Google to Lay Off Around 12,000 Staff to "Set up for the Future"

[Why_Me]

Not really. Pretty much everyone agrees a recession is coming some just debate how big, and whether or not spending money via the government really has an impact in a negative way is highly debatable.

It's pretty simple tbh. The more money a country prints the more devaluation of said country's currency.

 

[The Von Matrices]

Go f..k yourself hypocrite. This p.o.s. should be the one to quit first if is his responsibilities to play with the lives of 12k people.
Those rich bastards have no more common sense and they thing they can just play with other people lives as they see fit.

Are they overpaid? Yes, no dispute there. However, with my own experience of owning a business, hiring employees, and then also needing to layoff some employees during the recent downturn, hiring and layoffs are not some frivolous tasks that CEO's do on a whim.

One of my employees bluntly told me that it is my job as a CEO to keep him hired so that he can keep paying his own bills. We had a discussion, respectfully disagreed, and then went back to work. Yes, I believe that you can disagree with your boss and not get fired as long as you are doing your job.

It is not my job as CEO to ensure that people have money to pay their bills. That's the job of the government's social service programs. My job as CEO is to make sure the business survives downturns and optimizes profitability. The reason businesses hire employees is not for charity; it's to complete work that brings in more money for the business.

Also, what is not being said is that the people who are getting laid off are almost surely the least productive among the workforce and an economic downturn is a convenient excuse to get rid of them. And what you might not be aware of is that laying off employees is hardly free for a company. Places like California require a long advance notice of being terminated or else you have to pay for many additional weeks of that employee's salary. In other states you have to contribute to the unemployment insurance fund whose rates spike whenever you layoff an employee (similar to how any insurance has its rates increase when you make a claim.) These costs are meant to encourage employers to not layoff employees.

I can villify Google for many things, but I can't villify Google for laying off employees when the company can't financially justify keeping them hired. It's not personal; it's business.

 

[claes]

Or it’s just bad management. Like most tech companies, they overestimated the Covid boom and hired too many employees. Sure, execs are foregoing bonuses, but they’re also cutting employee pay across divisions.

 

[R-T-B]

It's pretty simple tbh. The more money a country prints the more devaluation of said country's currency.

If you have a layman's understanding of it then yeah it is always going to appear simple.

It's not entirely wrong but there is a bit more to it than that as well.