Tech’s Next Big Idea? A No-Layoffs Pandemic Pledge
From Nvidia to PayPal, some big names in tech are guaranteeing continued employment, a move that may pinch now but pay off down the road.
Cisco is among tech companies telling workers their jobs are safe.
Photographer: Andrew Harrer/Bloomberg
With lockdown restrictions from the coronavirus pandemic decimating many U.S. businesses and tens of millions filing for unemployment, it’s no surprise Americans are fretting about their job security. To ease this uncertainty, many technology companies have decided to institute a “no-layoff” policy for their employees during these tumultuous times. Not only is this good for workers — but it’s smart business, too.
The list of companies guaranteeing continued employment includes some of the biggest and brightest names in tech. Nvidia Corp. CEO Jensen Huang told employees in an email earlier this month that the chipmaker won’t cut staff due to the Covid-19 pandemic. Instead, it’s pulling forward new salary hikes. Likewise, Cisco Systems Inc. CEO Chuck Robbins told Bloomberg News his employees’ jobs were safe, as did management at ServiceNow, an enterprise software provider that is among the number of tech firms reporting earning this week. PayPal Holdings Inc. also made job-protection vows.