Make no mistake, the tsunami of #tech #layoffs is not about the recession. It’s about striking back at “uppity” labor, after they enjoyed a shift in the balance of power from #remotework and DEI #activism .
These companies are reporting record profits. Inflation is just cover. It’s because they can, because there’s social cover for it, because there’s money left on the table and having “some” money isn’t enough.
It’s nothing short of class warfare.
@Haste Citation needed.
You don't only lay people off because you're about to run out of money. You also do it because you realize you hired too many guys. Which they did, people had loads of capital they wanted to invest somewhere and they thought the pandemic might create a permanent shift to use websites more which never really happened
@edmundedgar @Haste The correct take.
What people don't also realize is the chain of command's role in this. Managers, directors, VPs see it coming but don't change direction, leading to their teams getting cut and employees being unhappy with the company rather than realizing that their own leaders threw them under the bus.
The same management that blew their entire budget increasing headcount while under-delivering, and thousands of workers are the collateral.
It's another unfortunate reality that you can only help low ROI teams for so long until the discrepancy becomes too noticeable.
EVHaste
Edmund Edgar
LeviathanHunt
Paul Quirk