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The idea that Google needs to lay off 12k people or that doing so will result in any meaningful changes to its bottom line is ludicrous. This is an HR Satanic Panic.
@heyjovo No, it's wallstreet theatre -- laying people off shows that they're dealing with the drop in revenue by cutting expenses. And the numbers have to be large because of FB & Twitter. I'm curious of Apple (who traditionally always run lean) will follow.
It won't do anything to their actual moneys, but it'll cause a bit of a jump in the stock price.
@kithrup @heyjovo Nah, that's not for wall street. That's just to allow middle managers to say: "Are you sure about not coming back to the office? There are 12.000 ex-employees on the street. Btw forget about that inflation adjusting raise you asked for."
Its not about the 12.000 that were let go, its about discipline for those who stay.
@Sweetshark @kithrup @heyjovo What was the line?—"The layoffs will continue until morale improves."