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oh, another wildly profitable tech company has done a round of layoffs, but this time its to fund stock buybacks as well as wage suppression

tef

i gotta love how i hear "we're building a sustainable engineering culture" from places that quadrupled their engineering teams to demonstrate growth to investors, then fire an arbitrary number of them, also at the behest of investors

thank you to the man wearing sunglasses in his profile picture who has explained "the job of the person running a company is to return shareholder value"

alas the youtube comment secton is missing one of its brightest minds, but i am glad someone has taken time out of pushing on a door marked pull to enlighten me

it's amazing how the people who deign to explain my own tweets back to me are also the ones who struggled with the original point

yes, the ceo's job is to make short sighted decisions in the name of a quick buck at the expense of the company, workers, product, and customers—even at the expense of the shareholders

but that's still bad, and what's more my point is "and yet they tell me they're building something sustainable" while doing it

@tef the only thing they are trying to sustain is growth in the terms of the investors or the markets. Technically that’s the primary job of the CEO of a public company. Do what it takes to increase the shareholder’s value.

@mcwronski yes, i'm aware of dodge v ford

@tef hey man, not sure if you knew this but we live under a system called capitalism. And,

@tef that’s sustainable — to giant traders. They need the movement to buy and sell. They suck.