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They literally don't care. Don't tell them "the truth", don't tell them "what's wrong with the company", nothing. Just say you've enjoyed working there and if things turn around you'd be open to coming back.
The best outcome for an exit interview is you leave on good terms so you can use them in the future if necessary. You never know when you'll need a reference.
Again, any criticism or negativity you bring to the exit interview will just be used against you. You'll be labeled as disgruntled, or whiny, or just didn't have what it takes. And that will cut you off from using them in the future if you need to.
Agreed if you’re quitting. If you’re getting laid off then you’re not coming back anyway.
If you get laid off "ethically" (as in the company really does have budgeting issues and they really are trying to weather the storm and they really are cutting back your role which isn't critical to continued business operations) then there might be potential options to come back in the future if the business can course correct.
If you're getting laid off because they're too cowardly to fire you, yeah. There's no position to come back to.
Yup, I got hired back a month after being laid off. My job search didn't pan out well so I was glad.