These layoffs aren’t because companies don’t have money to pay us, it’s to remind us that, as workers we are insects that can be crushed by our CEO overlords. It’s a concentrated effort to reduce swe pay. Mark Zuckerberg spent 40 billion on buybacks after laying off 11000 employees. Google is one of the most profitable companies in the world. Amazon still made billions of dollars in pure profit this year. This isn’t some conspiracy theory, google and apple were sued for millions in the 2000s for coordinating to depress tech wages. https://en.m.wikipedia.org/wiki/High-Tech_Employee_Antitrust_Litigation#Civil_class_action Don’t settle for less if you don’t have to. Or else the big tech CEOs win. #tech #layoffs #faang #meta TC 300
“If you don’t have to”. - a lot of people have to.
This is business, don’t take it personally. Instead use it to your advantage
I agree with this post. What happened in 2000s ?
https://en.m.wikipedia.org/wiki/High-Tech_Employee_Antitrust_Litigation#Civil_class_action
Non-laid-off people, like you, can all quit, making room for companies to compete for talents, this could make CEOs lose!
The 40B belongs to the shareholders. It's being returned to them.
Lol
Accept lower offer first and then don't work until they raise it. If you do this in an organized way, they have no choice but to raise pays.
Best answer yet. Accept offer, quiet quit repeat.
Sounds like you'd be instantly signing up for PIP at Amazon
dude… there is no conspiracy by higher management nor companies think they need to instill fear in employees… it is very simple: 1. money became expensive 2, so investors will need a lot higher earnings growth of higher returns to justify investing in a company… if not they might as well invest in interest bearing invet 3. so they put pressure on ceo’s to increase earnings… so if the revenue is not growing as fast as expected, companies will be forced to find efficiencies and let go employees to boost earnings… as simple as that fed should not have juiced up the economy in 2021 when it was not needed and we would not have been in this mess now
Blaming the fed always makes me laugh... Lots of young people here. Quite frankly, the fed is to blame but for not starting raising the interest rates in 2013/2014 after we got out of the 2008 crisis. We'd never be in the business of free money, distorted financial markets (folks think that a 20% yearly return is normal) and we would not have to go through a housing market correction. Not even talking about the societal impact here (some folks think that getting a 500k TC makes them 10x superior to someone making 50k). Give the fed a break now that they finally do the right thing
There’s nothing lower than zero TC
Don't accept it. Show up to work regardless.
Not unless you have student loans to pay off (which you can't get forgiven anymore)
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Closed now - thank you all
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“Don’t settle for less if you don’t have to” hits different when you’re unemployed.
It's better to be unemployed for a month or so if paycut is like 20-40%
Hits different when you are on a visa