I remember a similar speech given by a director of a certain tech company that acquired us. 10 minutes later people were being let go and shortly after 15% of the employees were told they would be getting 6 month contracts.
that's not necessarily a bad thing. I'm sure it sucks to be downsized, but cutting staff you can't afford to pay in order to save a dying company is infinitely better than driving a company into the ground because you don't want to fire anybody.
and i don't see any promise here not to fire people. he explicitly says change will be necessary.
Those kinds of decisions need to be made after understanding the responsibilities of each employee that is being let go. Two years later and my job is still required at the large tech company that swallowed us, along with many others that were being terminated.
