Layoffs are not bad press. Not to the shareholders, the only ones who matter to these types. I used to think “oh, layoffs mean the company isn’t doing so good,” but shareholders see “they reduced cost but lost no customers, thus increasing value of the company should it be sold.”
This is true, and it’s weird because these same companies used to hire like crazy because only growth mattered. Finally real financial discipline is being applied. The tech company I work for is open about the fact that revenue-per-employee is something like half of FAANG companies and they want that to change.
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Layoffs are not bad press. Not to the shareholders, the only ones who matter to these types. I used to think “oh, layoffs mean the company isn’t doing so good,” but shareholders see “they reduced cost but lost no customers, thus increasing value of the company should it be sold.”
This is true, and it’s weird because these same companies used to hire like crazy because only growth mattered. Finally real financial discipline is being applied. The tech company I work for is open about the fact that revenue-per-employee is something like half of FAANG companies and they want that to change.