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What's weird is that all of these CEOs are saying the same thing: "I hired too many folks a couple years ago, welp, guess I was wrong". You would think some co
by danjac 4y ago
What's weird is that all of these CEOs are saying the same thing: "I hired too many folks a couple years ago, welp, guess I was wrong".
You would think some companies hired too many, some hired too few, others more or less just stayed the same. Instead we're seeing this groupthink of these so-called geniuses of the industry moving this way and that like a flock of sheep.
- mvdwoord 4y agoIt is almost as if the low interest rate stimulated frivolous spending by investors..
- juve1996 4y agoThose CEOs knew what they were doing and what they're doing isn't wrong. Our entire economy is built on short term gain and rewards that. CEOs are worried about their quarterly numbers and are doing layoffs to lessen the blow.
- danjac 4y agoSure, but then one questions the need of these extremely-well renumerated CEOs. If they are guided purely by quarterly numbers, stock market trends and industry groupthink, then why not save a fortune and replace them wholesale with an AI.
- juve1996 4y agoNever said purely. In any case, it's a proxy. When they're presented an easy win, they're going to take it. Most of these cuts are happening in unprofitable business areas. Before with cheap cash and a strong economy, it made sense to keep these people on. The market valued investment. Now it no longer does - now profit matters, and that means cutting costs. There's not a single person on here who wouldn't be making these decisions right now. You don't call a person who decides to cut their grocery bill dumb and influenced by group think. It's time to save money, and the overall economy recognizes this.
- danjac 4y ago> There's not a single person on here who wouldn't be making these decisions right now. What about Tim Cook?