To: Prime Minister
Stop redundancy during record profits
Make it illegal for businesses to reduce head count whilst making record profits.
Why is this important?
In the organisation I work for, we have made a record profit for several quarters in a row. And without fail there is a round of redundancies made. Often under the guise of "we need to reduce head count."
This sickens me as it leave me wondering "where is the money?" If we've made a record profit, why are we cutting costs in staffing? Surely pay everyone at better, not C-Suite, and everyone can work that little bit less? Why this draconian need for a performative work environment?
I come back around to my thought of where is the money. Either we were not in as much profit as we said or it isn't actually profit (e.g. payroll hasn't been deducted from those numbers). I know friends who have been at various banks, technology institutions who were let go after an immensely successful financial year under this cutting costs guise.
It's time this practice was made illegal - in a similar manner to fire and rehire - people should be able to feel that their job is safe when the company isn't in dire straights, not to be constantly looking over their shoulder every time the results come out.
This sickens me as it leave me wondering "where is the money?" If we've made a record profit, why are we cutting costs in staffing? Surely pay everyone at better, not C-Suite, and everyone can work that little bit less? Why this draconian need for a performative work environment?
I come back around to my thought of where is the money. Either we were not in as much profit as we said or it isn't actually profit (e.g. payroll hasn't been deducted from those numbers). I know friends who have been at various banks, technology institutions who were let go after an immensely successful financial year under this cutting costs guise.
It's time this practice was made illegal - in a similar manner to fire and rehire - people should be able to feel that their job is safe when the company isn't in dire straights, not to be constantly looking over their shoulder every time the results come out.
