Yup, when one major tech company announces layoffs, all others appear to use the occasion as cover to do their own. Voluntary exit is usually followed by layoffs if they don’t hit the numbers they are targeting.
Well it's part of the hiring strategy with tech companies. You hire based on your competitors hiring. The company that can raise to hire more talent is able to get to market on the next big thing before the competition and see stock value rise. But when a down cycle hits, they all drop hiring to match because you're overspending and will see stock prices drop to the competition.
It will eliminate some particular employees, the roles may be retained and filled with other, probably—for it to have a business purpose—lower-cost (either because of location or experience or a combination) personnel.
Or, even more cynically, the roles can be nominally retained but due to inability to find the right talent or something like that kept open through the current (outside of AI, for now) economic downturn, and then filled again later.
and who manages the HR department employees? not being facetious, Ive wondered this for a while now. seems like they have almost unchecked power to run a corp into the ground.
If a company is the Soviet Union and the CEO is Stalin, HR would be the NKVD. How did Stalin keep the NKVD in line? They were also being murdered themselves while filling their murder quotas.
Would be interested to know the terms of the severance. Non-disparagement seems likely, but noncompetes are not enforced in California. So if you were trying to leave anyway, seems like a win/win.
I am affraid there could be could be a political reason behind it all. Like Musk/Twitter.
I know, its unlikely to not have heard about internal rumors but who can tell how far the dystopian tech cult around thiel and co reaches. These guys clearly conspire for something. Ok, tinfoil head off now.
Yup, when one major tech company announces layoffs, all others appear to use the occasion as cover to do their own. Voluntary exit is usually followed by layoffs if they don’t hit the numbers they are targeting.
Well it's part of the hiring strategy with tech companies. You hire based on your competitors hiring. The company that can raise to hire more talent is able to get to market on the next big thing before the competition and see stock value rise. But when a down cycle hits, they all drop hiring to match because you're overspending and will see stock prices drop to the competition.
s/if/when/
The company says no roles are being eliminated as part of these changes.
What in god’s name is the “voluntary exit program” going to do then ? It will obviously eliminate some roles ?
Corporate doublespeak at its finest.
It will eliminate some particular employees, the roles may be retained and filled with other, probably—for it to have a business purpose—lower-cost (either because of location or experience or a combination) personnel.
Or, even more cynically, the roles can be nominally retained but due to inability to find the right talent or something like that kept open through the current (outside of AI, for now) economic downturn, and then filled again later.
Employees are also a liability. The entire HR department exists to manage this.
and who manages the HR department employees? not being facetious, Ive wondered this for a while now. seems like they have almost unchecked power to run a corp into the ground.
If a company is the Soviet Union and the CEO is Stalin, HR would be the NKVD. How did Stalin keep the NKVD in line? They were also being murdered themselves while filling their murder quotas.
Would be interested to know the terms of the severance. Non-disparagement seems likely, but noncompetes are not enforced in California. So if you were trying to leave anyway, seems like a win/win.
The company had all time high quarterly revenue and profits, the stock is at all time high. It’s disgusting this is even being floated as an option.
Some times I think that the US optimises for being a place for business, not for the freedom of its people.
That was last quarter. Now they need to achieve even higher profits for the next one.
I really hate this MBA, always go up curve, when it is physically impossible to have everyone go up.
What is so wrong with having a sustainable business with happy employees.
Nothing, they just don't make the headlines.
I am affraid there could be could be a political reason behind it all. Like Musk/Twitter.
I know, its unlikely to not have heard about internal rumors but who can tell how far the dystopian tech cult around thiel and co reaches. These guys clearly conspire for something. Ok, tinfoil head off now.