Silicon Valley is home to countless dot.coms and high-tech companies, including Microsoft, Lucent Technology, and Oracle. The recent economic crisis has raised the anxiety level of those who live or work there, prompting some people to seek psychiatric help.
“Nearly half my patients have been affected by the downturn in the tech industry, Nanette Orman, M.D., a psychiatrist in private practice in Silicon Valley, told Psychiatric News. “Either they are employed in the industry or their spouse or a relative or friend is.”
Orman is a clinical assistant professor of psychiatry at Stanford University in Palo Alto, just south of Silicon Valley.
She characterized her patients as functional and relatively young, ranging in age from their late 20s to early 40s.
“The economic downturn has been particularly difficult for people in their 20s and early 30s, who have only seen upward growth, “ said Orman.
Her patients who anticipated the economic slowdown were not shocked by the layoffs but felt some anger and disappointment. “However, a few of my patients were devastated when they were laid off. They felt like the rug had been ripped out from under them,” she said.
How companies handle laying off their employees is critical, Orman said. “Those that do a good job give their employees advance warning and are empathetic. They reassure the employees that they are not being laid off because of their actions but rather because of financial reasons.”
By contrast, some managers abruptly tell employees they are being laid off and ask them to pack up their things and leave immediately, said Orman.
“This insensitivity can result in employees’ feeling bitter and devalued by the company,” she observed.
Orman noted that self-esteem issues often resurface in patients after they have been laid off. They question the value of their work, especially if they have been laid off more than once, or whether someone will love them if their lifestyle changes, said Orman.
“I am surprised that people who are relatively young have so much dread and fear about their future. They are afraid that they will end up old, alone, and pushing a shopping cart,” she said. “Even people who are happily married are afraid their spouse will stop liking them if they lose what they have.”
Employees who invested heavily in their company stocks for their retirement and savings have seen their value rapidly decline, creating anxiety about their finances.
“My patients worry about whether they can afford to keep their children in private schools, continue to live in the expensive house, and take vacations,” she said.
For her part, Orman helps patients deal with their anxiety and insomnia by increasing their therapy visits and prescribing medications, as needed. She also encourages her patients to exercise, avoid alcohol until they have calmed down, and do relaxation exercises and meditation.
Orman also reads the business pages regularly. “I want to be prepared for what I will hear in my office that day.” ▪
