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This is what's really getting under my skin. The messaging is not even hidden anymore. It's right out in the open that many companies are making enormous profi

This is what's really getting under my skin. The messaging is not even hidden anymore. It's right out in the open that many companies are making enormous profits and giving out astonishing executive bonuses, at the same time as freezing salaries and layoffs. It's not adding up, and I'm kind of just waiting to see if more people are going to become as fed up with it as I am, or if we're all just too comfortable.

toomuchtodo 3y ago
https://www.usatoday.com/story/money/2023/08/25/t-mobile-layoffs-cut-workers-jobs-nationwide/70680602007/ https://www.usatoday.com/story/money/2023/08/25/t-mobile-lay... (T-Mobile to lay off 5,000 people nationwide, after Sprint merger promised more jobs) https://www.reuters.com/business/media-telecom/t-mobile-announces-shareholder-return-program-up-19-bln-2023-09-06/ https://www.reuters.com/business/media-telecom/t-mobile-anno... (T-Mobile US announces $19 bln shareholder return program) https://apnews.com/article/amazon-layoffs-jobs-cuts-jassy-0e857f39702de134c8f677c5b5731688 https://apnews.com/article/amazon-layoffs-jobs-cuts-jassy-0e... (Amazon cuts 9,000 more jobs, bringing 2023 total to 27,000) https://www.seattletimes.com/business/amazon/amazon-reports-6-7-billion-net-income-as-cloud-computing-stabilized/ https://www.seattletimes.com/business/amazon/amazon-reports-... (A year after historic loss, Amazon posts $6.7 billion quarterly profit)
- GiorgioG 3y ago
  It's almost as if corporations only care about their shareholders and give zero shits about their employees.
  - piva00 3y ago
    [flagged]
    - ogn3rd 3y ago
      we could go back to welfare capitalism, the way it worked before shareholder capitalism.
      - deleted 3y ago
        [deleted]
  - throwaway5959 3y ago
    I always thought this was obvious. That’s why we need regulation.
    - klardotsh 3y ago
      This is also why we need unions.
    - RestlessMind 3y ago
      what regulations would you propose?
      - 6D794163636F756 3y ago
        Take a look at worker and consumer protections in the EU and you'd be heading in the right direction. Or what we used to have. The minimum wage was original a living wage. Specifically it was designed so the worker was doing more than just surviving.
        RestlessMind 3y ago
        > worker and consumer protections in the EU and you'd be heading in the right direction Youth unemployment rate in France was 17-18% in 2022. Even today, it is 16% - https://tradingeconomics.com/france/youth-unemployment-rate https://tradingeconomics.com/france/youth-unemployment-rate Seems like existing workers are being protected at the cost of new entrants. Utterly predictable, since companies will be hesitant to set up shop in France because of onerous process of firing low performers.
      - iamacyborg 3y ago
        Doing away with at will employment would probably be a good start.
fatnoah 3y ago
> It's right out in the open that many companies are making enormous profits and giving out astonishing executive bonuses, at the same time as freezing salaries and layoffs. I started my career at a large defense contractor. This was long ago, back when one had a mail cubby to receive memos and the link. I remember receiving one memo that stated: 1. The company didn't hit the metrics needed to trigger profit-sharing with the employees 2. The executive team had different metrics which were hit, so they'd get bonuses It was a good life lesson for 22 year-old me.

toomuchtodo 3y ago

https://www.usatoday.com/story/money/2023/08/25/t-mobile-layoffs-cut-workers-jobs-nationwide/70680602007/ https://www.usatoday.com/story/money/2023/08/25/t-mobile-lay... (T-Mobile to lay off 5,000 people nationwide, after Sprint merger promised more jobs) https://www.reuters.com/business/media-telecom/t-mobile-announces-shareholder-return-program-up-19-bln-2023-09-06/ https://www.reuters.com/business/media-telecom/t-mobile-anno... (T-Mobile US announces $19 bln shareholder return program) https://apnews.com/article/amazon-layoffs-jobs-cuts-jassy-0e857f39702de134c8f677c5b5731688 https://apnews.com/article/amazon-layoffs-jobs-cuts-jassy-0e... (Amazon cuts 9,000 more jobs, bringing 2023 total to 27,000) https://www.seattletimes.com/business/amazon/amazon-reports-6-7-billion-net-income-as-cloud-computing-stabilized/ https://www.seattletimes.com/business/amazon/amazon-reports-... (A year after historic loss, Amazon posts $6.7 billion quarterly profit)

GiorgioG 3y ago
It's almost as if corporations only care about their shareholders and give zero shits about their employees.
- piva00 3y ago
  [flagged]
  - ogn3rd 3y ago
    we could go back to welfare capitalism, the way it worked before shareholder capitalism.
    - deleted 3y ago
      [deleted]
- throwaway5959 3y ago
  I always thought this was obvious. That’s why we need regulation.
  - klardotsh 3y ago
    This is also why we need unions.
  - RestlessMind 3y ago
    what regulations would you propose?
    - 6D794163636F756 3y ago
      Take a look at worker and consumer protections in the EU and you'd be heading in the right direction. Or what we used to have. The minimum wage was original a living wage. Specifically it was designed so the worker was doing more than just surviving.
      - RestlessMind 3y ago
        > worker and consumer protections in the EU and you'd be heading in the right direction Youth unemployment rate in France was 17-18% in 2022. Even today, it is 16% - https://tradingeconomics.com/france/youth-unemployment-rate https://tradingeconomics.com/france/youth-unemployment-rate Seems like existing workers are being protected at the cost of new entrants. Utterly predictable, since companies will be hesitant to set up shop in France because of onerous process of firing low performers.
    - iamacyborg 3y ago
      Doing away with at will employment would probably be a good start.

fatnoah 3y ago

> It's right out in the open that many companies are making enormous profits and giving out astonishing executive bonuses, at the same time as freezing salaries and layoffs. I started my career at a large defense contractor. This was long ago, back when one had a mail cubby to receive memos and the link. I remember receiving one memo that stated: 1. The company didn't hit the metrics needed to trigger profit-sharing with the employees 2. The executive team had different metrics which were hit, so they'd get bonuses It was a good life lesson for 22 year-old me.