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I’ve been through two layoffs at tech companies - one of 14,000 and one of 15,000. One touched a lot of teams including my own. The second was mostly smoke an
by QuarterRoy 4y ago
I’ve been through two layoffs at tech companies - one of 14,000 and one of 15,000.
One touched a lot of teams including my own. The second was mostly smoke and mirrors - they took multiple factories and supply chain employees and sold them or outsourced them to a company that picked up the payroll for those employees. Only a handful of roles were truly culled.
The announcement of the layoffs was theatre for Wall Street.
- mattfrommars 4y agoSorry, care to explain why did you mention Wall Street in your post? What does it signify?
- mechanical_bear 4y agoThey laid people off only on paper, essentially moving those people to outsource roles. This made their ongoing expenses look better to investors, when presented in a dishonest manner.
- lalaithion 4y agoWall Street is metonymy for the stock market.
- brokencode 4y ago“Wall Street” refers to stock investors and analysts who put pressure on the company to increase their profit and share prices above all else. They are motivated primarily by making a profit on their investment rather than long term health of the company. This is due to the New York Stock Exchange being located on Wall Street in New York.
- deleted 4y ago[deleted]
- nicholasjarnold 4y ago> The announcement of the layoffs was theatre for Wall Street. I'm interpreting this as "the (publicly-traded) company used a layoff announcement to appease investors and show them that executive management is taking steps to ensure the company operates more efficiently, thereby keeping it within the good graces of these investors/hedge-fund managers/etc".
- deleted 4y ago[deleted]
- mewse-hn 4y agoIf a company is experiencing a dipping stock price (poor growth or whatever other reason) they can announce a huge layoff to attempt to bolster the stock price
- catskul2 4y agoI interpreted that as "for investors". Basically reassuring them that the org is not bloated, or improving the raw numbers so anyone using heuristics based on those numbers is made happy.
- dx034 4y agoIt's important that Wall Street is not just some people but the owners of the company. So it's a signal to the owners that their money will be better spent. Just saying Wall Street sounds very dismissive of the obligations that management has to the owners.