Is this it? The company I work for (Peloton Interactive) had another round of layoffs yesterday. I was personally spared, however many members of my team were let go. And many good people I know were impacted as well. We join the ranks of many companies reducing their workforces. In this challenging time I was reflecting on the past two years in the employment marketplace and how this trend has continued, typically followed by stock price bounce backs. It's a tough time for companies all around. It's an even tougher time for the work forces who keep these companies running. Yesterday I sat in a meeting, with a leader I truly respect, who was crushed by the amount of tough conversations she was tasked with having with people being let go. And I couldn't help but ask myself - "Is this it?" Is this the best way? Am I expected to deal with situations like this for the next 30 years of my career until I retire? Are my peers? Are we all expected to continue to prioritize the profitability of companies/shareholders over the individuals who keep those companies running? It just seems odd to me that this is where we've landed as a society. It's totally rational that this is happening because this is the way we've all decided for profit companies should run. But should they? I'm not going to sit here and pretend I have an idea for a better system. I'm not an economist. I'm not going to talk through the financial implications of not doing these layoffs. I understand they're necessary to keep companies running. All I'm saying is, I wish there was a better way. #layoff #mentalhealth
It’s all so very soulless.
Felt this one. Thinking of you and the team. Hope everyone can find their way to discover "more."
Thank you for being so raw, especially on a social forum Andrew. Unfortunately, I too have been in your shoes. Here to chat if you need anything. Hoping this is the last of it.
Hey Andrew, thinking of you and your talented team.
The short answer; there is a better way. We’ve always proven that we can find better solutions. The real question is; are we brave enough to explore and implement those better options?
I was let go while in the middle of planning two major events for our mental wellness ERG. The first event happened a week after my role was terminated and the next will be happening over the course of this month. It's odd having unfinished work proceed without you, and then being barred from attending events that you planned so meticulously for months, especially when the nature of these projects were mental-health focused.
so well said and couldn't agree with you more. appreciate your openness here - it's true leadership to be vulnerable and acknowledge when things are hard and we don't have the answers.
One thing is constant and that is change! As for working for a companies profit, there is always self employment, running your own business. Change is going to always happen. In Peloton case the pandemic is over so people want to get outside. Look at all the used RV's for sale now because people are back to flying. Restaurant's come and go because people taste change. I am guessing in five year the pickle ball craze will be over. Layoff's suck, but people have to learn to put themselves first.
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7moIt's horrible for the people let go...but most people aren't talking about that it is also really tough for the people left behind! Not only are teams ripped apart often without any warning, but dreams and future plans are disrupted and even fully cast aside. The work piles on those left behind and it's miserable and really hard. Been dealing with multiple rounds since Jan 2023 and I'm ready for it to stop. Don't get me wrong...I'm happy to have a job. It's just not the one I thought I had nor the vision I was working toward. Hoping the tide will turn soon.