It feels like the entire banking sector has adopted the position that laying off experienced and more knowledgeable employees is a really good business strategy. Instead of dealing with a bad decision made by management, everybody's knee-jerk reaction is to lay people off - and to lay off those who are doing the best work! When did this become a go-to solution for all problems?
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Of course, how else can these untalented managers make budget at keep their bonuses?
They only know how to cut staff to remain profitable.
Those high performing employees, through years of great performance and the associated raises, are not cheap. We can replace them (and lose loads of institutional knowledge) to save tens of dollars.
When they quit looking at employees as an expense. I actually made the company more money than they spent on me. Same goes for many of my co-workers and we were gearing up to do even more after spending years on gf and other mandates that you can't really put a dollar figure on.
when a hammer is the only tool in your managerial toolbox, all your problems look like nails.