Layoff Collusion
Seems weird to me that Microsoft, Google, Meta, Amazon (probably others) all laid off in the 10-18K range. These companies all have disparate head count in Eng. Tinfoil hat time… Do you think there was some joint agreement between companies to layoff and flood the market to jointly fight SWE wages? I understand it’s for overhiring, the stock price, blah blah blah. But a lot of these companies still print $$$…
tech companies are always working against workers. since when were they your friends?
Elon basically fucked it up for everyone by doing a 75% cut in twitter Now every CEO thinks.. hurr durr claim responsibility… cut 10k jobs… flood market while making record profits. Make everyone work and cut costs.. ohh and then when everyone is quiet .. announce stock buybacks instead of giving raises and bonus to employees.. Hurr durr rant over
tech companies are bowing down to their investors
Easy to assume that once the first domino fell, the others just used it as an opportunity to pile on. At this point since the big tech announced layoffs, the small tech CEOs are like "uh we better too". With MSFT the only big tech that reported earnings thus far, it's clear to me that they are facing headwinds where their customers are not spending as much anymore. Will need to see this week with other earnings but seems like these companies are anticipating slowdown to continue through this year.
This already happened in the past and things in 2021 heavily favored employees: ridiculously high TC, full remote or workers make a fuss, perk expectations. I wouldn't be surprised if there was some collusion.
I don’t think they’re colluded as in meeting in a smoke-filled room. They’re just copying others monkey-style because it’s convenient.
Execs are all in the same social circles so yes.
They hire the same consulting companies and are on each others boards.
"Hey guys, Jassy here and I'm doing the 10k Layoff TikTok challenge! I nominate Google and Microsoft next! Okay, here goes!"
🤣🤣🤣
Someone please deepfake this lol
Layoffs are results of stocks going down. Just like crazy hiring is a result of it going up. Just watch the stock market with a 6 to 9 month lag. When tech stocks went up, they hired like crazy and now they went down. Any examples of layoffs of a tech stock that is still high?
Not collusion. But competition yes. If competitor is cutting to save money and end up with more profit. You have to match, do something else that’ll have same effect or fall behind.
Dude: do you know how macroeconomics (raising unemployment levels to lower inflation) affects the stock market? That the answer of your conspiracy theory: corporations are “helping themselves” to keep the stock up by increasing unemployment. They are definitely working against workers. But this is not new. 🤌🏽When have you heard salaries are going up?