Revenue up 29% and we are upping the sales forecast for year end and somehow now seems to be the time for layoffs? Seems most were in Sales and customer support areas, at least for now. But most MB would comment is that he doesn't see more layoffs for 90 days, for what ever that is worth.... I hate to see how this company will react if Q3 has less than a steller 29% increase.... let's shoot for the moon...( and in the end then we get shot....)!!
3 replies (most recent on top)
"And if less employees can deliver the same or greater wealth, then you need to layoff."
And this is why Germany has trade unions and works councils that have very strong legal protection as well as up to half of board of directors chosen by employees, by law. This 'codetermination' reorients the interests of the companies to add additional focus to the welfare of the employees and democratizes the economy. This is one reason why the pay gap ratio between CEOs and average workers in Germany (as of 2018) is 136 and in the US it's a staggering 265 (US CEOs earn $265 for every $1 an average worker makes.)
As one senior executive said at another company i work at regarding layoffs.
Shareholder profit is indeed a manager’s fiduciary responsibility in a publicly-traded company.
If you can make more profit by a layoffs, then you need to do so. That is your fiduciary responsibility.
If they invented a robot that could do the work of half of the employees, they would layoff half the employees. If the manager does not do it, the stockholders would get someone else to do it (new CEO).
Your goal as employee is to maximize the shareholders wealth who are owners of the company.
And if less employees can deliver the same or greater wealth, then you need to layoff.
It is not personal. It is business.
"But most MB would comment is that he doesn't see more layoffs for 90 days"
When did he say that?