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Last time they did a big layoff the stock went up.. so I guess keep firing people as long as the stock keeps going up is the plan for say people who own lots of the stock.. I wonder who might benefit?
I believe this should send a message to the remaining employees to improve morale or get out.
Earlier quoted context omitted.
the firings will continue until morale improves
What about the raises, bonuses, and stock awards this year? Will they also be cut?
https://english.stackexchange.com/questions/371325/origin-of...
I believe this should send a message to the remaining employees to improve morale or get out.
> send a message [..] to improve morale or get out The saying "the beatings will continue until morale improves" is supposed to be a joke, not a guide for management.
FTFY
Earlier quoted context omitted.
The employees must have seen the writing on the wall when the company was hiring en masse. Hiring standards must have fallen if they added people so rapidly.
Engineers vocally advocated for hiring more people because they have “too much work”. Engineers are on the interview panels and so are also responsible for hiring standards to drop (if, in fact, that is true).
Last time they did a big layoff the stock went up.. so I guess keep firing people as long as the stock keeps going up is the plan for say people who own lots of the stock.. I wonder who might benefit?
The shareholders, for whose purpose the business exists, are the ones who will benefit, and they deserve to.
Don't forget that most of the employees are also shareholders and most of them make hundreds of thousands of dollars a year from the stock.
It sucks that people get laid off, but a large portion of the employees were lucky to be hired in the first place, because of the crazy growth that was enabled and rewarded by the market in the last few years. They made a lot of money and now they have to look for work again. It's not like laying off factory workers.
Some much for doing the big cut and getting it over with. Worst of all possible worlds.
The employees must have seen the writing on the wall when the company was hiring en masse. Hiring standards must have fallen if they added people so rapidly.
I have been hearing this about Meta / FB for the last 10 years. This line of thinking is overly simplistic. If a company like FB wants to ramp up hiring, they have many tools at their disposal. Hiring bar isn't the only tool, or even a very important one. Things they can do:
1. They can really jack up the compensation package and signing bonuses 2. Open offices in places where they didn't have any presence 3. Open up to remote work 4. Allow flexible hours 5. Increase retention through outstanding perks and benefits 6. Scale hiring efforts - expand the recruiting org, train more employees to conduct interview, reward employees for referrals and conduct interviews 7. Expand outreach into communities from where we historically didn't get much applicants
Meta tried everything above, and possibly more. Hiring bar doesn't matter when you have boatload of money.
Last time they did a big layoff the stock went up.. so I guess keep firing people as long as the stock keeps going up is the plan for say people who own lots of the stock.. I wonder who might benefit?