Is there any area of business that will be spared massive lay offs? Watch Jeffrey Goldfarb talk to Reynolds Holding about cuts in staff and pay at global law firm Weil Gotshal & Manges:
Read about the likelihood of such development in the legal business years ago. So I’m not surprised. It reflects a structural shift in the way we do business.
In a world of neo-liberal policies, to employ or not employ is reduced to mathematical formulas. And in area after area the formulas seem to be stacked against employment. Read somewhere that 2 billion jobs will be lost by the year 2030.
Employment a thing of the past?
Is employing people becoming a thing of the past? Not only in business but in other areas of the economy as well? The same mathematical formula will most likely be applied even to non business sectors such as health care. In order to maximise profits self employed doctors and nurses may very well be the way of the future.
In Britain alone 367,000 people have become self employed since 2008. And you have the same development all over the world.
Many of us already have our own companies so the development suits us. Do however feel sorry for today’s teenagers who have decided to go down the MBA route. The majority of them will not have the opportunity we had of starting their career as employees. They will have to swiftly set up their own company. Needless to say that will put those who don’t have an entrepreneurial mind in a difficult position. Many of them will be building up debt as they scrape along.
Do you think self employment is the way of the future? What sectors could possibly be spared from massive layoffs? Apart from current development, will the world’s population outgrow the number of jobs available? How is education preparing the next generation for self employment? Do you think the future will lead to competition amongst self employed people getting tougher and tougher?
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