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One reason I think not given enough weight is that it is now acceptable to do layoffs. These huge companies accrue a ton of dead weight and dead-end projects th
by lubujackson 3y ago
One reason I think not given enough weight is that it is now acceptable to do layoffs. These huge companies accrue a ton of dead weight and dead-end projects that they would love to flush routinely, but 5 years ago their stock prices would halve if they suddenly laid off 10% of their work force because of bad optics. Now it has become acceptable for all the various reasons so any company that wants to clean house is going to clean house.
- yangcheng 3y agoAgree, twitter layoff set an example that it's ok to layoff. Then all FAANG followed
- starbugs 3y agoI must say I have no idea if this is actually true, but sure as hell it feels like exactly that's what has happened. Twitter basically made an example that made layoffs a valid option in the heads of many people I guess.
- AtlasBarfed 3y agoMusk's bet, that every executive watched like a hawk, was to fire a whole bunch of "spoiled expensive developers" who would flap their wings about the sky falling (their perspective). If Musk simply wanted to cut costs and get Twitter to the core of its profitability because the company had pretty much peaked, then it was a valid business plan in the Gordon Gecko realm. But Elon talked out of all parts of his mouth nonstop, said he wanted vision and features but fired and hired for maintenance. It's weird that all the other companies too that as direction for their layoffs. Executives were appalled at their lack of power in COVID too. I think the layoffs are an attempt to gain authority, I don't even think it is about the dollars and cents. Elites don't actually care about how rich they are after a certain point, what they care about is the gap between them and the "plebes", and the developer plebes were far too uppity in their view.
- VirusNewbie 3y agoExcept Twitter is trying to hire a ton of people right now... I think they need more engineers pretty bad and Elon knows it.
- mooreds 3y agoWow that is a pretty long list: https://careers.twitter.com/en https://careers.twitter.com/en Wonder if all of them are real?
- gniv 3y agoAlso, they may want to create a habit of January layoffs, as a "stick" to go with the great-TC "carrot".
- nitwit005 3y agoYep, executives just copy each other all the time. They start thinking about layoffs when other companies in the industry are doing it. My company is discussing having people show up three days a week in the office. The only justification mentioned was that other companies are doing it. I am quite doubtful they did any sort of analysis to ensure it's a good idea.