4 ms·

Sociopathic? Are the laid off $300k/y developpers going to struggle getting food on their plates?

by BbzzbB 4y ago

amelius 4y ago
Probably not, but they might have to go back to ramen.
cudgy 4y ago
Perhaps if they have a million plus mortgage on their house in SF, a couple car loans, a new health insurance payment, cash flowing a kid in college or private school, child support / alimony payments, vacation home, etc.
IMTDb 4y ago
Roughly 30% of the Americans earning > 250k / year are living Paycheck to Paycheck. Of course one can hope that having to rely on food stamps/charity after earning multiples of the median income will improve people ability to budget, but I somehow doubt that will be the case in a country revolving around credits cards being the main payment method.
- luckylion 4y ago
  It's technically "paycheck to paycheck", but it's on a different level than "if my paycheck is a week late, I don't eat or my electricity is shut off or I'm going to be evicted". It's cash-flow optimized leveraged wealth.
- lostmsu 4y ago
  Last time that claim was made, the stock part of compensation was not included.
- BbzzbB 4y ago
  Of course, people have this habit of spending every dollar they earn and more, no matter how much they earn. But I struggle to see the tragedy in them having to downsize their life as a result of their overhired job getting cut and even less to pity them if they didn't build some nest egg with those salaries. It's not like Meta employees are some bottom shelf developpers anyway, they'll find more work I'm not scared for them.
jjav 4y ago
> Sociopathic? Are the laid off $300k/y developpers going to struggle getting food on their plates? Laid off people (of any profession) are making $0/year.
KptMarchewa 4y ago
If company thought it's excessive they could not hire them. If company could not afford them, they would not do stock buyback. Non-performance related layoffs should be a decision that comes with heavy corporate penalties, such as ban of dividends or buybacks for a number of years.

Sociopathic? Are the laid off $300k/y developpers going to struggle getting food on their plates?

by BbzzbB 4y ago

Sociopathic? Are the laid off $300k/y developpers going to struggle getting food on their plates?

amelius 4y ago

Probably not, but they might have to go back to ramen.

cudgy 4y ago

Perhaps if they have a million plus mortgage on their house in SF, a couple car loans, a new health insurance payment, cash flowing a kid in college or private school, child support / alimony payments, vacation home, etc.

IMTDb 4y ago

Roughly 30% of the Americans earning > 250k / year are living Paycheck to Paycheck. Of course one can hope that having to rely on food stamps/charity after earning multiples of the median income will improve people ability to budget, but I somehow doubt that will be the case in a country revolving around credits cards being the main payment method.

luckylion 4y ago
It's technically "paycheck to paycheck", but it's on a different level than "if my paycheck is a week late, I don't eat or my electricity is shut off or I'm going to be evicted". It's cash-flow optimized leveraged wealth.
lostmsu 4y ago
Last time that claim was made, the stock part of compensation was not included.
BbzzbB 4y ago
Of course, people have this habit of spending every dollar they earn and more, no matter how much they earn. But I struggle to see the tragedy in them having to downsize their life as a result of their overhired job getting cut and even less to pity them if they didn't build some nest egg with those salaries. It's not like Meta employees are some bottom shelf developpers anyway, they'll find more work I'm not scared for them.

jjav 4y ago

> Sociopathic? Are the laid off $300k/y developpers going to struggle getting food on their plates? Laid off people (of any profession) are making $0/year.

KptMarchewa 4y ago

If company thought it's excessive they could not hire them. If company could not afford them, they would not do stock buyback. Non-performance related layoffs should be a decision that comes with heavy corporate penalties, such as ban of dividends or buybacks for a number of years.