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This is exactly how European companies do when they acquire American ones, especially "Tech" companies that have well-paid technical staff. You can hire in East
by xp84 1y ago
This is exactly how European companies do when they acquire American ones, especially "Tech" companies that have well-paid technical staff. You can hire in Eastern Europe for far less, and can hire in Western Europe for still a significant bargain compared to what engineers and associated people make in California - plus, dealing with an 8+ hour time difference is brutal compared to keeping it all in Europe.
A friend I know is going through such an acquisition, funny thing is it's a European company acquiring his, but owned by an American PE firm. The American PE firm knows that cutting-edge tech is developed by expensive engineers on the West Coast, but when it's time to milk a more mature company for cash flow, you want cheaper European staff.
- philipallstar 1y agoAlmost anywhere in America is also cheaper than California.
- pavel_lishin 1y agoYep. The NYC area is one exception. I've worked at a company that was acquired, and they laid off quite a few of the NYC-area employees. Rumor had it that some of them were making more than their managers, and their managers' managers.
- consp 1y ago> Rumor had it that some of them were making more than their managers, and their managers' managers. So on par with actual value created.
- deleted 1y ago[deleted]
- philipwhiuk 1y agoIt's pretty wild to describe Italy as 'Eastern Europe'
- heystefan 1y agoThey didn't describe Italy as Eastern Europe, they said you can hire in Eastern Europe for far less. Eg. you can do that from Italy and keep people in the same timezone and relatively close by.