@Mer__edith
Yep. The rolling layoffs at tech cos with obscene profits is purely a shakedown of staff.
Musk showed how badly you could treat tech workers - and they're all racing to do the same. I expect massive offshoring soon.
@davebyrne @Mer__edith no. This was implemented by a few very visible, unusually high paying, companies (including Microsoft and parts of Amazon), and small copycats who had no business being copycats.
Afaik, all have, at least, softened the approach, because it's obviously detrimental to retention and culture. Most have eliminated the practice, entirely.
This article has a different take though. Your thoughts? In a nutshell:
The layoffs are part of a new age of bossism, the notion that management has given up too much control and must wrest it back from employees. After two decades of fighting for talent, chief executives are using this period to adjust for years of management indulgence that left them with a generation of entitled workers.
The industry is facing an uneven macroeconomic environment and a roiling stock market that is putting pressure on public tech companies and making for a less-than-ideal I.P.O. environment for private ones.
Tech chief executives are now optimizing more for profitability than for growth at all costs, sometimes at the expense of long-held organizational beliefs.
For nearly two decades, tech companies heralded an approach that centered on making workers happy with benefits that were intended to seamlessly integrate work and life. They made well-being programs and unlimited vacation, initiatives that prioritized the whole person, standard employee benefits. But now that's changing very fast.
@Mer__edith —holy hell meredith
i need to sit down now
@Mer__edith @twersh it's almost like "look how competent and keen we are with the economy: we are laying off tens of thousands of people."
And "what? You are not laying off tens of thousands? You are not fit to be CEO."
As layoffs in the tech sector mount, Stanford Graduate School of Business Professor Jeffrey Pfeffer is worried. Research – by him, and others – has shown that the stress layoffs create takes a devastating toll on behavioral and physical health and increases mortality and morbidity substantially. Layoffs literally kill people, he said.
@twersh @Mer__edith Tony, is there room in your theory for the palpable fury among the VC types against empowered tech workers? I am putting together from a few sources that they feel tremendous, overflowing resentment against us. They seem compelled to reassert the natural order of things: workers should flinch when capital speaks.
Listen to VC Josh Wolfe here: https://overcast.fm/+XxhDHF2RM ; and read Elon’s discovered texts through this lens and in the context of the collective rage at Twitter employees and over 
.
I believe the current tech situation can’t be understood without considering the affective dimension. These aren’t cold-eyed business decisions.
Ryan sat down with , co-founder of Lux Capital, in his New York office earlier this month to talk about why he is drawn to invest in companies working on national security challenges. But the conversation covered much more than that. They covered…
@fivetonsflax @twersh @Mer__edith
Layoffs are happening because Chris Hohn, manager of TCI hedge fund, has ordered Google, Facebook etc to do so.
This hedge fund manager lost money in 2022 making bad stock market bets. He terrorizes companies using Saudi money.
https://techstory.in/tci-fund-ceo-chris-hohn-calls-for-more-layoffs-and-salary-cuts-at-google/
@Npars01 @twersh @Mer__edith Very interesting, thank you.
Maybe I should just say capitalists have it in for tech workers. Or that capitalists have it in for workers, lol.
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