The meme references the infamous "Demon Core" incident at Los Alamos National Laboratory. In 1946, physicist Louis Slotin was performing a criticality experiment on a plutonium core (nicknamed the "Demon Core" after causing a previous fatality) when his screwdriver slipped, causing a prompt critical reaction. He received a lethal dose of radiation and died nine days later.
The SpongeBob characters' expressions perfectly capture that split-second realization when you've just initiated a nuclear disaster with your hand tools. Nothing says "career-limiting move" quite like irradiating yourself and your colleagues because you decided safety protocols were more like safety suggestions.
Fun fact: Slotin was nicknamed the "chief armorer of the United States" for his work assembling cores. Turns out screwdrivers and fissile material don't mix well. Who knew?