I don't understand why layoffs are even necessary when so many people - top talent, no less - are already walking away on their own.
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Layoffs are not just for bottom performers, haven’t you seen some of the brightest and hard working people been cut off? And the lazy b-ms who have quite quit for years are still onboard? I am out of that game! If someone from above likes you then you have a chance to remain otherwise it does not matter, most at are risk. Good luck.
I remember the "brain drain" panic that set in when all those oxide media / inductive head experts started retiring en masse. We'll be fine.
we act like the this cycle hasn't played itself out multiple times We came into this industry and began to succeed the generation before us as the left or retired.
No problem, all those new grad hires the last few years will save the day!
Oh wait, most leave after a few years because they want to work 100% from home.
The “brain drain” will be replaced by AI
Layoff is to get rid of bottom performers and people who no longer have any useful work to do because business changes and roles obsolescence. The brain drain usually only eliminates high performing folks with marketable skills. They need to remove the former to try to keep up compensation to prevent the latter. They are failing badly at this and that’s why high brain drain. Not paying enough anymore. So they stick in people off the street and new grads because the company cant afford anything else and uses the diversity excuse. Got to maintain that dividend for the top 1%. I expect it’ll finally get to a point that the dividend will have to be cut and the company will collapse into a heap of debt and declare bankruptcy. Are we close? Maybe.
"brain drain" fears come and go
This has generally been the policy for the past 2 years - run a s**t company, funnel money into the pockets of a few, commodify all operations such that they can be handled by ‘tards and new grads and let those who actually built it all walk with no severance. Lol - all I have to say good luck with that and thanks for the unlimited vacation time.
$70 today. Good trajectory towards obsolescence.
wonder how this CEO will now service the debt.
It is simply because the shareholders are greedy. They want more profit, and less expense.