Nintendo goes against tech layoffs
This Tech Giant Zags In the Face of Tech Layoffs
Are you in tech? Do you still have a job? Well, about 63,000 have been let go in the first two months of 2023. Ironically “the dream jobs” from tech giants were the first to land on the chopping block.
Everyone is trying to land a gig at Amazon, Google, or other big tech corpo to enjoy that 6-figure salary. Once you get it, the lifestyle creep kicks in because of the monnies influx comes a house, a brand new Tesla, and unnecessary expensive backyard grill which you can command with your new Apple watch.
2023 started with a mass layoff and even the seasoned and loyal employees weren’t safe. Which beckons to think — are those dream jobs still dreamy?
What has that to do with competition? I’d say it’s got plenty. The competitive edge isn’t achieved only in terms of product.
It’s achieved through the brand itself and Nintendo has just earned major points for not following the trends of laying off thousands of people.
Let’s be honest here. Some of these tech companies might be bloated and don’t need as much staff. On the other side, these companies might just want to appease the investor and rise the stock yield for a while. We don’t know….
But if you wanted to drop some weight, you should do it when everyone is doing it, right?
Well, what better time than now? However, blindly following the layoff trend puts you in the same bucket as all the other insensitive companies — you don’t actually care for the employees, you’re there to listen to the investors.
What if you take this opportunity to zag when everyone is zigging.
Nintendo is one of the rare companies that refused to let go of its workers. Au contraire — they did a slight hire bump.
This might be a part of their culture. In 2013, Nintendo’s chief Satoru Iwata refused to lay off staff despite missing KPIs by a freaking mile.
“If we reduce the number of employees for better short-term financial results, employee morale will decrease,” he said. “I sincerely doubt employees who fear that they may be laid off will be able to develop software titles that could impress people around the world.” — Sowatu Iwara
Code of the Samurai?
In 2014, the same dude, CEO/daimyo Satoru Iwata, missed the revenue goals for their handheld device Nintendo 3DS. Their sales fell for 8.1% compared to the previous period.
Instead of laying off staff and keeping the margins healthy, the OG took 50% pay cut while other senior executives forego between 20 to 30 percent of their salaries.
I don’t know about you, but I immediately see a picture of a noble samurai who is about to sacrifice a couple of fingers because he dishonored his masters.
What a bunch of wholesome studs!
Nintendo is hiring when everyone else is firing
Weeeeooooowwww. Flash forward to the present.
Despite inflation and 20% lower profits (geez man, are the KPIs too aggressive?) Nintendo pledged to raise the dev salaries by 10%. The honorable president Shuntaro Furukawa said it’s important for the long-term growth to secure their workforce.
What a freaking G!
Company Culture as Competitive Advantage
Seems like no one is safe in the tech world, at least if you look at the N. American market. The so-called dream jobs might not be dreamy anymore if you consider how many people were let go even after they dedicated years of their lives to the company and sat on stellar performance year-over-year.
Is there nothing sacred anymore? I’m willing to bet one of my earlobes that a certain portion of tech staff would gladly be signed up for a company where one of the historically proven key values is workforce security.
They might be looking at the lower salary, but having a piece of mind and the assurance that their company has their back (and I mean they support them and not having their back like Sub-Zero in the Mortal Kombat video game).
In a world where uncertainty is becoming a norm, a company like Nintendo is sticking out as a beacon of light. Company culture = competitive advantage.
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