How do you ensure job security in a hard economic situation like this?
No job is secured except the one you created for yourself. These days, even the government are cutting costs by reducing the workforce in public service. The job market is not predictable, so we just need to be ready for the worst.
Now, for a company like Amazon to be laying workers off, and they're not the only one considering layoffs. Many companies want to reduce their workforce to save money. Personally, what does this mean for you?
It means that I should seek other sources of income and learn new skills sets. You cannot stop a firm from downsizing but you can prepare for it.
For me, even with these layoffs, not everyone will lose their job. Amazon and other companies will keep valuable employees. This means that wherever you work, you must constantly improve yourself and give value unless you don't like your job and want to leave. Being valuable ensures job security, even in tough economic situations like now. If you're indispensable, companies won't let you go easily.
Yeah, you need to improve yourself and be relevant to the organization. But you should know that no worker is indispensable. If your work can be performed by a robot or an AI machine, you will lose your job no matter how effective you are. Entrepreneurs don't care much about your input, all they want is to cut costs and make more money
Does knowing about layoffs make you want to avoid corporate work?
Everybody will not be business owners. Starting and running a business is not an easy task, and not everyone will want to engage in it. I will keep diversifying my skills to increase my chances of getting jobs. However, this increase in layoff is motivating me to become self-employed.