this post was submitted on 18 Feb 2024
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Sounds like enough to pay all those workers they laid off
The layoffs were not an immediate monetary issue.
They could have had a trillion dollars in their pocket and would still have let those people go, because that's what the spreadsheet says to do. There is 0 human element or the concept of someone keeping their job. Even severance doesn't matter, they don't count it, they slip it as money they would have lost anyway, and then spin it into a gain when it's less than what would have been lost by not cancelling the project these people were on.
This is the main issue really, yes spreadsheets, yes numbers but not at the expense of the population. And befor anyone comes in and tells me these corporations have rights, rememeber the only reason they were able to hire so many people in the first place is because of tax benefits during COVID. As tax payers, we paid for them to hire, and we are also paying for those who got let go while all these companies are recording record profits. Not just profits, RECORD PROFITS
A company that grows 1% every year will always have “record profits”. It’s a fun buzzword to throw around, but there’s better injustices to focus on, like the lack of CEOs getting sacked or facing a reduction in compensation.
Microsoft annual gross profit for 2022 was $135.62B, a 17.06% increase from 2021. Microsoft annual gross profit for 2021 was $115.856B, a 19.52% increase from 2020.
So yeah, 20% inflation a year amarite. "It's just a fun buzzword!". Sure the numbers are bigger in the end, but that's not what anyone is talking about here when they mean record profits. Grab inflation, go back 20 years and show us.