2 ms·

So because of a situation you claim is unprecedented, you are advocating for doing the same old sweeping layoffs CEOs have done for decades? Personally, I thin

So because of a situation you claim is unprecedented, you are advocating for doing the same old sweeping layoffs CEOs have done for decades? Personally, I think the situation is an entirely precedented change in growth expectations that comes around a tightening of monetary policy and a possible recession. But assuming that you're right, on what basis are you claiming that the standard playbook will get new and better results this time?

treis 4y ago
>So because of a situation you claim is unprecedented I claim? Do you remember any other global pandemics that reshaped the tech industry?
- wpietri 4y ago
  Again, you are failing to address most of a point. That's not a good sign, and I ask you to address it fully, but in the meantime I'll address yours. Your claim is that this is driven by the pandemic. I think that's pretty suspect. China excepted, pandemic restrictions ended quite a while ago. I think this is much better explained by the usual shifts in the overall economic cycle, especially the Fed's recent increases in interest rates as they seek to quench inflation, plus the matching stock downturn. An easy check on this: Google's announcement of layoffs doesn't even mention the pandemic. Another one is that layoffs are happening across the industry, not just in companies that were especially boosted by the pandemic. But even if it were purely driven by pandemic growth and then the retreat of growth, changes in growth expectations are not unprecedented. Unless you have numbers that show different, I expect the changes in growth rates are not unusual at all compared with other major economic phenomena.