nasty fall or serious injury is not too far away”, the post added.
“Boards and #ceos of global industry giants must recognize their social responsibility. It is time to ask them questions about their roles and responsibilities beyond shareholder value. And it can’t only be the country where these corporations are headquartered. Governments and lawmakers around the world must get their arms around this issue”, the post further said.
“The job of a CEO is tough. You don’t get all things right all the time. #hiring may go overboard but #firing doesn’t have to be so uncivilized. I reckon companies have given good severance packages. Don’t give any notice period but speak with the people before walking them out. Minimum courtesy, please!”, the post added.
