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“Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

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31–40 of 193 posts

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#31

The ego on this guy. Just do it quietly, why brag about it

There is still a stigma about people talking about money and how much they are making.

It's an important conversation to have, especially when the wealth gap between CEOs and regular people is so wide. The thing this guy is doing can potentially influence the ultra rich into giving up some of their enormous wealth.

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#33
post #24
post #7

What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit. The terms of the bailout loans are such that they can lay off people before they apply, get the money, and s…

Are we really surprised though? This is just capitalism at work.

[deleted]

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#34
post #7

What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit. The terms of the bailout loans are such that they can lay off people before they apply, get the money, and s…

"And the principle of really existing free market theory is: free markets are fine for you, but not for me. That’s, again, near a universal. So you — whoever you may be — you have to learn responsibility, and be subjected to market discipline, it’s good for your character, it’s tough love, and so on, and so forth. But me, I need the nanny State, to protect me from market discipline, so that I’ll be able to rant and rave about the marvels of the free market, while I’m getting properly subsidized and defended by everyone else, through the nanny State."

https://chomsky.info/19960413/

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#35
post #7

What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit. The terms of the bailout loans are such that they can lay off people before they apply, get the money, and s…

Companies (with enough lobbyists) will take advantage of things sure. But thats a small subset of companies that will definitely need help restarting.

Many businesses forced to shutdown ops thanks to the lockdown continue to pay staff, bills, rents, suppliers etc etc even though there is zero cash flowing in. Everyday the loss mounts. And its not like govt paying the employees directly wipes that loss out when they return to work.

Most business aren't run by people just sitting around waiting for Godzilla to show up, to lay people off and get bailouts from govt.

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#36
I wonder why we aren't hearing about companies selling more stock for funding. Sure it's at a huge discount, but better dilution than destruction, right? Is it just because the bailout loans offer them a better path? Or because they'd rather lay folks off than dilute?

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#37
post #7

What I've been hearing on the internet is that companies are racing to lay off as many people as they need to now, before applying for their free bailout money from the government. It also sounds like businesses are trying to lay off more than they actually need to lay off, in order to get the maximum benefit. The terms of the bailout loans are such that they can lay off people before they apply, get the money, and s…

I agree with you with the first point, giving money to companies isn't a good idea but I think it's also a bad idea to give it to "the people". I think it would be better to change. My opinion is most people are going to buy thing they don't need. Instead we could focus on better ideas for the future.... I don't know maybe I'm too utopist...

In the meantime, what do you propose people do who have been displaced from their jobs? Or who are unable to work due to social distancing and stay at home orders? Sure, some billers have stated “we will not disconnect/cancel due to nonpayment” but what answer do you have for those people?

This corporate welfare is garbage, and they’re then being stingy with what they’re giving to individuals? Fuck the politicians.

Re: “Today I cut my pay to $0. I'm committed to laying off 0 of our employees.”

#40

The ego on this guy. Just do it quietly, why brag about it

Because society needs feel good stories right now. I am not even joking. You probably did not realize how close to the abyss we have come last week. In practical terms, people suck when they are scared and hungry.

I rarely go for pop culture references, but it is very much applicable here:

“Their morals, their code; it's a bad joke. Dropped at the first sign of trouble. They're only as good as the world allows them to be."

And I am saying all this annoyed at the fact that I will be one of the people having to pay massive tax increases that will have to pay for all this.

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