Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
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Re: Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
#2I know the reality is more complicated, but it's always jarring to read a "company X had a great! quarter, is firing 20% of employees" headline. Very dystopian.
It seems like these two facts should at least go out in different press releases on different days.
For Shopify, does anyone know whether the 20% figure includes the people leaving with the sale of SFN to Flexport?
Edit: just heard in the earnings call that the 20% headcount reduction does _not_ include the logistics teams going to Flexport.
Re: Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
#3Well yeah, cutting workforce seems like it only has upside to these companies. Expenses go down, profit margin and share price go up.
What're the workers gonna do? Protest? Strike? Hah. No, the remaining employees will pick up the extra responsibility and thank the employer for continuing to employ them.
Re: Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
#4> We legally need the work laptop back, but we’ll help pay for a new one to replace it.
What law? I’m not criticizing Spotify at all for this decision, I’m just genuinely curious. A few other companies recently are giving away the laptops so I’m wondering what is different here.
Re: Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
#5> We legally need the work laptop back, but we’ll help pay for a new one to replace it. What law? I’m not criticizing Spotify at all for this decision, I’m just genuinely curious. A few other companies recently are giving away the laptops so I’m wondering what is different here.
shopify*
Re: Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
#6Revenue up, but it was barely profitable by share... So I think it is reasonable something is done.
Re: Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
#7> We legally need the work laptop back, but we’ll help pay for a new one to replace it. What law? I’m not criticizing Spotify at all for this decision, I’m just genuinely curious. A few other companies recently are giving away the laptops so I’m wondering what is different here.
They're likely speaking of their liability should a employee's laptop, containing sensitive information, ever be stolen or re-sold (or simply, left in the hands of an ex-employee with a grudge.)
It would be difficult for a IT department to guarantee, for sure without replacing the internals of the device, that the device doesn't contain sensitive information. Probably easier from an inventory and IT security perspective to just capture every device than try and coordinate with individuals to reformat, etc.
(for the same reason, some companies outright destroy old devices instead of reselling.)
Re: Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
#8Seems like a huge miscalculation by management if their abandoning their expansion into logistics so quickly. Tobi should step down.
Re: Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
#9Last time I read a very reassuring and cogent letter by the CEO of Shopify about the layoffs . But at no point did the letter hint at further layoffs no less 20% which is huge. Wondering what the explanation is this time. I understand everyone has their worth and price but I fail to see how management and leadership at companies still have jobs and huge bonuses.
Reaganomics has had 35 years. Maybe we need a new vision for our society.
Re: Shopify will be smaller by about 20% and Flexport will buy Shopify Logistics
#10I know the reality is more complicated, but it's always jarring to read a "company X had a great! quarter, is firing 20% of employees" headline. Very dystopian. It seems like these two facts should at least go out in different press releases on different days. For Shopify, does anyone know whether the 20% figure includes the people leaving with the sale of SFN to Flexport? Edit: just heard in the earnings call that t…
It's a fundraising advertisement, not for you.
The headline is to pitch possible future investors that Shopify will prioritize investor returns over anything else (as ordained by the Prophets of capitalism)