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Has the CEO taken "responsibility" for their mistakes while increasing their bonus for improving operational efficiencies?

sprkwd 4y ago
He has not. He has expressed his personal appreciation for the meaningful contributions they have made to PayPal. Progress?
- oxfordmale 4y ago
  At least he is being more honest than the CEOs in the previous tech layoffs "While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do," Schulman said in the note. "We must continue to change as our world, our customers, and our competitive landscape evolve."
paulddraper 4y ago
If an employee moves to a new job, was the first job a "mistake"? If an employer lets people go, did it make a "mistake"? Businesses are not completely static from beginning to end. This is especially true for R&D heavy enterprises.
- oxfordmale 4y ago
  There are many good reasons for lay-offs, for example, in the case of Twitter, as they would have run into cash flow issues without them. However, the recent lay-offs appear to be copycat behaviour. All the companies had plenty of cash, good revenue, and staff turnover rates multiple times the lay-offs. A hiring freeze would have been sufficient. Most of the companies affected are still hiring and will likely ramp up hiring again towards the end of 2023 if a recession is avoided. As flagged up by other commenters, there is still plenty of cash for events, execute flights and other excesses.
- deelly 4y ago
  Depends on numbers I suppose. One employee - not a mistake. Twelve thousands employees - looks like a quite big mistake?
shapefrog 4y ago
The CEO is going to take an extra couple of weeks of paid time off and fly the corporate jet to their yacht to properly decompress and reflect on this very trying time for all parties.
- mint2 4y ago
  It is a very trying time for all the CEO’s parties. It’s challenging and stressful to have to keep them secret because of the bad PR that would arise from the optics.
  - shapefrog 4y ago
    No doubt they will pour one out for all the homies laid off.
jsnell 4y ago
The submission is literally the message by the CEO, so you can very well see they didn't try to claim responsibility or accountability with no consequences. I'm all for mocking this behavior when it happens, but maybe we don't need to do so when it explicitly didn't?

sprkwd 4y ago

He has not. He has expressed his personal appreciation for the meaningful contributions they have made to PayPal. Progress?

oxfordmale 4y ago
At least he is being more honest than the CEOs in the previous tech layoffs "While we have made substantial progress in right-sizing our cost structure, and focused our resources on our core strategic priorities, we have more work to do," Schulman said in the note. "We must continue to change as our world, our customers, and our competitive landscape evolve."

paulddraper 4y ago

If an employee moves to a new job, was the first job a "mistake"? If an employer lets people go, did it make a "mistake"? Businesses are not completely static from beginning to end. This is especially true for R&D heavy enterprises.

oxfordmale 4y ago
There are many good reasons for lay-offs, for example, in the case of Twitter, as they would have run into cash flow issues without them. However, the recent lay-offs appear to be copycat behaviour. All the companies had plenty of cash, good revenue, and staff turnover rates multiple times the lay-offs. A hiring freeze would have been sufficient. Most of the companies affected are still hiring and will likely ramp up hiring again towards the end of 2023 if a recession is avoided. As flagged up by other commenters, there is still plenty of cash for events, execute flights and other excesses.
deelly 4y ago
Depends on numbers I suppose. One employee - not a mistake. Twelve thousands employees - looks like a quite big mistake?

shapefrog 4y ago

The CEO is going to take an extra couple of weeks of paid time off and fly the corporate jet to their yacht to properly decompress and reflect on this very trying time for all parties.

mint2 4y ago
It is a very trying time for all the CEO’s parties. It’s challenging and stressful to have to keep them secret because of the bad PR that would arise from the optics.
- shapefrog 4y ago
  No doubt they will pour one out for all the homies laid off.

jsnell 4y ago

The submission is literally the message by the CEO, so you can very well see they didn't try to claim responsibility or accountability with no consequences. I'm all for mocking this behavior when it happens, but maybe we don't need to do so when it explicitly didn't?