Only three months into 2023, it seems like every major tech company has announced major layoffs.
Meta (META), Alphabet's (GOOGL) Google and Amazon (AMZN), once considered stable places to work, have all let go of thousands of employees -- some without even formally informing them and simply cutting their access to Gmail and Slack.
DON'T MISS: The Blunt Layoff Message Amazon CEO Andy Jassy Wrote to Workers
Many will say that these types of layoffs are "just business." Meta CEO Mark Zuckerberg has deemed 2023 Meta's "year of efficiency," predicting that the tech industry will see many more such layoffs over the next few years.
Financial guru Dave Ramsey weighed in on the issue, mincing no words as he laid out his take.
"An easy way to short term -- and it is a short term play -- to increase profits is to cut your biggest line item. And it's payroll. Next quarter, your profits will go up and your stock price will go up. When you fire people, lay people off, put them on the street, their dreams are crushed, their house is in foreclosure, they're panicking, they're scared."
"But you got your profits up," he continued. "It's absolutely unethical. And it's also short-sighted, because as soon as you want to grow your little business again, you've got rehire those people that you sacrificed on the altar of stock price."
