The rise of remote work during the Covid-19 pandemic has now brought about the rise of the virtual layoff. Last November, Meta laid off 11,000 workers, and its CEO, Mark Zuckerberg, delivered the news over a remote video call. In April, McDonald’s temporarily shut down its corporate offices and fired hundreds of employees virtually. Meta declined to send a statement, but a company’s spokesperson noted that the company has multiple locations in the world and cannot do all layoffs in person. The practice is leading to a public debate over layoff etiquette — whether giving employees the bad news is more dignified than locking them out of their email accounts overnight. “McDonald’s is teaching a master class in layoffs,” Jessica Kriegel, chief scientist of workplace culture at Culture Partners, told CNBC’s “Squawk Box” in April. “If I were getting laid off, I’d want to be laid off at home, not at the office.” McDonald’s declined to comment. Critics of the remote layoff trend say it lacks empathy and only favors the employer. “It’s lazy leadership,” said Nicholas Whitaker, former Google employee and chief well-being officer and coach for tech workers. “We’re talking about thousands of people’s lives that have been turned upside down. And it’s one of the most, you know, impactful moments in somebody’s career to be let go or to be laid off. It lacks humanity, an ethical and a moral component.” Watch the video above to find out how virtual layoffs have become a new workplace norm. Chapters: 00:00 — Introduction 00:53 — How remote layoffs became the norm 01:53 — The Big Tech hiring Spree 05:26 — Remote termination etiquette 08:30 — What's next Produced by: Anuz Thapa Narration by: Jordan Smith Supervising Producer: Jeff Morganteen Graphics by: Jason Reginato, Alex Wood and Christina Locopo » Subscribe to CNBC: » Subscribe to CNBC TV: About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC How Virtual Layoffs Became The New Normal For Workplaces...(read more)
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In the era of the COVID-19 pandemic, many workplaces have shifted to virtual models for remote work. Along with this change, virtual layoffs have become the new normal for companies. The shift in employment models has sparked a new era where virtual layoffs have become common, resulting in a loss in jobs and income for many employees. The primary driver of this new trend in virtual layoffs is the telecommuting model. It has enabled companies to save money on expensive overheads previously associated with a brick-and-mortar office. Instead, the requirement for remote work in response to the pandemic has allowed businesses to have a more flexible approach to their expenditures. The virtual layoff process typically includes the following steps: The employer first highlights the business's current position and then discusses the company's future post-layoffs. In the case of a remote office model, virtual meetings via video call are held to discuss the entire process. Once the company has decided to move forward with the layoffs, the process is set in motion. Notifications are then given to employees in the form of email, telephone call, or video call. The loss of a job in any circumstance is never easy. However, virtual layoffs can make the situation much more difficult for those involved. There is a detachment from the work environment and coworkers, making it more challenging to connect or feel empathy from others when receiving the news. Virtual environments also make it harder to process the decision—which is very important for employees who are struggling to come to terms with the layoff. Employers must maintain a degree of professionalism and empathy during the entire virtual layoff process. They need to provide comprehensive resources for their current employees with regards to next steps and how to deal with the challenge. Companies need to consider the personal circumstances of their employees, giving adequate support to those with financial obligations and those who may need access to mental health resources. In conclusion, virtual layoffs have become the new normal for workplaces in the present pandemic era. For employers, this new trend represents a cost-effective way to reduce overheads and maintain their financial health in the long run. However, employers must remember the importance of treating their employees with dignity, respect, and empathy, as the layoffs can have a significant impact on their lives. As remote work becomes more common, the way layoffs are delivered may change, but maintaining a human approach to employee treatment should be firmly anchored in any HR strategy. https://inflationprotection.org/virtual-layoffs-the-new-norm-in-workplaces/?feed_id=106037&_unique_id=648397f1ae1c6 #Inflation #Retirement #GoldIRA #Wealth #Investing #business #businessnews #CNBC #cnbcoriginal #Covid19 #economy #Finance #financialnews #google #jobsecurity #jobs #layoffs #McDonalds #meta #money #moneymanagement #newsstation #offices #pandemic #U.S.economy #U.S.layoffs #unemployment #virtuallayoffs #workplace #InvestDuringInflation #business #businessnews #CNBC #cnbcoriginal #Covid19 #economy #Finance #financialnews #google #jobsecurity #jobs #layoffs #McDonalds #meta #money #moneymanagement #newsstation #offices #pandemic #U.S.economy #U.S.layoffs #unemployment #virtuallayoffs #workplace
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