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xoxo.zone is one of the many independent Mastodon servers you can use to participate in the fediverse.
A community space for attendees and speakers of the XOXO Festival, held in Portland, Oregon. This Mastodon instance is community-run and is not affiliated with the past organisers of XOXO Festival.

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robin

@davidcelis this is so evil I can't believe it's still up. Well, here's an archive link just in case: archive.ph/kPl9y.

So just to get this straight:

They're not firing people because they have to; no, they wouldn't do that, they're not that sort of company.

They're firing people because they want to. To "invest in AI". Because of their history of "self disruption".

As someone said, I really can't wait for the AI bubble to burst on these smug fuckers.

david celis

@nottrobin they’re firing people because they very suddenly “raised their expectations” and in their own words they even expect not only to refill those positions with others, but continue to grow PAST that. one of the more fucked up layoff announcements i think ive ever seen

Jul 10, 2024, 11:19 PM·Public·Ivory for iOS
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Michael Schurter

@davidcelis @nottrobin my best guess is that they’re using this to drop wages. Fire a bunch of people, hire a bunch of cheaper people.
It will kill productivity, destroy morale, and surely cripple product development. But it will also probably produce the kind of savings the market loves.

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david celis

@schmichael @nottrobin i agree 100%, posited the same thing in a couple slacks/discords. they want to fire “underperformers” based on new and sudden requirements and hire better replacements at the same price or lower

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Michael Schurter

@davidcelis @nottrobin I don’t think they’ve actually given a moment’s consideration to performance. It’s a handy tool to avoid discrimination lawsuits during layoffs, but nobody actually cares about some objective measure of performance or productivity. The market wants to see them cut costs. “Performance based” is just part of the cantrip that keeps the lawsuits away.

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david celis

@schmichael @nottrobin i’m not saying it was the real reason, hence the big old air quotes

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robin

@davidcelis @schmichael

Is it actually what the market wants? If so the market is pretty stupid. The research on the huge damage layoffs do to companies is unequivocal. From an evidence-based perspective, layoffs are a terrible choice.

news.stanford.edu/stories/2022

Has anyone studied the impact of Google, Meta etc's layoffs on share prices and company health?

Layoffs often do not cut costs, as there are many instances of laid-off employees being hired back as contractors, with companies paying the contracting firm. Layoffs often do not increase stock prices, in part because layoffs can signal that a company is having difficulty. Layoffs do not increase productivity. Layoffs do not solve what is often the underlying problem, which is often an ineffective strategy, a loss of market share, or too little revenue. Layoffs are basically a bad decision.
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