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Decent-Can378 t1_je2l2il wrote

Yeah, seriously fuck them! None of he top executives get affected. There's just zero accountability in the corporate world. One should realize this by now and stay detached and focus on one's own life.

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r3dk0w t1_je33h0c wrote

Can't read due to paywall, but lemme dog pile on the CEOs giving the sad talk to their employees. Fuck those guys.

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547610831 t1_je34rg3 wrote

The thing that always kills me about economics is how much of a self-fulfilling prophecy it is. A lot of companies are doing fine and are still laying off workers just based on the fear of an economic downturn that may or may not come. Of course if those layoffs spread enough then it creates the very downturn everyone was afraid of. It's all just a mind game.

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nova9001 t1_je3agt0 wrote

Sorry bro.

Meanwhile CEO + top management getting big bonuses because share price go up when they lay off people.

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phdoofus t1_je3hfod wrote

Replying to 547610831 (#2,435,512)

That's not 'economics' per se. That would not be something you pick up in an economics graduate program but probably something you pick up from your colleagues who think just like you because of 'prevalent business school think'

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[deleted] t1_je3kdxj wrote

Replying to phdoofus (#2,437,990)

Yeah, that's pretty common with startups. Often a good founder is not necessarily a good CEO once the company hits the next stage of growth. They also often don't realize their shortcomings, so one of the investors appoints a qualified CEO and relegates the founder to a board seat.

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getitreddit1 t1_je3pz0g wrote

When economic reality smacks a Fkn smug, naive, pretend socialist progressive who’s really living his incongruent life as an ardent apex capitalist….these are the words he uses.

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DiceKnight t1_je3rum1 wrote

Replying to nova9001 (#2,436,704)

Even in the scenario where they take a pay cut or reduce their salary so what? They were making huge amounts while making the active decisions that lead to you loosing your job. Eventually they'll get back to their regular salary and they still retain all the original benefits of the job.

Meanwhile even in the scenario where you got a severance you better hope you don't need any of those benefits. Namely insurance for ongoing medications or medical needs.

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NothingIsTrue55 t1_je3t56a wrote

We should all just stop working. I’m not even talking about protesting. Y’all just stay at home and rely on squatters rights to not have to pay rent. I wish everyone at once just stopped playing along with corpo slavery. I wish we could all just agree to welcome the end of existence as a final fuck you to anyone who thinks they’re important because they have a product or an idea to sell. Let’s all just stop giving a fuck!

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Defiant_West6287 t1_je3vavc wrote

Not a CEO, but a senior manager at a cable company I worked for - we had a sales team of contract workers that were let go one night with no warning. The term he used to me was we were going to "gas them". Nothing like a nice holocaust metaphor.

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Objective-Ad5620 t1_je3vitt wrote

My CEO didn’t say a word during any of the six rounds of layoffs they’ve conducted thus far.

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phdoofus t1_je44avg wrote

Replying to [deleted] (#2,438,493)

The founder is pretty much in the background. He's an academic and I think he knows when to not be in charge of a business. Our COO is highly technical and very very good. I'm not terribly surprised they got rid of the CEO. It's not that he was bad it just didn't seem like he was pushing us in ways we need to go.

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nova9001 t1_je4hjwq wrote

Replying to DiceKnight (#2,439,600)

If you understand upper management compensation, salary is very small %. The bigger % is in shares. Meaning they can take a pay cut but their total comp might increase if they can get the share price up.

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deckardcain1 t1_je4rxwa wrote

I mean yeah ofc. Company being small or big, you wouldn't tell them to fuck off they no longer have a job.

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justnews_app t1_je4v2je wrote

You have to let 10% of the workforce go. Write a standard email that will still feel personal and sincere to be sent to those laid off.

Subject: Important Update Regarding Your Position at [Company Name]

Dear [Employee's First Name],

I hope this email finds you well. I want to start by expressing my deep gratitude for your hard work, dedication, and commitment to [Company Name]. It is passionate and talented individuals like you that have brought us to where we are today, and we are truly grateful for your contributions. It is with a heavy heart that I am writing to inform you of a difficult decision that has been made regarding the future of our company.

As you are aware, the global economy and the tech industry have been facing unprecedented challenges over the past months. The impact of these challenges has forced us, as a company, to re-evaluate our priorities, refocus our resources, and ensure the long-term sustainability of [Company Name]. After much consideration, we have made the incredibly tough decision to reduce our workforce by 10%.

Regrettably, this means that your position has been identified for elimination, and your last day with [Company Name] will be [date]. Please know that this decision was not taken lightly, and it is in no way a reflection of your performance or value to the company. We understand that this news may come as a shock and we want to assure you that weare committed to supporting you during this challenging time.

To help ease this transition, we will be providing you with a severance package, details of which will be outlined in an official separation agreement. Additionally, our human resources team will be available to assist you with any questions you may have regarding your benefits, outstanding vacation time, and other related matters.

In an effort to help you find your next opportunity, we will also be offering outplacement services and support in updating your resume and LinkedIn profile. Our team will be organizing a virtual job fair with potential employers in the tech industry, and we encourage you to take advantage of this event.

Please know that your hard work, talent, and dedication have left a lasting impact on our company, and we are truly grateful for the time and effort you have invested in [Company Name]. We understand that this is a difficult moment for you, and we want you to know that we are here to support you in any way possible.

In the coming days, your manager and a representative from our HR team will reach out to you to discuss next steps and answer any questions you may have. In the meantime, if you have any immediate concerns or need assistance, please do not hesitate to reach out to me directly or to [HR Contact Name] at [HR Contact Email/Phone Number].

Once again, I want to express my deepest gratitude for your contributions to [Company Name], and I wish you all the best in your future endeavors. You will always be a valued member of the [Company Name] family, and we are confident that you will find success in your next chapter.

Sincerely,

[Your Full Name] CEO, [Company Name]

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