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You don't lay off people (or avoid doing so) because you have large or small profits, quite the opposite, you have the profits you do because you do (or don't d

You don't lay off people (or avoid doing so) because you have large or small profits, quite the opposite, you have the profits you do because you do (or don't do) lay off people when it makes economic sense to do so. The decision whether laying off those 12000 people improves or hurts the company is the same no matter if you have $60B net income or $6B net loss. Being hugely profitable doesn't make it worth keeping more people than you need, just as having losses doesn't make it worth firing people you do need.

lancesells 3y ago
> Being hugely profitable doesn't make it worth keeping more people than you need, just as having losses doesn't make it worth firing people you do need. I understand this is the thinking that runs the economy, and it's very much a shame. With 12k unneeded people you think the work they were doing disappears? No, the people still there (that brought in records profits) now get to shoulder that work. Do you think all 12k of those people were the worst or maybe some were older and more experiences, being paid better than a recent college grad? It's just pure greed and the people there should be pissed off at the CEO and the board.