I wonder what hidden benefits there are in these layoffs. Sure, companies lose skilled staff and nominally taken a hit in overall corporate output.
On the flipside, people work twice as hard, eager to show their worth. That may be the cynic intent behind these industry-wide layoff. Scare the crap out of everyone and make them do the extra mile.
Fear isn’t a good long term strategy though. If your culture is fear driven, engineers will be less likely to join, or you will attract certain kinds of engineers. When operating on survival mode teams will switch from collaboration to competition. It can become really bad really quickly.
On the flipside, people work twice as hard, eager to show their worth. That may be the cynic intent behind these industry-wide layoff. Scare the crap out of everyone and make them do the extra mile.