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Well how about thinking stakeholders first and shareholders second? Firing your employees because you are incompetent leadership and management without good fo
by myspy 3y ago
Well how about thinking stakeholders first and shareholders second?
Firing your employees because you are incompetent leadership and management without good foresight should result in letting you go.
Why the high compensation for leadership when it doesn‘t know what it does?
Braun didn‘t get the design leader in the past because they threw out their team, they got there because they kept the team together. The more you learn the better for the company.
This goes for all tech related job cutting in the last months.
- deelowe 3y agoNonsense. You didn't address my point... Tech is disproportionately affected by rate changes (both inflation and loans/bonds), as it's the highest growth sector. High growth businesses are investing heavily in infrastructure and as such are also highly leveraged.
- myspy 3y agoWell vice versa great answer. Who planed and executed a strategy like this and why isn‘t it done in a way to not get as much employees which would lead into them getting laid off? Why getting cheap money without taking into account that the situation is different in 5 years? I couldn’t care less that growth businesses run into this situation. Then don‘t grow it so fast! People are getting fired across so many businesses. It appears unlikely they will get another job soon. The situation leads to health problems and has ramifications for people. Fucking management can do whatever they want. They still get highly compensated.
- deelowe 3y agoWhat? I addressed your comment. I'll make it simpler: you are spouting nonsense. Spotify didn't "plan and execute" anything. The current situation was brought on by 2 decades of quantitative easing and then multiple black swan events and even more cash injection until it all came crumbling down. The amount of blame you place on the board of a single company to combat what is essentially a global crisis brought on by actions taken by world governments is extremely naive. Spotify isn't alone in this. Nearly every big tech company has had layoffs and I don't think we're anywhere close to being done yet. I hear rumors more are coming for mamaa.
- hotpotamus 3y agoThere are large forces that affect our lives that are beyond our control which cause us anxiety. We can deal with this in different ways; religion, government, or employers are all authorities who we may believe can help us through times of need (our healthcare, for some of us our literal ability to continue living, is tied up in our employment, at least in the US). It’s only natural that we run into problems when our bulwark against the uncertainties of the world is taken away. And then tie up the prestige of working for FAANG and the identity that comes with it, to learn that perhaps you weren’t so special; you were just caught up in a ZIRP phenomenon - it can be hard for an individual to take.
- deelowe 3y agoI don't disagree, but we all need to strive to do better. Pleading with perceived corporate overloads to fix problems they are simply victims of themselves isn't helping anything. I'm seeing this trend more and more where people want to blame ceos like they have some magical wand to fix the worlds problems. That's not how things work. If we want to look for solutions, we should look at the 20 years of stimulus which go us here and question why this was happening and what we should have been doing about it. But, alas, few were complaining when they were able to get 500k loans with sub 3 interest rates...
- hotpotamus 3y agoHow do things work? From what I can tell (speaking as an American), we do seem to have imbued corporate leaders with a reverence classically reserved for religious leaders. And who else are we supposed to look to? God is dead, and 40-odd years of starve the beast has left the government with seemingly few policy tools to enact change; though as you note they can still change interest rates and print money. Hopefully someone will come along and save us, but it's hard to imagine who.
- deelowe 3y agoThe government printed the money. They are the issue. Corporations compete with each other for survival, they cannot afford to be altruistic and expecting them to be is totally naive
- lotsofpulp 3y agoHow much more money do you want Spotify to lose? https://www.macrotrends.net/stocks/charts/SPOT/spotify-technology/net-income https://www.macrotrends.net/stocks/charts/SPOT/spotify-techn... https://dqydj.com/stock-return-calculator/ https://dqydj.com/stock-return-calculator/ https://dqydj.com/sp-500-return-calculator/ https://dqydj.com/sp-500-return-calculator/ Shareholders have a 1.52% return since it went public, Apr 2018. A riskless investment in sp500 earned 11.7% since Apr 2018. How much more do you want shareholders to lose? They have been losing 10%+ per year for 5.5 years.
- myspy 3y agoI‘m no business major, I have no clue how to handle a company on a stock market. But the results I see is that leadership took steps that let into people loosing their jobs. Why are shareholders and management so important and employees at the branches are not? Everyone in that chain should be taken into account.
- deleted 3y ago[deleted]
- lotsofpulp 3y agoDo you have a specific claim or question, or is this an emotional response anytime employees are let go? I already showed you that shareholders have been losing money for 5.5 years (while employees were being paid).
- myspy 3y agoYeah this emotional because it makes no sense. The system appears to be not working.
- gretch 3y agoThe system literally is working. Spotify still exists and you can get music there. Most employees kept their job. The system that’s not working is literally the one in your head. Literally, your imagined ideals sign zero paychecks and add no value.
- broast 3y agoI tend to think the overhiring was not a "mistake" but planned. They still get to keep all the intellectual output of the people they let go.