> Fast forward a few weeks and we had the data to show productivity actually went up by a full 8 hours/week. We allocated huge budget to ramp up hiring in orgs seeing a big increase in demand for services. We had great pandemic response team and good communication with health departments worldwide.<p>> There were multiple leaks on Reddit (which is where I got the early wind of these planned industry wide layoffs) where hedge fund employees and staff were talking about dumping as high as 300-500K tech employees over year to put serious pressure on wage growth.<p>> This last part is where I have heavily retracted my story. I wish I could tell you how little some senior leaders care about their employees. I wish I could show you the pictures of the partying.<p>More and more proof that loyalty is dead, and that companies killed it.
ChatGPT summary:<p>This post discusses the events leading to mass layoffs at a company in 2023, divided into three parts:<p><pre><code> Early Pandemic: The company faced challenges when the pandemic hit in March 2020. Leadership worried about productivity, resource allocation, and employee morale. Measures were taken to support remote work.
Hiring Boom of 2021-22: Strong sales led to optimistic growth projections, but some questioned their sustainability. Many tech companies engaged in aggressive hiring.
The Downfall: Factors like rising costs, advancements in AI (specifically OpenAI), and declining revenue, especially in PC and Xbox sales, prompted layoffs. The author criticizes the lack of empathy and transparency in leadership.
</code></pre>
In conclusion, the post reflects disappointment in the company's leadership, particularly the CEO, citing previous issues and highlighting a perceived lack of empathy in the corporate world.