[HN Gopher] Bay Area Tech Boss Announces Layoffs in 'Next Phase ...
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       Bay Area Tech Boss Announces Layoffs in 'Next Phase of Growth'
        
       Author : hindsightbias
       Score  : 10 points
       Date   : 2023-11-06 19:27 UTC (1 hours ago)
        
 (HTM) web link (sfstandard.com)
 (TXT) w3m dump (sfstandard.com)
        
       | throwaway5959 wrote:
       | This kind of thing is terrifying. Growth through layoffs while
       | buying back shares.
        
       | nyx wrote:
       | I genuinely thought this was going to be satire, based on just
       | the headline... then I clicked and read the first paragraph, and
       | STILL thought it was satire.
       | 
       | Then I saw the link to the earnings release and figured out it's
       | real. Where else but tech is "things are great and we're firing
       | 10% of our workforce" a normal announcement?
        
         | mixdup wrote:
         | >Where else but tech is "things are great and we're firing 10%
         | of our workforce" a normal announcement?
         | 
         | I mean putting it in the guise of "AI" (does anyone actually
         | trust AI to replace anyone except the most low level customer
         | service at this point?) lets them have an excuse that doesn't
         | look bad economically, and doing mass layoffs lets them dump a
         | lot of dead weight that they would have trouble doing one by
         | one without performance plans, worrying about lawsuits, etc.
        
       | datadrivenangel wrote:
       | Informatica is laying off 10% of their staff, 545 people.
        
       | erulabs wrote:
       | The alternative universe where companies never restructure, never
       | abandon bad plans, and never fire anyone seems worse.
       | 
       | You have to make a decision - is work the end goal or a means to
       | an end? If work is the goal - this is horrible and bad - never
       | fire people if you can afford not to! Why doesn't someone just
       | pay those folks to sit at their desk? It must be "greed for
       | capital" at work!
       | 
       | It's hard to discus economics like this without sounding cold
       | hearted - so I'll say I feel for anyone laid off unexpectedly.
       | However, of all the humanitarian crisis in the world today - it
       | does not rank terribly high. I certainly hope those folks can
       | find new jobs - but I think holding ill will towards business-
       | runners who do not retain unneeded employees is first order
       | stupidity.
        
         | francisofascii wrote:
         | [delayed]
        
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       (page generated 2023-11-06 21:01 UTC)