Upper Management Layoffs? Fat Chance.

I have been working in the corporate environment since I was in my early twenties and I've been through many acquisitions and have even been laid off myself, but one thing I rarely saw was upper management suffering through a layoff. Fat salaries stand a fat chance of being laid off. Why? Because they're the ones in charge! If you don't think there's "old boys/girls club" at the top of your organization, than you're clearly mistaken.

I have seen pharmaceutical companies run by men, where upper management takes care of one another, and I've seen medical device companies run by women where they do exactly the same. When layoff comes around, the officers, regardless of gender, seem to be content to stay in their tents and let the casualties of their "soldiers" pile up. I hate to use the war analogy but during this pandemic we are essentially at war against the virus, and it seems like few of the upper management in many companies are willing to "take one for the team".

There have been layoffs at Walmart, Berkshire Hathaway, Cisco, 3M, Salesforce, Comcast, and AT&T during the pandemic all while turning out huge profits for their shareholders. I didn't see one of the senior officers from those companies taking even a pay cut. WTF? Guess what people? We are not all in this together, in fact, I would argue that the soldiers who are getting laid off, losing their houses, and their very important insurance benefits are fighting this battle alone. Despite all the promises not to lay off people, corporations are still continuing with layoffs. Not because they're losing money, but because they aren't making enough profit for their shareholders! Think about that...while people struggle to pay bills, corporations are doing their best to pay dividends. Corporations are not socially conscious or socially responsible, they are fiscally conscious and responsible to their shareholders. Despite the fact that it is their employees that make them so successful. That is some first class BS!

If all these companies fired officers or if their officers took a pay cut, they could save thousands of jobs, not hundreds, but THOUSANDS! In turn, the companies would still reap the rewards of reduced costs, and bolster their reputations in the market place. Unfortunately, that is not going to happen. Why? Greed, plain and simple. And despite what Gordon Gecko might say, greed is not good.

I feel for all the people who are out of work, and yes I too have taken a pay cut. It's been tough for all of us, but it would be a lot easier if we all shared in not only the profits but in the losses as well.

My best to everyone and please do your best to stay employed, stay strong, and stay safe.

-SFTD