Quote from Ndubuisi Ekekwe on April 3, 2024, 8:05 PM

Wow - we are all vulnerable in our careers these days. Amazon stock is up 21% Year to Date, and in the last 12 months, it is up 75%. Typically, when you have such movements, you would think that your entry pass is going to be working for a long time. But these days, cost cutting in the era of efficiency is part of the business playbook.

From Microsoft to Google's Alphabet, from Spotify to Facebook's Meta, and now Amazon. The ecommerce giant which fired 27,000 workers in 2023 has added more people in the unemployment market. Rethink your career! 

Yes, efficiency now means reducing the People within the People, Processes and Tools tripod upon which companies are built. The AI era will even make that self-evident as humans improve the Tools and Processes which will make them redundant and expendable!

Not to scare you: the very reason LinkedIn became useful was because companies could not guarantee lifetime employment. As a result of that, We The People revolted, and posted the once-classified resumes/CVs publicly for everyone to know that we're here.  Indeed, resumes/CVs used to be private and confidential, not anymore. It is what it is as the wordsmith, Chinua Achebe, explained: “Eneke the bird says that since men have learned to shoot without missing, he has learned to fly without perching.” Rethink that career!

Layoffs increased 7% last month to their highest level since January 2023, when technology companies were announcing massive job cuts. Once again, that sector is leading the latest cuts, along with government agencies. Job cuts climbed to 90,309 in March from 84,638 in February, according to outplacement firm Challenger, Gray & Christmas. Still, the total for the first quarter — 257,254 — is below the 270,416 cuts a year earlier, suggesting the labor market remains resilient in the face of the highest interest rates in 23 years. (LinkedIn News)