3 ms·
Don't work to do what? If you think layoffs are about efficiency or saving the company, at least in tech you couldn't be more wrong. Companies like Meta and Goo
by jmyeet 2y ago
Don't work to do what? If you think layoffs are about efficiency or saving the company, at least in tech you couldn't be more wrong. Companies like Meta and Google have done multiple rounds of layoffs despite being insanely profitable and never taking a loss.
The real purpose of layoffs is to get people to do more work for the same or less money (by firing people and distributing their responsibilities to those who remain) and to suppress wages because nobody is asking for raises when they fear for their jobs.
Big Tech is really out of ways to grow their business. The only way they can keep growing profits is by cutting costs and the biggest cost is labor. It's really that simple.