481–490 of 537 posts
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are stocks even going up outside of tech stocks that can benefit from AI investment? everything else seems stagnant
No. And even in tech, its highly concentrated in AI. The S&P 500 is almost 10% Nvidia. Just Nvidia. Y'all that's scary.
This is a reflection of 1) compensation has come down since the ZIRP era at least in some roles and 2) it's a hirer's market. This means companies see an opportunity to bring compensation down. I wish employees would instead have an opportunity to sign up for lower salary. For whatever reason you just don't see that happening anywhere
Amazon's backloaded vesting is terrible (for both Amazon and Amazonians) for this exact reason.
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I think we’re reaching the limits of what “more” can achieve esp. at Amazon’s scale. At some point, we will run out of people to sell things to. Then you look for low hanging “fruits” like this (cutting costs) instead of innovating and creating newer things (selling more). Also with less need for hiring and fewer people to manage - there’s an opportunity for companies to make their HR leaner. > Reuters said the job c…
> I think we’re reaching the limits of what “more” can achieve esp. at Amazon’s scale. At some point, we will run out of people to sell things to. See, that's the problem with tying all these amazing advances in automation and labor-saving to a system beholden to capital: it only considers what can make it more profit, not what can make the world better. I guarantee you there are many, many more things we can do with…
Oh, and by the way, you're fired. Fired? W-W-What do you mean, fired? Um, how else can I say it? You're being let go, your department's being downsized, you're part of an outplacement, we're going in a different direction, we're not picking up your option... Take your pick. I got more. "The Emperor's new groove"
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If your talking about employment verification, no they don't say why. Just confirm dates of employment. If you get fired you can lie about it. No one can find out.
That doesn't mean the hiring manager can't go through informal backchannels to find out.
You need to be memorable enough too.
Backchanel is not really a real concern unless you did something really fucked up.
Otherwise who do you think knows?
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It's also a total gut-punch to employees. "We had a great quarter!... not a good enough though, so GTFO" I can only imagine what this will do to morale. If even positive quarters means job cuts, why even try to have a positive quarter.
>It's also a total gut-punch to employees. "We had a great quarter!... not a good enough though, so GTFO" If you take the comment about "AI" at face value, isn't that exactly what you'd expect? If a textile mill is making record profits because of new textile machinery, would you consider it reasonable for the business to keep the old workers around, even though they're not needed anymore? Yes, it always sucks to los…
Sure.
Too bad I don't take it at face value and know this is just more outsourcing that's smokescreened under AI. Just check their hiring in earnings calls and see if that's actually going down. Amazon did them dirty and lied about why they aren't needed.
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It's also a total gut-punch to employees. "We had a great quarter!... not a good enough though, so GTFO" I can only imagine what this will do to morale. If even positive quarters means job cuts, why even try to have a positive quarter.
I dunno, I got used to the weekly beatings. You could arque that if you understand what brings the most business value and deliver that repeatedly, you're pretty safe from being fired and arguably you'd know how to run your own business if needed. If someone, say did a great job of updating API documentation that can be fully automated now, that's not good enough nowadays. I realise that's not exactly fair because th…
It's not the 2010's anymore. You're not fired because you did a bad job or even because you weren't productive enough. You're fired in a larger cultural wave to try and remove American labor from the American economy as they push everything overseas and pretend it's about "efficiency with AI". Nothing is hiring outside of hospitality right now.
>you switch to being a capitalist eventually.
Hope you have generational wealth. Otherwise that "capitalist" position is you delivering doordash just to survive.
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Yes we’re discussing the headline
> Yes we’re discussing the headline Ah I see, your beef is with the BBC, not Amazon.
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> These aren't "job losses", these are "firings". While both terms mean someone no longer has a job, they differ in cause and implication. Firing is when employer terminates someone for cause, i.e. employee did something wrong or didn't meet expectations. Job loss is a broader term, simply means the person no longer has a job, for any reason, but typically layoffs, downsizing, restructuring, plant closure, or being f…
Whenever there are layoffs of a major company, like half the comments here always bemoan the particular wording the article or company uses to describe the layoffs. It's a pointless exercise IMO (though I agree with you, ironically "firing" is less accurate than "let go"). Layoffs suck. Companies should be judged by their actions (e.g. severance, who is being laid off, etc.) and just ignore the words.
To be clear, it’s worse. Read the press release carefully: 1. 14k was the net change in “corporate headcount” which is PR puffery speak saying they’re firing a lot more but when you net out folks let go slotting into open roles elsewhere the net change today would be a 14k reduction 2. It also says that “looking ahead” “we expect to… find additional places we can remove layers, increase ownership, and realize efficie…
It's the result of economic headwinds and companies switching to maintenance mode. Except whever they can sell "AI" in their initiative. And of course, add in a healthy dose of outsourcing under the hood.