I mean I get where he's coming from. I have seen those day in the life of a ___ videos and always wondered what work do these people even do? But isn't he also responsible for over hiring? That too for an industry that works on thin margins.
Dekho, he is making more money than all of us. He'll say whatever and we will listen
The rich can do whatever the f they want and get away with it
Nah bro, search what happened to John mcAfee and Jeffrey Epstein.
To an extent yes. The CEO is responsible for the layoffs and taking on more hiring. But in bull market, pretty much everyone overhired. It would most likely be more difficult to not over hire when everyone around you is scaling up people, tech, etc.
Apple is the only exception I have found. Back in India, many startups have also gone through multiple firings except for a very few.
Hmm so he cut off useless execs?
Well it was around 15% of the total workforce so I guess execs were let fo off as well
Spotify is late to the party, but they are letting go 17% which is huge compared to others in one go. be careful with similar type of industry. pocket fm, Kuku fm perhaps?
17% is huge, especially this late in the doom cycle It feels like Spotify must be losing market share heavily agai...
Tech is slowly realizing that Elon was right and a huge amount of overhead is not necessary to grow these companies when you actually manage teams properly.
Read news here: https://yourstory.com/2024/11/freshworks-cuts-13-of-its-workforce-impacting-660-employees
Aaand they are up 5.2% today Investors reacting favourably We're all adults here but capitalism is funny
