If you haven't already heard about the Silicon Valley Bank collapse, it affected a lot of tech companies who simply chose the wrong bank to bank with.
In the wake of the SVB collapse on Friday, my team lead asked us to work through the weekend, saying “our work could be a major factor in the outcome.” While on Monday, all companies were able to recover their funds from the bank, we learned that 100 people's positions had already been chosen to be eliminated before the weekend.
I'm writing this in the hopes that people understand: COMPANIES, EVEN THE “GOOD” ONES, DO NOT HAVE YOUR BACK. Us putting in 14 hour days Saturday and Sunday did not change our employment outcome. One of my teammates was even on an H1B visa. The time he could have used and was entitled to use to explore other job opportunities that would have helped him with his immigration status was instead exploited by a team lead who did not even think about him as more than a tool to ship the project.
And this happens everywhere, even the places that sell themselves as “good.” We're a pretty well-known brand, with millions of people using our app. This company has won multiple culture awards, treats people with respect, but none of this will change that they will still prioritize profit over all else. Your coworkers, your managers – they will prioritize their own success at work above all else, including you.
Never forget it, and it won't come as a surprise if you are impacted.