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I'm reading these comments and feel the need to speak some truths. Come on everyone, have we not stopped drinking that koolaid yet ? Are we still that naive ?
by dbjijk 4y ago
I'm reading these comments and feel the need to speak some truths.
Come on everyone, have we not stopped drinking that koolaid yet ? Are we still that naive ?
The ONLY loyalty of a company is to its shareholders. The SOLE PURPOSE of a company is to increase profits for its shareholders. And you know it.
Yes they sit on plenty of money. It's not your money, it's not the employees money, it's the shareholders money. And they want more of it.
All the rest, the products, the messaging, whatever, is all just the means to reach that singular goal, increase profits for shareholders.
The current news cycle warning for recenssions and though times allows large companies to push through this kind of workforce reductions with less pushback than they would get in order times, and it is the perfect way to increase profitability.
Stock is up 2.3% already.
PS: I feel bad for everyone suffering from this. Losing a job is a personal drama for everyone involved.
- bigcloud1299 4y agoLet’s have different point of view. Google has probably cost shareholder billions of dollars through over comp, through employee benefits (pampering). Their profits have consistently shrunk. So does google really care about shareholders? Or has it been lucky decade for all tech giants due to low interest rates. This decade will tell.
- dbjijk 4y agoI agree, it has definitely been a "lucky decade" in more than one way. Now that the cost of money is non-zero, I expect to see changes in multiple regards.