3 ms·

Is there some reason all of these layoffs are happening today?

by moneywoes 3y ago

sbierwagen 3y ago
Quarterly earnings.
FanaHOVA 3y ago
MSFT earnings are in 8 days
cj 3y ago
Microsoft (who owns LinkedIn) reports quarterly earnings in ~1 week. For public companies, timing it around an earnings call can help control the narrative since the company will have a chance to explain to investors why the action wwill increase shareholder value.
- criddell 3y ago
  When I read these stories, all I really hear is that these companies have lost all ability to innovate and invent. They've spent a fortune on these people, carefully choosing and then tuning them to be experts in the business and now they can't think of anything for them to do? They should be embarrassed.
  - pembrook 3y ago
    That’s one way to look at it. Or, it could just be that, during the covid boom years they overhired to support growth that never materialized, and now they’re stuck with a bunch of overpaid freeloaders (sitting at the top of each salary band) who are neither experts in the business nor uniquely talented/useful/needed.
    - JohnFen 3y ago
      > now they’re stuck with a bunch of overpaid freeloaders Interesting how even though in this scenario it's the company that did the wrong thing, it's somehow not possible to mention it without putting some blame on, and insulting, the employees that were hired.
      - pembrook 3y ago
        You’re correct, it’s unfair of me to insult newer FAANGM employees without also insulting the lazy, overpaid, freeloading lifers who set the wrong hiring targets at said companies. I use the term freeloader because the truth is…network effects exploit an inefficiency in human social dynamics that’s so powerful, it produces monopoly-level market capture and profits. So it’s a fair assumption to make that anyone hired at a network Monopoly money machine like LinkedIn will, inevitably, turn into a do-nothing freeloader (not necessarily through any fault of their own).
    - oblio 3y ago
      Growth that never materialized?!? https://companiesmarketcap.com/microsoft/revenue/ https://companiesmarketcap.com/microsoft/revenue/ They're all bullshit factories. They grew like crazy and are still growing but depressing the tech job market is more important. Why have $1 million in profit per employee when you could have $1.05 million, lives be damned?
discordance 3y ago
Ritual sacrifice to the quarterly gods
- jppope 3y ago
  excellent phrasing. going to need to steal this

Is there some reason all of these layoffs are happening today?

sbierwagen 3y ago

Quarterly earnings.

FanaHOVA 3y ago

MSFT earnings are in 8 days

cj 3y ago

Microsoft (who owns LinkedIn) reports quarterly earnings in ~1 week. For public companies, timing it around an earnings call can help control the narrative since the company will have a chance to explain to investors why the action wwill increase shareholder value.

criddell 3y ago
When I read these stories, all I really hear is that these companies have lost all ability to innovate and invent. They've spent a fortune on these people, carefully choosing and then tuning them to be experts in the business and now they can't think of anything for them to do? They should be embarrassed.
- pembrook 3y ago
  That’s one way to look at it. Or, it could just be that, during the covid boom years they overhired to support growth that never materialized, and now they’re stuck with a bunch of overpaid freeloaders (sitting at the top of each salary band) who are neither experts in the business nor uniquely talented/useful/needed.
  - JohnFen 3y ago
    > now they’re stuck with a bunch of overpaid freeloaders Interesting how even though in this scenario it's the company that did the wrong thing, it's somehow not possible to mention it without putting some blame on, and insulting, the employees that were hired.
    - pembrook 3y ago
      You’re correct, it’s unfair of me to insult newer FAANGM employees without also insulting the lazy, overpaid, freeloading lifers who set the wrong hiring targets at said companies. I use the term freeloader because the truth is…network effects exploit an inefficiency in human social dynamics that’s so powerful, it produces monopoly-level market capture and profits. So it’s a fair assumption to make that anyone hired at a network Monopoly money machine like LinkedIn will, inevitably, turn into a do-nothing freeloader (not necessarily through any fault of their own).
  - oblio 3y ago
    Growth that never materialized?!? https://companiesmarketcap.com/microsoft/revenue/ https://companiesmarketcap.com/microsoft/revenue/ They're all bullshit factories. They grew like crazy and are still growing but depressing the tech job market is more important. Why have $1 million in profit per employee when you could have $1.05 million, lives be damned?

discordance 3y ago

Ritual sacrifice to the quarterly gods

jppope 3y ago
excellent phrasing. going to need to steal this