[crossposted from the Northwest Progressive Institute]
So this is what it feels like to be "collateral damage."
My story is surely nothing short of commonplace these days. In October my company laid off 40 people as a direct consequence of the financial system meltdown. That’s no small thing for a company that was only about 100 people.
I work at a technology startup. When the banks stopped lending money, Wall Street freaked out and the bottom fell out of the stock market. When that happened, the venture capital firms freaked out and they suddenly got really skittish about making further investments.
It's those investments that allow technology startups to grow and flourish. But when investments that had been promised in the summer were yanked away in the fall, our upper management had no choice but to gnaw off one of the company's legs, as it were, to survive.
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