I’m not sure any policy could address falling auto sales.
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I’m surprised they need to do layoffs. Rumor is turnover is really high after the HQ move then firing of the CEO and CFO. The interesting thing is the Uber CEO was CEO. He’s the one that left the bloated company and poor work ethic behind.
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Let me take that back.
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I’m not really sure what to say… Isn’t before Christmas better than the week after? At least you know that you can stay at your parents’ house longer. And the CEO told them himself. Laying people off is never fun or easy or going to be taken well.
Late last month:
Specifically, according to an email from Better CFO Kevin Ryan to the company and obtained by TechCrunch, Better.com will have $1 billion on its balance sheet by week’s end.
In the email, Ryan told employees:
We pulled forward the funding of our SPAC deal … With this new structure the company will fortify our balance sheet and position us as extremely well capitalized in a tough mortgage market. Surviving is winning and capital ensures survival … By the end of this week we expect to have $1 billion of cash on the company’s balance sheet. Quantum’s more than we have ever had. [sic] We will continue working through the process of public listing but the most important step has been taken (getting the money).
If not done over Zoom, how should it be done with remote working?
As a landlord of properties under rent control, I found this behavior extremely disturbing. Time for Oakland City Council to create “employment control” because employment contracts are supposed to be forever binding (to the employer only) except some just causes.
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Next what? Control our property , control life, control mind? America is heading closer to becoming a marxist state.
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Control your teeth! Control your mom! Control alt delete! Marx is dead, don’t be afraid.
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All most all employments in California are at-will. This means either party (employer or employee) may terminate the employment any time for any reason. No point in sensationalizing these layoffs . These layoffs are purely driven by the business needs and changing market and macro-economic environment.
No point in ascribing ill motive or bad-mouthing these companies. Job market is strong and companies are hiring. These laid off employees should pocket severance and get a new job.
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control your language?
Like the Johnny Paycheck song “Take this job and shove it”, for those of you old enough to remember it.
From Dr Strangelove
General Jack D. Ripper : Mandrake, do you realize that in addition to fluoridating water, why, there are studies underway to fluoridate salt, flour, fruit juices, soup, sugar, milk… ice cream. Ice cream, Mandrake, children’s ice cream.
Group Capt. Lionel Mandrake : [very nervous] Lord, Jack.
General Jack D. Ripper : You know when fluoridation first began?
Group Capt. Lionel Mandrake : I… no, no. I don’t, Jack.
General Jack D. Ripper : Nineteen hundred and forty-six. 1946, Mandrake. How does that coincide with your post-war Commie conspiracy, huh? It’s incredibly obvious, isn’t it? A foreign substance is introduced into our precious bodily fluids without the knowledge of the individual. Certainly without any choice. That’s the way your hard-core Commie works.
Group Capt. Lionel Mandrake : Uh, Jack, Jack, listen… tell me, tell me, Jack. When did you first… become… well, develop this theory?
General Jack D. Ripper : [somewhat embarassed] Well, I, uh… I… I… first became aware of it, Mandrake, during the physical act of love.
Group Capt. Lionel Mandrake : Hmm.
General Jack D. Ripper : Yes, a uh, a profound sense of fatigue… a feeling of emptiness followed. Luckily I… I was able to interpret these feelings correctly. Loss of essence.
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So he fired the bottom 10%. Amazon and Netflix and the rest do the same. They just don’t post nasty messages about it.
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Firing the bottom 10% annually is a HR system advocated by ex-GE CEO Jack Welch.
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regardless he could have had more compassion and not been such a dick about it.
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I watched the video. What did he do wrong? Is pre-Christmas bad? Is 4 weeks severence too little? Is 3 months COBRA paid for by the company too little? Should the manager be giving the news instead of the CEO? I think that this kind of news isn’t easy to give, but if I were being laid off, yeah I’d be upset, but I also think this would be an ok way to do it.
how/what would you have done differently?
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