I experienced a painful layoff a few months ago, but I’m now thriving in my new role. My previous company, which was owned by private equity, abruptly dismissed our long-time CEO in favor of a new one who turned out to be quite manipulative. He replaced many of us who had built the company with his own circle of friends. Fortunately, I only spent two weeks unemployed, didn’t take a pay cut, and I feel secure in my current position. However, I still keep in touch with some former colleagues, and it’s disheartening to see that conditions at my old company have worsened. They’re facing another round of layoffs, and employees are being forced to reapply for their jobs under new titles or risk being let go. The only ones remaining seem to be the executives who can’t be fired due to their contracts, while those who truly understood the business have been pushed out. They’ve hired expensive consulting firms that are recycling old ideas that were previously deemed unworkable. Additionally, a marketing firm was brought in for a rebranding effort, but that project is now a year behind schedule. New hires are being brought on at lower salaries, only to be let go shortly after because the management structure has been stripped down to almost nothing, leaving no one to properly train them. Clients are canceling contracts, and the atmosphere is rife with backstabbing. While it’s sad to see my old company struggle, I can’t help but feel a sense of satisfaction knowing I escaped just in time.
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