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Indeed, it sucks to be laid off. But how is company's reducing costs "virtue signaling"?
by ww-picard-do 4y ago
Indeed, it sucks to be laid off. But how is company's reducing costs "virtue signaling"?
- mikeryan 4y agoIt's the timing. For the sake of the argument here I'll give Salesforce the benefit of the doubt that this is the "Smart" thing to do. If Salesforce does a reduction in force when the economy is strong it get spun by Wall Street as a sign of weakness and their stock takes a hit. Do it in a down economy and it's a sign of strength and Wall Street rewards them (stock is up 3% today). Salesforce did fine through COVID, heck the stock price basically doubled from 2020 to 2021. So they hire like crazy knowing it's unsustainable. Now their stock is at pre-pandemic prices and they start letting all those folks go when they're most vulnerable.