2 ms·
I don't really buy the "evil money people pressured innocent big tech into firing under priviledged tech workers" narrative. First, big tech, tech and start-ups
by hef19898 3y ago
I don't really buy the "evil money people pressured innocent big tech into firing under priviledged tech workers" narrative. First, big tech, tech and start-ups have all the incentives to reduce headcount, and cost, without third party intervention. Second, a lot of companies over hired during Covid, and then corrected. Everybody else followed suit with general cost cutting measures. And again, no outside pressure needed.
Claiming otherwise, especially the way Wall Street is usually portrayed, smells of conspiracy theory BS. But I guess someone has to be responsible if someone elses comfotrable bursts through contact with reality.
- bananapub 3y ago> I don't really buy the "evil money people pressured innocent big tech into firing under priviledged tech workers" narrative. First, big tech, tech and start-ups have all the incentives to reduce headcount, and cost, without third party intervention. what incentive? Zuckerberg's or Pichai's etc income and stock wealth in the medium/long term is almost completely de-correlated with quarterly net profit or whatever, it's vibe-based, on if they look like masters of the universe who will continue to find ways to print money. their positions are also extremely safe for even stronger reasons - either dominating voting stock or being handpicked successors to the people who dominating voting stock. > Second, a lot of companies over hired during Covid, and then corrected. Everybody else followed suit with general cost cutting measures. And again, no outside pressure needed. ... then hire less, or be stricter with PIPs or whatever, obliterating morale with your first-ever secret overnight mass layoffs is very stupid.
- maximinus_thrax 3y ago> I don't really buy the "evil money people pressured innocent big tech into firing under priviledged tech workers" narrative https://www.reuters.com/technology/activists-back-off-salesforce-after-share-price-recovery-2023-08-15/ https://www.reuters.com/technology/activists-back-off-salesf... I don't believe anyone told them to fire people. It's just the quickest way to 'focus on profitability'.