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Capitalism works in dark ways sometimes. I believe these layoffs are almost entirely driven by the stock market. In COVID times everybody had a hiring boom bec
by cedws 3y ago
Capitalism works in dark ways sometimes. I believe these layoffs are almost entirely driven by the stock market.
In COVID times everybody had a hiring boom because it looked good to be hiring. So CEOs accelerated hiring, regardless of whether more manpower was actually needed. Now, it looks good to be laying people off in the name of "efficiency", so CEOs initiate layoffs to please the shareholders.
There is no actual logic here, whatever pumps the share price is the action taken because CEOs want a fat bonus. Most CEOs are parasites that do very little work other than warp the truth, lean into hypes, and make false promises. All while collecting a salary 100x the average worker's.
- _heimdall 3y agoYou can take this a step further and pin it on market manipulations by the federal reserve rather than the stock market itself. During the pandemic response trillions of dollars werr poured into the system, primarily by giving the new cash to banks at the top of the funnel. This money had to go somewhere and it was largely thrown at tech companies, seeing as they were more likely than other industries to continue to function when the government decided to shut down large portions of our society. Tech companies can only do so much with a huge influx in cash, hiring and stock buy backs are an easy way to burn through the cash and appear to be a healthy and growing company.
- 5350-uiop-1130 3y agoyes, companies buying their own stock with free money to inflate their share prices is the stage of post-value, growth capitalism we're in. and people wonder why apple stock price is constantly so high even though they've been creatively stagnant for almost a decade.
- deleted 3y ago[deleted]