461–470 of 596 posts
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> So? It doesn't make sense to accuse someone of not feeling the economic impact of a downturn at all while downplaying the fact that they actually lost $5billion.
If there's no functional difference between before and after the loss, it damn well does. Tell me, how did his lifestyle change as a result of losing this $5 billion? What actual pain of loss did he feel, above and beyond seeing some numbers go down?
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> If you are a US-based employee who is impacted, you will receive an email to your Zoom and personal inboxes in the next 30 minutes that reads [IMPACTED] Departing Zoom: What You Need to Know. This is the way to notify people of a layoff. Immediate binary yes/no. Although there is no great way to do it, this layoff seems pretty respectful and well done.
Hopefully they're also sending a NACK email too. Having been through it, let me tell you that's a gut wrenching n minutes to wait, though.
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I think there's a valid discussion to be had about whether we as an industry should expect massive hiring binges to be temporary and necessarily followed years later by layoffs, but these weren't billed as temporary jobs, so I think some shame is warranted. People probably relocated for these jobs, expecting them to be stable. I don't really want to become complacent to working in an industry where major players just…
> I think there's a valid discussion to be had about whether we as an industry should expect massive hiring binges to be temporary and necessarily followed years later by layoffs Devil's advocate but at the end of the day, if you're an engineer and Zoom wants to offer you a low-six figure job ($100k-$300k/yr total comp I'm sure is within the normal range for most people), as an employee are you "grateful" and just sh…
Maybe it’s just me, but nowadays I'm reluctant of the "We are a big family" shenanigans. If I read "Zoomies", I'm pretty sure that won't help the people that are being laid off today. You aren’t family, you are workers.
I feel like Zoom is the Coca-Cola to Google and Microsoft's Pepsi. Zoom is the "OG" product (in the post-March-2020 remote working world), and probably most people's personal favorite. But their competitors have caught up, and they are getting a significant portion of corporate contracts now. And unlike with soda, I don't think there is a lot of direct-to-consumer opportunity in this field.
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I think there's a valid discussion to be had about whether we as an industry should expect massive hiring binges to be temporary and necessarily followed years later by layoffs, but these weren't billed as temporary jobs, so I think some shame is warranted. People probably relocated for these jobs, expecting them to be stable. I don't really want to become complacent to working in an industry where major players just…
I think an argument can be made that all jobs are temporary jobs. If you're increasing headcount during a period of high growth then there is often hope that the growth continues enough to support those numbers when things taper off but it's not as easy as people seem to be saying. It looks like they grew somewhere around 300% since the start of COVID, a rif of 15% doesn't seem too far off estimates to me.
This sucks but something like COVID should normalize the idea in the minds of workers that all workers are disposable regardless of education or skill. If you don't own 51% of the company, you are disposable. Zoom had a use for you during COVID, now they don't: bye-bye. You were used, they got what they needed and now it is time to go. That's how workers are treated and people should understand that. You are not Geor…
> You were used, they got what they needed and now it is time to go. That's how workers are treated and people should understand that. I can't tell if all of this is due to the age of people who have joined the workforce over the last decade, when we were in a constant uphill swing. Markets go through cycles, boom and bust. We happen to be in part of the cycle where interest rates are rising, inflation is high, profi…
I've lived through four recessions now and worked through two. My first working recession was while I was putting myself through college. We used to average one per decade, but now we're bordering on two. To understand the magnitude, my first working recession was a complete life reset for me. It's hard to look at businesses that are cash rich, posting record profits, and then doing layoffs as a result.
Recession timelines: https://en.m.wikipedia.org/wiki/List_of_recessions_in_the_Un...
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In other words, he's lost $30B in the last ~2 years. Seems like a fair amount of accountability to me.
Yes, I agree that his ownership position gives him direct financial accountability for the performance of the company. He does well when it does well. That said, the swings tech stock over the last couple years have very little to do with his leadership. Yuan is not responsible for the tech bubble and its deflation. No human on the planet could have made zoom hold its peak stock price.
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If there's no functional difference between before and after the loss, it damn well does. Tell me, how did his lifestyle change as a result of losing this $5 billion? What actual pain of loss did he feel, above and beyond seeing some numbers go down?
classic example of moving the goalposts