Opinion: Tech’s next big idea? A no-layoffs pandemic pledge

A file photo of people who lost their jobs waiting in line to file for unemployment following an outbreak of the coronavirus disease (Covid-19), in Fort Smith, Arkansas, US. Many technology companies have decided to institute a ‘no-layoff’ policy for their employees during these tumultuous times. — Reuters

With lockdown restrictions from the coronavirus pandemic decimating many US 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 – 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.