Comment by joe_mamba

Disagree with the "jobs for life" part for management. Only managers who are there thanks to connection, nepotism or cronyism, are there for life as long as those shielding them also stay in place. THose who got in or got promoted to management meritocratically don't have that protection and are the first to be let go.

At all large MNCs I worked at, management got hired and fired mostly on their (or lack thereof) connections and less on what they actually did. Once they got let go, they had near impossible time finding another management position elsewhere without connections in other places.