In 2020, our company made the decision to fire roughly half of the employees in my division. I ended up getting shifted to a new position. Well surprise! About 4 or 5 of our competitors *did not* fire people. They hired a bunch of the guys we let go and started competing in our spaces.
Company decides the logical thing to do is raise prices by 25%. They also start charging for a bunch of services we used to do for free. Client base shrinks by 30% over the past year.
VP says “clients are definitely willing to pay more judging from the success of our premium services”. OK, then why was the net profit $10 million in 2020 but only $3 million now?
Sometimes I think people just exist on an entirely different world. The answers are so obvious but they can't see it.
TL;DR: Company fired a ton of people during the pandemic to save money, then hiked prices. Ended up losing a ton of money anyway.