Left out Imperva, which was bought by Thoma Bravo in January. 150 people let go while the CEO makes $15 million. Mismanaged incentives - employees don't matter, just shareholders.
Just make the employees shareholders
1100 layoffs at Bay Area tech companies
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Re: 1100 layoffs at Bay Area tech companies
#12Left out Imperva, which was bought by Thoma Bravo in January. 150 people let go while the CEO makes $15 million. Mismanaged incentives - employees don't matter, just shareholders.
Just make the employees shareholders
If they are not majority shareholders, losing their job will probably have more impact than the share gains.
Re: 1100 layoffs at Bay Area tech companies
#13Creative destruction in practice. Older firms like Oracle / SAP reducing headcount, while newer firms are adding headcount with a net increase in high quality jobs.
SAP isn't a "Bay Area tech company" though.
When you drive down to San Jose you'll see several companies with a SAP logo who have been bought in the last 10 years in the HR space, e.g. SuccessFactors (2011).
Re: 1100 layoffs at Bay Area tech companies
#14Re: 1100 layoffs at Bay Area tech companies
#15Re: 1100 layoffs at Bay Area tech companies
#16Earlier quoted context omitted.
Just make the employees shareholders
Well, that's the idea of Marx.
Marx had a lot of ideas; some of them were probably good. Involving workers in the ownership of companies seems like a good idea even if Marx supported it.
Marxism as practiced in places like, eg, Russia fell down because they disrupted the ability of the market to send and receive accurate price signals and over time that led to catastrophically misallocated resources. Many of the people who want socialism seem to support disabling said price signals, because they are unfair, which is why socialism is so dangerous - those price signals are very important. However, as long as they face the same risk of bankruptcy as everyone else, workers co-ops with the ability for outsiders to invest are probably a superior model of ownership.
Re: 1100 layoffs at Bay Area tech companies
#17Earlier quoted context omitted.
Well, that's the idea of Marx.
Marx had a lot of ideas; some of them were probably good. Involving workers in the ownership of companies seems like a good idea even if Marx supported it. Marxism as practiced in places like, eg, Russia fell down because they disrupted the ability of the market to send and receive accurate price signals and over time that led to catastrophically misallocated resources. Many of the people who want socialism seem to s…
>Marx had a lot of ideas; some of them were probably good. Involving workers in the ownership of companies seems like a good idea even if Marx supported it.
I'm not saying otherwise. In fact, a lot of Marx ideas were good. He also famously said "I'm not a marxist".
Re: 1100 layoffs at Bay Area tech companies
#18Too expensive salaries? It's funny to see promises such as 400K$/year (compared vs. the rest of the world) and hear stories like this
The places where you're promised total comp like that (e.g. FAANG) are not the places laying people off in this article.
Re: 1100 layoffs at Bay Area tech companies
#19Earlier quoted context omitted.
SAP isn't a "Bay Area tech company" though.
When you drive down to San Jose you'll see several companies with a SAP logo who have been bought in the last 10 years in the HR space, e.g. SuccessFactors (2011).
And if your company uses SuccessFactors you can see how little they’ve invested in engineering lately.
Re: 1100 layoffs at Bay Area tech companies
#20This is fine.