Abandoned AmericaThe tech layoffs really illustrate how the wealthy like to use workers to construct a system of profit for their business, and then shut off all outlets for that profit to reach those very workers once the system is in place
SamIt just blows my mind how much of life is living on a trapdoor other people deliberately build beneath you so they can drop you when it makes them some more money they don't even need. I get it if a business is sinking and needs to let people go to stay afloat. But when they have record profits? Even though I expect nothing more it still astonishes me sometimes
We all say, yeah, wow, this timeline sucks but the amount of damage done by greed of this kind is incalculable, both in terms of things that won't be accomplished, and the devastation of employees' lives. It should blow our minds, every time mass layoffs happen anywhere.
If you've lost your job from them, I'm so sorry. I wish you luck and courage through it.
Simon Hain@AbandonedAmerica it seems to me like a mass hysteria, everybody does it so we have to do it as well. Probably destroying a lot of valuable projects as well, and leaving the remaining people struggling.
@SimonHain right. That's the damage I'm talking about. We have no idea how damaging it is in the moment but it's always going to exceed our estimates
Materials ScientistAs a minority opinion: who is ultimately responsible for this behavior? Look in the mirror.
It is us who demand return on investment from stocks and bonds that have created this monster. From those of us that have money to those of us that want money.
We have only ourselves to blame.
@silverman I don't demand return on investment from stocks and bonds tbh
MHRev 👹🤡@AbandonedAmerica
Shareholder value!!!! Quarterly revenue growth!!!
Shareholder value!!!! Quarterly revenue growth!!!
@MHR989 the ravings of those who have poison in their hearts
@AbandonedAmerica FFS, think about the hedge funds!!! How can humanity exist without proper ROI for hedge funds???🤑🤮
Evelyn@AbandonedAmerica We are not that far from wild animals who tear each other apart with bloody teeth and claws. We just do it with shoes on and in writing.
Pat
@PBruce absolutely
JW prince of CPH@AbandonedAmerica it always reminds my of hearing the story about how the WD-40 company - yes, that one - decided, when the 2008 crash happened, that they wouldn't lay off a single employee, and didn't. For the record, they got through the crisis just fine and profitably.
Basically, those businesses either don't have to fire all those people, but choose to anyway - or they're bad at being businesses...
@jwcph hey, good on them. It's a sign of weakness both as a business and in leadership to can massive amounts of people
Christopher Neitzert@AbandonedAmerica i'm really liking the way Germany and Swedish labor unions, yes they have them for exec/leadership also, force the companies to deal with layoffs, i wish my friends back home would check this out and emulate it, for this setup provides much more protections for the person and holds the corporation to their commitments. I've also been laid off several times in the USA.
@xenophile yeah, the dismantling of unions has really not worked out well for labor, surprisingly
Hasufin@AbandonedAmerica I feel like maybe there should be a fine to the C-levels based on the number of people they lay off. Not insurmountable, say $50/employee, but make it directly hurt for doing it.
@Hasufin I'd like to see them regulate the max level of a CEO's salary too
@AbandonedAmerica That wouldn't make any difference. Many CEOs make only a nominal salary. Their compensation is in stock price and perks.Which both means that their lifestyle isn't tied to their income, and they are incentivized to manipulate stock price.
@Hasufin ahhhh well they still make a huge amount compared to workers though