231–240 of 498 posts
Earlier quoted context omitted.
A business is run to maximize shareholder value. Cutting costs is part of that equation.
It's not really maximizing shareholder value though. In this case its like cutting off your leg and claiming you lost weight.
Here’s a thought that has been percolating in my mind for a bit since these “market adjustments” began a month or two back. Somehow at some point, in what perhaps could be blamed on the ever-hated mass produced MBAs - companies got really comfortable with the “it’s not personal, it’s just good business” of letting go of their employees for a slightest reason, or sometimes for no reason at all - just to make it look t…
> “people are our most important resource” Did you ever believe it? It makes me throw up every time I see corporate messages speaking of family and employees being their most important resource. I have been around for long enough and I have learned that a job is just a contract between parties and it exists for as long as both parties can benefit from it. Don't get caught up in the whole companies family kind of bs o…
Relevant joke:
An engineer is messaging with her boss on Slack after hours. The boss is talking about how his brother is in the hospital.
The engineer asks "What are you gonna do?" and the boss responds "Well, he is family..."
The engineer says "You're gonna make him come in on weekends?!"
Earlier quoted context omitted.
> We are seeing a bit of a market downturn - but it hasn’t hit Amazon pocketbook now, has it? Are they in danger of running out of money? What happened to “people are our most important resource”? Companies plan for where the market is going, not last quarter’s results. It’s fully clear to everyone that the economy has shifted dramatically. They are adjusting as appropriate. Also, these people will be laid off with s…
The idea behind quiet quitting is based around the idea of shooting for a 3 on a scale of 1-to-5 instead of shooting for a 4 or 5: AFTER management has dropped the ball and failed to acknowledge their efforts. People have twisted this to mean "I am going to do the bare minimum without getting fired" -- these people very quickly end up on PIPs or equivalent at many other companies, not just stricter employers like Ama…
It's crazy that AMZN announces this and the stock goes up in after hours trading. People are losing their livelihoods yet rich people only care about the potential higher profits. This is very disconnected from reality, amzn needs consumers to buy their products. If layoffs keep piling up higher and deeper something is going to break and hello recession!
How else would you value a stock? It's fractional ownership in a company; bottom line matters. Also, many people who aren't "rich" own stocks.
But the sum of all people who aren't "rich" don't own very much stock (as a proportion.) And 99% of the ones that do own that stock indirectly through a fund with added management costs and management risk.
This is worrisome - joined Amazon ~4 months ago because it seemed like the most sensible thing to do considering my immigration status. Have one last attempt left at the H-1B lottery; PERM is underway but no hopes of getting it finished before STEM OPT runs out. Was thinking of getting married to my girlfriend soon, but not too sure about that anymore (she's in the 3rd year of her PhD so she cannot really move with m…
How did you go from 9 to working age without getting residency in the US or another country?
It's crazy that AMZN announces this and the stock goes up in after hours trading. People are losing their livelihoods yet rich people only care about the potential higher profits. This is very disconnected from reality, amzn needs consumers to buy their products. If layoffs keep piling up higher and deeper something is going to break and hello recession!
> It's crazy that AMZN announces this and the stock goes up in after hours trading. No it isn't. It is quite typical for a companies stock to spike up after a layoff announcement especially when the number was higher than initially reported. And as always totally expected.
Here’s a thought that has been percolating in my mind for a bit since these “market adjustments” began a month or two back. Somehow at some point, in what perhaps could be blamed on the ever-hated mass produced MBAs - companies got really comfortable with the “it’s not personal, it’s just good business” of letting go of their employees for a slightest reason, or sometimes for no reason at all - just to make it look t…
Nothing. But one particular group believes that is is more "equal" than the others.
Earlier quoted context omitted.
A business is run to maximize shareholder value. Cutting costs is part of that equation.
It's not really maximizing shareholder value though. In this case its like cutting off your leg and claiming you lost weight.
Earlier quoted context omitted.
> We are seeing a bit of a market downturn - but it hasn’t hit Amazon pocketbook now, has it? Are they in danger of running out of money? What happened to “people are our most important resource”? Companies plan for where the market is going, not last quarter’s results. It’s fully clear to everyone that the economy has shifted dramatically. They are adjusting as appropriate. Also, these people will be laid off with s…
> They were compensated toward the top of market (considering all tech companies) while they were employed. Yea but no. This isn’t about Amazon, it’s about business culture writ large. Also not everyone at Amazon is a software engineer, and therefore it paid crazy amounts. > When some “quiet quits” it’s usually their peers who pay the price because the absentee coworker isn’t get their part of the team project done Q…
Extra hours to cover is fairly common in factory work. What differentiated it in my experience is there was a union to ensure people were adequately compensated for overtime.
Here’s a thought that has been percolating in my mind for a bit since these “market adjustments” began a month or two back. Somehow at some point, in what perhaps could be blamed on the ever-hated mass produced MBAs - companies got really comfortable with the “it’s not personal, it’s just good business” of letting go of their employees for a slightest reason, or sometimes for no reason at all - just to make it look t…
Financial services (banks, investment firms, etc.) have been doing this for decades. It might feel revolutionary to a comfortable recent tech company existence, but I'm afraid to say this is the norm. Companies can hire quickly when they think they'll grow, and fire en masse when the tide turns.