The fact that six others besides me were let go yesterday tells me there is some serious shit going on at FS head office in Vancouver. My whole (former) department has been gutted. Poor planning and poor judgement have caught up with them and we're the latest victims. And all they kept were twenty year old kids and inexperienced part-timers. Morale of those remaining will be shit. Good luck to putting on a happy face for those customers coming through the door.
That's what happened at my last job. Years of missing budget targets, investing in a doomed product, failing to engage with market trends, and holding onto subpar personnel really hurt them. They (the investors) brought in a new CEO, one of the slash-and-burn types whose job it is to cut the company down to a profitable state. They canned about a third of the company through a series of RIFs, though there was one big one, and that's the one that got me.
The company really needed a lot of the people that were let go. Some were brought back as contractors. Some told the company to fuck off. Various people left on their own. Morale was very poor, as people had to pick up the slack of those who'd been released, while worrying they could be next on the chopping block.
It's been about four years, now. The new CEO is out, and one of the original founders is back in. Some of the people who'd been let go or left have gone back. They say it's not quite the same company, but they are still glad to be there.
As for myself, I worked at that company for seven years, and it was a good job to me. It gave me a lot of skills that serve me well in my current position. I moved from Indiana to New Jersey for this job, and my life has changed a lot. I can't see myself going back. Things are just too different now, and I feel like that part of my life is over and not something I should try to get back.
Losing your job after having it for a long time is indeed scary and unsettling, but if you look at it as an opportunity rather than a burden, you can really put your life in a new direction and take advantage of it.