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Yeah I'm gonna empty out my assets and close my account. I HATE companies that fire people on the first bad quarter. People are relying on this salary to live.

Yeah I'm gonna empty out my assets and close my account. I HATE companies that fire people on the first bad quarter. People are relying on this salary to live. Literally have some basic fiscal responsibility and don't hire to the point where one bad quarter means you have to fire a tenth of your workforce. The fuck.

Gigachad 5y ago
That's the startup tech company way though. You get in and make stupid amounts of money on the understanding it could vanish at any moment but your skills are valuable so you can get a job somewhere else quickly. I feel much worse for the casual employees who can have their hours reduced to unlivable amounts silently with no press release.
- aaomidi 5y ago
  The thing is, there isn't enough of an adverse consequence for companies to do this. For example, if companies got fined for large layoffs, or large number of employee cuts over a short amount of time (just to prevent loopholes of "slowly" laying off people), then this would be far less likely. Layoffs have an impact on far more than just the company. They have an impact on the state, they have an impact on the side service oriented businesses created because of that company, and they have a direct impact on the lives of the workers and their dependents. It shouldn't be "free" for a company to have a ripple effect of this magnitude. Regulations like this would force companies to grow in a sustainable fashion, since having a "break" like this would be extremely expensive to the execs and major shareholders of the company. FWIW I have barely thought this out and this might sound ridiculous.
  - johnny22 5y ago
    Well maybe your solution isn't good, but "It shouldn't be "free" for a company to have a ripple effect of this magnitude." is a valid point that i've not seen made explicitly.
ars 5y ago
Do they not have SIPC Insurance?
lupire 5y ago
You think those people would rather be unemployed last year?
- aaomidi 5y ago
  This implies that they wouldn't have been able to get hired elsewhere. What are they going to do now?
  - unobatbayar 5y ago
    Hopefully greater things.
conanbatt 5y ago
RH is 80% down from IPO Price one year ago. Anyway it had way too many people and itwas grossly inefficient. It should probably cut staff 50% or more imo.

Gigachad 5y ago

That's the startup tech company way though. You get in and make stupid amounts of money on the understanding it could vanish at any moment but your skills are valuable so you can get a job somewhere else quickly. I feel much worse for the casual employees who can have their hours reduced to unlivable amounts silently with no press release.

aaomidi 5y ago
The thing is, there isn't enough of an adverse consequence for companies to do this. For example, if companies got fined for large layoffs, or large number of employee cuts over a short amount of time (just to prevent loopholes of "slowly" laying off people), then this would be far less likely. Layoffs have an impact on far more than just the company. They have an impact on the state, they have an impact on the side service oriented businesses created because of that company, and they have a direct impact on the lives of the workers and their dependents. It shouldn't be "free" for a company to have a ripple effect of this magnitude. Regulations like this would force companies to grow in a sustainable fashion, since having a "break" like this would be extremely expensive to the execs and major shareholders of the company. FWIW I have barely thought this out and this might sound ridiculous.
- johnny22 5y ago
  Well maybe your solution isn't good, but "It shouldn't be "free" for a company to have a ripple effect of this magnitude." is a valid point that i've not seen made explicitly.

ars 5y ago

Do they not have SIPC Insurance?

lupire 5y ago

You think those people would rather be unemployed last year?

aaomidi 5y ago
This implies that they wouldn't have been able to get hired elsewhere. What are they going to do now?
- unobatbayar 5y ago
  Hopefully greater things.

conanbatt 5y ago

RH is 80% down from IPO Price one year ago. Anyway it had way too many people and itwas grossly inefficient. It should probably cut staff 50% or more imo.