Research In Motion sacks 2,000 people to placate antsy investors. When the markets open, instead of congratulating the company for tightening its belt and driving change, they continue the selloff.
By day's end, the share price sinks another 4.5%. I'm guessing they weren't convinced. I'm also guessing there's at least another round or two of layoffs and reorgs before the street is happy.
I'm also guessing if you're among the 89% of employees not receiving pink slips this week, you're already allocating most of your workday to updating the resume, kickstarting the network and seeing what opportunities are out there. Investors never seem to care about the human costs of so-called streamlining, rightsizing or any other euphemistically named actions that destroy communities and lives. Six months from now matters little to the short-seller.
Welcome to the age of management-by-outsiders, folks. Fun, isn't it?
It is the age of expendable labor. Very few of us in the everyday world have any illusions about our ultimate status with our employers...replaceable.
ReplyDeleteThe greatest loss of my working life has been the end of loyalty between employer and employee. Cut-throat investors driving hatchet-men management changed everything.