News of layoffs and heartbreaking story of those fired from their dream jobs could trigger anxiety in the mind of an average employee. Tales of professionals being fired two days they travelled abroad for the job, and women on maternity leave left jobless, among others are flooding the online space. Being concerned about the future during layoff season could affect productivity, so instead of constantly looking over ones’s shoulder, it’s better to watch out for red flags.
So far more than two lakh people have been laid off in the tech sector, and the job cuts have also spilled over into fashion with H&M and media with Disney. New age digital startups such as Oyo, Byjus and HealthifyMe have also started firing employees, signalling the arrival of the layoff wave on Indian shores.
In turbulent times, here’s how professionals can spot the layoff storm from a distance.
Top management reshuffle
If top executives are exiting the company and a restructuring on the cards for the firm, it can be an indication of job cuts to come for reducing costs. It’s also time to check whether you are a part of the team which might be downsized first to slash expenses.
External forces become more visible
If more senior managers leave and external consultants start monitoring operations or calling the shots, some major changes are bound to come. These changes may not be in everyone’s favour, and it may be time to reevaluate future options.
Financial crisis and cost cutting
If the company suddenly increases cost cutting measures from the pantry to stationeries, these small hints might be a good reason to look up the company’s finances. This could help employees to avoid being hit by layoffs out of the blue.
Keep your ear to the ground
Apart from whispers and theories about possible layoffs at the firm when the sector is affected, read the behaviour of colleagues and managers. Cold shoulders from coworkers, being left out of meetings and less communication from managers could be ways to set up an employee for an exit.
Frequent performance reviews
Although some tech firms such as Meta have taken responsibility for layoffs, others such as Google have used performance issues as justification. If employees are being asked to submit weekly performance reports, this could mean that the firm is evaluating the workforce ahead of a layoff.
Although spotting these warning signs won’t help anyone avert layoffs, but it can allow professionals to look for other opportunities to avoid being left unemployed.
