Genesis Fisher, Esq., Founder and Principal Attorney at Fisher Law Practice, P.C., and I recap the latest 5 Things (good vibes in DEI) in just 15 minutes. This week our conversation is about how Shopify handled layoffs, Pottery Barn's inclusive line, the latest apprentices, and more!
This week I had some important conversations with my team about the future of our little company, where we’re going, and what we have to do to get there. As a CEO and leader, I’m making big decisions and taking massive risks. It’s scary but it’s less scary when I admit how scary it is, and when my team shares their fears, too – and we all move forward anyway with humility and our shared sense of purpose.
I was reminded this week that sometimes big risks don’t pay off. Layoffs and hiring slowdowns have hit tech. What we’re now seeing crystal clear is that there’s a right way and a wrong way to reduce the workforce. Shopify laid off 1000 employees - and did so with humanity and compassion.
In the letter to the team, CEO Tobi Lütke was transparent about the mistakes that were made that led to the staff reduction: Ultimately, placing this bet was my call to make and I got this wrong. Now, we have to adjust. As a consequence, we have to say goodbye to some of you today and I’m deeply sorry for that.
Lütke also gave departing employees some generous perks beyond severance pay, including still paying for internet, money for new hardware, and organizing and distributing a list of employees looking for work.
To those remaining employees, Lütke reiterated the company’s purpose: Our customers are merchants, entrepreneurs, and small business owners - the bedrock of our economy and precisely those that are typically hit hardest during recessions. Most are already feeling it. We again have a clear objective in these challenging macro-economic times, and we will use everything we’ve got to help them succeed and come out stronger. That’s our core mission.
This matters because it shows humility. The CEO, in admitting his failures, also models a way to create psychological safety.
Here are other good vibes I found this week:
2. VP Aims for Inclusivity: “I Am Kamala Harris. My Pronouns Are She and Her, and I Am a Woman Sitting at the Table Wearing a Blue Suit.”
3. Disney Replaces ‘Fairy Godmothers’ Title at Parks With Gender-Neutral ‘Apprentices’
4. Pottery Barn Debuts 150+ Pieces of Furniture for People With Disabilities
5. HSBC Offers Gender-Neutral Banking in Inclusivity Bid
To learn more about Genesis Fisher, Esq. and her firm, visit: http://www.fisherlawpractice.nyc/