Mastodawn

EVHaste Jan 20, 2023

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.

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toxtethogrady Jan 20, 2023

@Haste I suspected it was coordinated. But they are playing with a certain amount of fire, because the employees they cashier may decide to never come back. Or they may come back as competitors...

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Stanley Black-Decker Jan 21, 2023

@toxtethogrady @Haste It's absolutely coordinated

Their stocks go up after layoffs: investors are rewarding them because this is what investors are demanding

because the alternative way to combat inflation is to tax the investor class

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toxtethogrady

@pleaseclap @Haste The tendency for investors to reward them for behavior that the man on the street would regard as a signal of financial distress shows how screwed up the investing community is. One has to wonder what the incentives are...