Found this article, it is such a good read, this is what happened in C1. I hope management will learn some lessons.
How Layoffs Hurt Companies https://knowledge.wharton.upenn.edu/article/how-layoffs-cost-companies/
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I agreed to provide my skills to an employer in exchange for money and not to be tormented, m0lested, and tortured.
The shareholders love it.
Think about the system you live in. It's not a fair system and you have agreed to it.
Layoffs disproportionately impacts older workers, women, dsabled, and other protected classes such as race.