The old "lets get rid of 5% by next n months" creates a piss poor environment for everyone. I encountered this at one of the first companies I worked for ... I

The old "lets get rid of 5% by next n months" creates a piss poor environment for everyone. I encountered this at one of the first companies I worked for ... I was (tech-wise) young hot stuff. Older people I liked were freaked out. This got me so negative that I left myself after the layoffs. This was around the Y2K tech implosion. When I told my wife about the Cisco layoffs she remarked .. 'oh ... it is like 2000 again'. This got me thinking. Things are surely different today and I'd say a lot better for capable people. For one, entrepreneurship is much more accessible today due to the lower start up capital needed. Another similarity is that around the Y2K meltdown, anyone who knew HTML was calling themselves a web programmer. I see a bit of that these days. But not to the same extent. And I don't see large corporations hiring such people to the same extent that web startups hired. As another commenter mentioned ... these people may not have had the right skills. My guess is that the older workers will bear the brunt of the axe. This reinforces my belief that knowledge capital is very ephemeral in tech. A final note: I feel very bad for the people losing their jobs. I think rationalizing it based on economics or that the company has fiduciary responsibilities to its shareholders is foobar. I truly believe the HN community contains the next set of leaders in the tech industry. It makes me sad how insensitive comments are to Cisco employees. Sure, many will find jobs soon. Many will also have sleepless nights. The tech industry is renowned for meritocracy and our professionals are perhaps the least organized of all. We need to be compassionate.