3 ms·

Court Rejects Silicon Valley Hiring Settlement

39 points by igonvalue 12y ago

deleted 12y ago
[deleted]
- jessriedel 12y ago
  Incidentally, when did the NYTimes start making making it difficult to copy article text to the clipboard? Infuriating...
  - geebee 12y ago
    the link here appears to be to the mobile site, maybe the mobile formatting might be part of the problem... Here's a HN link around the main page site:https://news.ycombinator.com/item?id=8155651 https://news.ycombinator.com/item?id=8155651 http://www.nytimes.com/2014/08/09/technology/settlement-rejected-in-silicon-valley-hiring-case.html http://www.nytimes.com/2014/08/09/technology/settlement-reje...
hga 12y ago
Major discussion of this here: https://news.ycombinator.com/item?id=8154730 https://news.ycombinator.com/item?id=8154730
revelation 12y ago
Here is the primary source: http://de.scribd.com/doc/236259646/Koh-Rejects-No-poach-Settlement http://de.scribd.com/doc/236259646/Koh-Rejects-No-poach-Sett...
gaius 12y ago
Apple makes an annual revenue of $2m/employee. To put that into perspective, Goldman Sachs makes about $1.2m/employee. Apple has a perfectly good mechanism at it's disposal for retaining staff - pay them more. I hope they get taken to the cleaners over this.
- rayiner 12y ago
  What's even more telling is that engineers probably make up a smaller percentage of Apple's employees than bankers make up Goldman's employees (since the latter doesn't have much of a consumer retail presence). The engineers and designers at Apple are generating tremendous value for the company, but not getting compensated anywhere near the bankers at Goldman. People might not like banking as an industry, but it has the right approach to hiring. Instead of colluding to suppress wages or preserve relationships or whatever justification tech companies use, they write big bonus checks. That's how a free labor market is supposed to work.
  - harryh 12y ago
    You think this has to do more with cultural differences due to Goldman's historical roots as a partnership, or with structural differences in the banking vs technology industries?
    - apu 12y ago
      And has this been true historically for the banking industry? Or did the workers claw more and more of the compensation over time?
      - harryh 12y ago
        Definitely true historically. Probably even more so. All the big banks used to be partnerships (like law firms) not public companies beholden to stockholders.
    - rayiner 12y ago
      I think you're right that part of the explanation is that the investment banks, having evolved from partnerships, don't really care what shareholders think. What I find interesting is the acqui-hire phenomenon. Instead of paying a $10 million signing bonus for a top prospect, they acquire his company just for him and his team with no intention of using the company's product.
- 12y ago

39 points by igonvalue 12y ago

deleted 12y ago

[deleted]

jessriedel 12y ago
Incidentally, when did the NYTimes start making making it difficult to copy article text to the clipboard? Infuriating...
- geebee 12y ago
  the link here appears to be to the mobile site, maybe the mobile formatting might be part of the problem... Here's a HN link around the main page site:https://news.ycombinator.com/item?id=8155651 https://news.ycombinator.com/item?id=8155651 http://www.nytimes.com/2014/08/09/technology/settlement-rejected-in-silicon-valley-hiring-case.html http://www.nytimes.com/2014/08/09/technology/settlement-reje...

hga 12y ago

Major discussion of this here: https://news.ycombinator.com/item?id=8154730 https://news.ycombinator.com/item?id=8154730

revelation 12y ago

Here is the primary source: http://de.scribd.com/doc/236259646/Koh-Rejects-No-poach-Settlement http://de.scribd.com/doc/236259646/Koh-Rejects-No-poach-Sett...

gaius 12y ago

Apple makes an annual revenue of $2m/employee. To put that into perspective, Goldman Sachs makes about $1.2m/employee. Apple has a perfectly good mechanism at it's disposal for retaining staff - pay them more. I hope they get taken to the cleaners over this.

rayiner 12y ago
What's even more telling is that engineers probably make up a smaller percentage of Apple's employees than bankers make up Goldman's employees (since the latter doesn't have much of a consumer retail presence). The engineers and designers at Apple are generating tremendous value for the company, but not getting compensated anywhere near the bankers at Goldman. People might not like banking as an industry, but it has the right approach to hiring. Instead of colluding to suppress wages or preserve relationships or whatever justification tech companies use, they write big bonus checks. That's how a free labor market is supposed to work.
- harryh 12y ago
  You think this has to do more with cultural differences due to Goldman's historical roots as a partnership, or with structural differences in the banking vs technology industries?
  - apu 12y ago
    And has this been true historically for the banking industry? Or did the workers claw more and more of the compensation over time?
    - harryh 12y ago
      Definitely true historically. Probably even more so. All the big banks used to be partnerships (like law firms) not public companies beholden to stockholders.
  - rayiner 12y ago
    I think you're right that part of the explanation is that the investment banks, having evolved from partnerships, don't really care what shareholders think. What I find interesting is the acqui-hire phenomenon. Instead of paying a $10 million signing bonus for a top prospect, they acquire his company just for him and his team with no intention of using the company's product.
12y ago