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Tesla, Google and Microsoft's ongoing job cuts could backfire for them
Job cuts at tech companies like Google, Microsoft, and Tesla could hurt morale, productivity, and talent retention, countering any financial benefits.
Even at marquee companies that are unlikely to ever be hard up for fresh résumés, the cuts can ding morale, crimp productivity, drive away prime workers, and keep at least some top talent from joining the organization, labor market experts told Business Insider. Yet leaders can feel a need to let go of workers for reasons that include pleasing Wall Street, operating more efficiently, focusing on newer efforts like artificial intelligence, and generally making do in a slower-growth environment brought on, in part, by interest rates that are far higher than just a few years ago, as BI has previously reported. Caroline Ogawa, a director in the HR practice at the research firm Gartner, said that even though the job market for white-collar employees might be softening, many workers have yet to let go of the sense of power they developed a couple of years ago during the Great Resignation.
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