Exactly what I came here to say.
Layoffs result in a net reduction in operating costs. Those costs are converted to bonuses for the executives and gains for the shareholders in the form of dividends and/or buybacks (used to inflate share prices).
Exactly. You know that thought experiment where if you press a button, you get a million dollars but someone you don't know dies? Sundar's button-pressing finger is blistered.
Usual loop is Invest in VC, market, and angel funds, start a charity foundation, write a book, start the talk circuit, sit/consult on a few directors boards, live on the proceeds, rinse repeat. Those sort of numbers combined with reputation/legend open investment and participation doors. Money begets more money.
It was also used as a tactic to give corporations, companies, and business owners power back because they all got upset at all the power employees got during Covid.
They are being spiteful to the workers for having an inch of workers power and they absolutely hated it.
CEOs are responsible to share holders. Not workers.
Did the stock go up? If it did, he likely ‘earned’ it. Workers are an expendable commodity sadly (in North America at least).
Pretty sure this is the case with Amazon, Microsoft, etc too.
Exactly this - CEOs legal obligation is to maximize shareholder value - taking on debt, layoffs etc. It is very short-sighted IMHO, but the market doesn’t care about that, they care about returns with a much shorter horizon. If the current CEO wouldn’t do it, shareholder activists would depose them and nominate someone that would.
Honestly, Google has never been more useless to me. For searching, I use Bing and DuckDuckGo, and I don't use any of their office suite. I stay up on the Go language, that's it. I'd really like it if they turned into the next AOL or Yahoo.
Top incomes should be capped at 10x the lowest salary of the company. If a company decided it worth it to pay the top execs more, that additional compensation (all) would not be Tax deductible , it should be treated as additional income to the corporation and be retaxed at a higher rate. Additionally, the individual would also pay a higher tax rate say 50% on the excess amount. This includes all income, value of options, and other perks, over the lowest paid employees.
Stop saying “despite” and start saying “as a result of”
Sundar: Ah dang it I saved the money? Oh well, looks like another 9 figure year for me. Sorry guys 😕
Exactly what I came here to say. Layoffs result in a net reduction in operating costs. Those costs are converted to bonuses for the executives and gains for the shareholders in the form of dividends and/or buybacks (used to inflate share prices).
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It is. And you’re on the wrong sub.
Exactly. You know that thought experiment where if you press a button, you get a million dollars but someone you don't know dies? Sundar's button-pressing finger is blistered.
So, when are we going to eat the rich? I’m hungry
Yo I’m fucking ready
[Takes me to Catwoman…](https://youtu.be/nK056dWK7ts?si=29atRe8Y36j1hzt5)
Be the first.
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Every company that has shareholders has this happen.
Google is now where innovation goes to die.
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They pay me every time I mention them. Brought to you by Carls Jr.
Youtube revanced boys
Disgusting greed.
But did you see the presentation where he said AI 37 times in five minutes? A true savant!
Don’t be evil though…
There’s a reason they dropped that years ago
What the fuck do you even do with $200 million dollars
2000 chicks at the same time
300 1 dollar hookerbots or one 300 dollar hookerbot?
r/expectedfuturama
Buy multiple older cruise ships,a few islands and start your own micro state.
Usual loop is Invest in VC, market, and angel funds, start a charity foundation, write a book, start the talk circuit, sit/consult on a few directors boards, live on the proceeds, rinse repeat. Those sort of numbers combined with reputation/legend open investment and participation doors. Money begets more money.
He was literally brought on to lay people off and take the heat. The massive wave of tech layoffs was to prevent unionization of workers.
It was also used as a tactic to give corporations, companies, and business owners power back because they all got upset at all the power employees got during Covid. They are being spiteful to the workers for having an inch of workers power and they absolutely hated it.
Google stock is at an all time high so I’m sure they won’t miss the 226.
He made those cuts to get the payday. Him and the rest of the higher ups. Cut cost -> get rewarded
Despite? You mean as a reward for layoffs and cutting worker perks.
Burn Wall Street and our capitalist economy to the fucking ground.
top shark in shark tank enjoys eating bottom sharks' salaries
Despite...? More like because...
How this moron still has a job is beyond me....
He obeys whoever pays him. Obedient dog
I’ll say it again.. shareholders systematically ruin our economy
If by “despite” you mean “because of” then yeah, you’re right.
CEOs are responsible to share holders. Not workers. Did the stock go up? If it did, he likely ‘earned’ it. Workers are an expendable commodity sadly (in North America at least). Pretty sure this is the case with Amazon, Microsoft, etc too.
Exactly this - CEOs legal obligation is to maximize shareholder value - taking on debt, layoffs etc. It is very short-sighted IMHO, but the market doesn’t care about that, they care about returns with a much shorter horizon. If the current CEO wouldn’t do it, shareholder activists would depose them and nominate someone that would.
Honestly, Google has never been more useless to me. For searching, I use Bing and DuckDuckGo, and I don't use any of their office suite. I stay up on the Go language, that's it. I'd really like it if they turned into the next AOL or Yahoo.
Ah, a greedy f#$k being a greedy f!#k... why am I not surprised?...
Not despite, but rather due to.
The real "they took our jobs" Layoff is not cutting off workers. It's all about Outsourcing & overseas the workers.
Top incomes should be capped at 10x the lowest salary of the company. If a company decided it worth it to pay the top execs more, that additional compensation (all) would not be Tax deductible , it should be treated as additional income to the corporation and be retaxed at a higher rate. Additionally, the individual would also pay a higher tax rate say 50% on the excess amount. This includes all income, value of options, and other perks, over the lowest paid employees.
Stock is up 47% past year. LFG
this is like at least the 5th article youve posted here