This legal responsibility to shareholder profits sure is shitting on everything else. We should change that.
Amazon lays off 500 Twitch employees, hundreds more at MGM and Prime Video
Submitted 10 months ago by return2ozma@lemmy.world to technology@lemmy.world
Comments
Sanctus@lemmy.world 10 months ago
_number8_@lemmy.world 10 months ago
people really shouldn’t get to gamble on companies and people’s livelihoods
merc@sh.itjust.works 10 months ago
That’s just an excuse companies make when they never had the intention of doing the right thing.
TORFdot0@lemmy.world 10 months ago
The fiduciary responsibility standard is there to protect people’s retirement which is all in the market. It sucks that people are losing are being laid off but I don’t think changing the standard would give these people their jobs back.
sebinspace@lemmy.world 10 months ago
You should not be entitled to protection when you engage in gambling knowingly and with your own volition.
TheRaven@lemmy.ca 10 months ago
Instead it just makes an entire generation who never gets to retire.
The easiest way to protect retired people is to make sure there are no retired people to protect (taps head)
prograhammingdev@lemmy.prograhamming.com 10 months ago
Right after the introduction of additional advertising pricing structure. Wow
SinningStromgald@lemmy.world 10 months ago
That is for shareholders not employees silly.
wellee@lemmy.world 10 months ago
Fun reminder: Jeff Bezos makes $9.6 billion a year :)
merc@sh.itjust.works 10 months ago
As in, on average his wealth increases by that much? Or that he makes that much in income?
DragonTypeWyvern@literature.cafe 10 months ago
They’re the same thing, and Elon buying Twitter in cash should have taught you that.
obinice@lemmy.world 10 months ago
Wait, Amazon owns Twitch?
Damn, do the same 5 companies just own everything now?
dustyData@lemmy.world 10 months ago
Have you been under a rock during the past two decades? Like 5 dudes own 90% of the world.
Wolpertinger@sh.itjust.works 10 months ago
It’s been that way for awhile.
If you have Amazon prime, you can sub to one creator a month “for free.”
Lightrider@lemmynsfw.com 10 months ago
#fuckingcapitalists
TigrisMorte@kbin.social 10 months ago
Bezosibub is desperate for the recession he was promised.
_sideffect@lemmy.world 10 months ago
Justin sold at the right time
kat_angstrom@lemmy.world 10 months ago
“As you all know, we have worked hard over the last year to run our business as sustainably as possible. Unfortunately, we still have work to do to rightsize our company and I regret having to share that we are taking the painful step to reduce our headcount by just over 500 people across Twitch,” Clancy wrote.
Cripes I hate corporate newspeak. “Rightsize” isn’t a word, and I hope I never encounter it again.
balancedchaos@lemmy.world 10 months ago
“As ‘sustainably’ as possible.” I love that one, because it makes it sound like they’re being kind to nature.
Nope, just profit.
rynzcycle@kbin.social 10 months ago
Even in financial terms "sustainably" always pisses me off. None of these companies are trying to sustain, they demand constant growth to be happy. Never ending growth is never sustainable.
BraveSirZaphod@kbin.social 10 months ago
I know corporate America doesn't really deserve any meaningful amount of good faith, but for whatever truth is worth, "sustainable" in a business context has essentially always meant financials. A platform like Twitch is generally going to have really high operational costs between infrastructure, network traffic, engineers, and revenue sharing with streamers, and given that Amazon doesn't operate Twitch for charity any more than you do your job for free, they need to make sure that they actually have sufficient revenue to be able to make the finances sustainable. I won't pretend to know how profitable it is, if it even is yet, but cutting employees is obviously a pretty easy lever to pull to reduce costs if your operations can get away with it.
TORFdot0@lemmy.world 10 months ago
Is twitch or prime video even profitable? I’m pretty sure twitch isn’t but prime might be just due to locking people in to making their e-commerce purchases on amazon
werefreeatlast@lemmy.world 10 months ago
…so we can make a profit off your work.
Wogi@lemmy.world 10 months ago
You’re fortunate that this is the first time you’re hearing it, but it’s been a business term for quite some time now. I’ve only ever heard it used as a euphemism for downsizing but one HR lady insisted the term was general, that if you were understaffed you’d still need to right size.
I asked her if in meetings that might lead to some confusion, and she was confident that it never would. She was also an idiot.
When I started getting mentioned in meetings for doing a really good job on tasks that she was supposed to be doing she fired me. She was fired just a few weeks later. Sorry, she was right sized.
FaceDeer@kbin.social 10 months ago
Sorry.