Their stocks go up in the short term and they have golden parachutes so they have learned that running companies into the ground benefits them.
They do learn, just the wrong lessons.
Comment on Apple, SpaceX, Microsoft return-to-office mandates drove senior talent away
GlassHalfHopeful@lemmy.ca 8 months ago
But will they learn…
snooggums@midwest.social 8 months ago
circuscritic@lemmy.ca 8 months ago
Learn what? This was the specific intended outcome: layoffs without severance or unemployment.*
*Unemployment benefits aren’t totally off the table due to the companies changing of job requirements, but that’s going to depend on local laws and individual employee circumstances.
GlassHalfHopeful@lemmy.ca 8 months ago
My hope is that companies would learn from the brain drain side effects in the long run. You’re absolutely right that greater profit is what drives this and it was intentional, but it is short-sighted.
The company I work for just terminated a substantial percentage of its workforce. It was done without truly understanding the effect on many programs. I’m now standing on a desert island, alone, trying to figure out how to continue satisfying a customer with nearly all the knowledge and talent to best do that stripped away. Doing the job of three people was hard enough before. Now I’m doing the job of X people, a variable I can’t even adequately quantify now. And a lot of that work is so wildly outside of my sphere of knowledge.
Decisions that these large companies are making are causing side effects that they may not feel for many years, but they will… And it won’t matter because those CEOs love accomplished everything they wanted for themselves in those first moments.
Don’t be evil. Heh.
I really do hope a few of these companies learn. I’d love to cheer for them. I’d love to contribute to their work.
circuscritic@lemmy.ca 8 months ago
Short sighted for who? Executive compensation is tied to stock performance via options. If their actions boost the stock price in the short term, what do they care about the companies performance at a future date after they’ve cashed out?
We’re currently in the extraction phase of neoliberal economic system and it’s only downhill from here.