Watch: https://youtu.be/ECcch4cbmb8 Say what you want about Dave Ramsey but he has a point here: Conducting mass layoffs in order to increase profits doesn’t make sense (especially seeing how labor is an input required to grow revenues). It would make more sense to watch how each business unit performs during the recessionary period and if earnings falls substantially in that unit then you consider right-sizing (which can look like reorgs and/or layoffs). Many of these companies performing mass layoffs are actually still making gobs of money 🤮
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Isn’t that the result of most of the layoffs we’re seeing?? Amazon’s big chuck of layoffs came out of Alexa. Google’s seems to be a lot of recruiting, and latest meta is very specific about turning the organization into something flatter. I’d doesn’t look like they are blindly layoff in mass, but actually saw a problem and are trying to get rid of the inefficiency
The dude is an idiot. Literally recommends paying off smaller lower interest debt before larger higher interest debt. That is literally throwing money away on interest expenses. What little he knows about personal finance does not transfer to running an S&P 500 company or understanding macroeconomics.
That is why they have to keep importing h1bs after they burned everone else.
Lol no. I’d much rather work for big tech for $250k for a few years and get “burned” with a layoff, paid a fat severance, and maybe be unemployed for a while than work for one of the small business he’s talking up that “won’t screw you” and get paid 80k per year until the owner sells for millions of which I will get none.
His advice is not applicable to 300k TC tech bros. But it does make sense for average Americans with 3 credit cards and 600 car payments on a 30K salary.
@Showtime$$ Dave is right. Where has the humanity gone? Human beings actually crave and need some semblance of empathy and compassion. Otherwise a lack of human connection puts us at risk of Mass Formation all over again 🫳🏽🎤
Dave is absu-freaking-lutly right!!!
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He’s an idiot. Ask any financially educated person.
He's not ideal and definitely not optimal, but if you're actually horribly undisciplined when it comes to spending money there are much worse things out there than this Tennessee Grandpa yelling at you over the phone.
Quite bold statement Lyft.