The comp cut thing is going to be interesting to see play out, because that comp is why most people put up with working at places like that. They’re selling their morals. And I can’t honestly blame them that much, considering how unforgiving and brutal the socioeconomic system in this country has become.
“Stock price is low, so you should reduce employee’s stock options”
He sees employees’ stock options as competition for the stocks. Add in the job cuts he wants and the company will be selling all those employee’s unvested stock options at a low price.
And of course stock prices shoot up soon after job cuts
Markdown link is the other way around [text](link)
On lemmy, you do it like this so it embeds inline: https://imgflip.com/s/meme/Zorg.jpg
… and lets say reduce for about a 100.00% … this marginal, poor, repressed, scrutinized group of (technically) people need to be put helped out of their misery, it’s the humane & eco-friendly thing to do.
He’s just a finance guy. They don’t understand maintenance & ongoing operations/support of software can take nearly as many people as development. They hear “pRoJeCT dOnE” and wonder what those employees are working on after launch.
Please kill Christopher Hahn, rape his corpse, impale him through the anus with a spear, display his severed head at the entrance of the city, use this obvious heroic act to make your introduction to politics, with the ultimate goal to get a law passed that get psychopaths like him treated young, or simply disposed of if it’s too late and they’ve hurt (or intend to hurt) too many.
I mean, if you’re not busy or anything. Thanks.
Yours sincerely, because I hate myself and want to die, frfr on God no cap, just kill me if you see me, everyone can help with the execution, I give you explicit permission, regardless of local laws,
He’s saying lay off to 150k, not by 150k. He says getting down to that would be a 20% reduction, so that puts the then-current headcount at ~188k, so get rid of about 35-40k people.
I’m saying his complete disregard for these employees as people, with families, and lives, is unaffected by the difference. He’s proposing to fire 30,000+ people so that a number in his portfolio can grow. A number that he doesn’t need, and will never spend. He’s a fucking psychopath, regardless of it being 30k, 40k, or 150k.
35k is a pretty huge amount better than 150k. Are you just trying to say that it sucks either way? Because that I agree with, but when we criticize things, we should at least have the numbers right.
Yes, I’m saying he’s a psychopath regardless of the numerical error. He’s talking about destroying the livelihood of tens of thousands of people, just so he can make some more money he doesn’t need, and could never spend. So it doesn’t really matter if it’s 30k, 40k, or 150k. He would propose anything that benefits him personally, regardless of the suffering it causes.
Kinda glad I work in government/heavy industry. The highs aren’t very high and the lows aren’t very low. I will never be rich but I also will never be unemployed for over a week by choice.
The average time a software engineer, regardless of level, stays at a big tech company is around 18-24 months. That, surprisingly, hasn’t changed with the market slowing. Many are still taking jobs at a higher level at smaller companies, or leaving to do other things.
Given the severance paid out for many of these employees, alongside the operational damage caused, it’s likely that the people they laid off or forced out would have already left for another role. Funny enough, many of the companies that laid thousands of people off are still hiring external candidates, or people on boomerang deals to return to the company after 6-12 months.
It was always a short-sighted move, triggered by everyone else doing the same thing. While you’re not wrong, I don’t have enough faith in these companies to run things for the benefit of their current employees.
Lol there’s a stub titled “investor activism” under which this letter falls under. Jesus fucking christ, when you’re a billionaire it’s not “activism” it’s just straight up human manipulation
And that’s how the owners control us in perpetuity.
Blue collar vs white collar.
The homed vs the homeless for lowering their property values.
Red vs blue and the race wars too.
Etc.
There are only 3,000 billionaires on Earth. Extrapolate that down to people with triple digit millions in net worth, about 28,000 people on Earth worth more than 100 million, and you’ve found humanity’s common enemies manipulating us into beating one another down when not making them more money.
Our common enemies are tiny in number, a few tens of thousands lording over billions, but they manipulate us into fighting each other.
I don’t disagree, but they are a symptom, not the root issue.
But hey, nevermind. I think they stole a few of our cookies. Some guy in a suit sitting on a mountain of cookies yelled down to warn me about them. Great guy, think his name was Warren.
I think if you realized how out of touch it is for somebody in the top 2% of income earners in the world to state that they are exploiting themselves sounds to other people, you probably wouldn’t have said it.
Haha 1) I don't care, 2) I'm not even close to the top 2%. I'm a broke college student who would be skipping meals if it weren't for the SAVE plan. I ended that business because $100/hr didn't leave enough for me to live on after covering my business expenses, so it wasn't worth my time (which it shared with classes and an internship). For a consulting fee in a Western country, $150/hr is pretty much par and hardly excessive.
A person who makes $300,000 per year (which is roughly $150 an hour) is in the top 2% of world income.
A small side business owner who bills clients $100 an hour is a completely separate conversation that I have to wonder why you would even bring it up unless obfuscation of my original point was the intent.
You’re fixated on the hourly cost and not taking into account expenses. Also, in the US freelancers have to buy their own health insurance and equipment which is insanely expensive.
Freelancers also don’t get full billing because they are not working all the time, so that 150/hour has tom over all the down time when work is not available. Freelancers also pay their own taxes and pension plans.
You’re just out of touch with operating costs for freelancers so maybe stop before you do some homework.
… This discussion is about former google employees not the contract work a commentor here used to do.
You are the second person attempting to make it about being a freelancer. I’m not interested. I would however be interested if you are going to discuss what I said in the context of the discussion.
Yeah I see what you mean. My bad. I did get fixated on the guy’s freelance thing. That being said, you should take COL into consideration when talking pay. I haven’t lived in the US in quite a while so I’m not sure what 300k gets you in some places like the west coast.
Irish immigrants and African free men were dangerously close to joining forces against the “captains of industry” in New England. Solution? They made the Irishmen into cops.
Those people are the best argument for increasing wages and conditions across the board.
Say whatever about big tech, it’s undeniable that they have been immensely successful - financially, in innovation and cultural significance. We can then go, “see if you treat your employees well and pay them well they give a shit about your company and perform well”. That’s how we leverage the good conditions of one group to fight for all groups. Divided, we fall.
They’ve written one like that to every tech company. It’s probably just so they can repeat the conditions from before they got sued for colluding to depress employee wages. This has the same effect, except this time it’s not collusion, it’s doing their fiduciary duty because shareholders are demanding it.
they can fire and change who governs the board by using their majority share holder votes (which has been selecting short term max profit guys) but it’s a myth that they have a legal responsibility to return anything to shareholders
Fiduciary duty is real, in many jurisdictions at least. It means that the executives of a company are required to act in the best interest of the shareholders. In 99% of the cases what shareholders want is maximum profit.
But really, in almost every case where someone is found to be guilty of breaching this duty, it’s because they actually actively did something fraudulent. Otherwise it’s much easier for the shareholders or board to just fire the problematic people and get new ones. It’s not like being incompetent is a crime.
Sundar Pichai getting roasted by his peers for not being hardcore enough lmao.
“You barely emaciated the livelihoods of any workers this year, Sundar. Lookit how happy your employees are, it’s a fuckin disgrace, mate. Take a look at the stock price. It’s fookin depressed mate!”
