this post was submitted on 27 Feb 2024
133 points (95.9% liked)
Technology
58144 readers
4482 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related content.
- Be excellent to each another!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, to ask if your bot can be added please contact us.
- Check for duplicates before posting, duplicates may be removed
Approved Bots
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
You needn't worry, it won't help. They are absolutely a standard shareholder and executive communication tool. Traditionally they were announced ahead of weak earnings to soften the blow to investors with the promise of savings. Then geniuses thought, why not both, and started announcing them with good earnings too. Who doesn't like to juice the stock a bit as an exec when your compensation is largely in grants and/or vesting options in that same stock?
Major layoffs are done now to hit targets every quarter if needed until ~~morale improves~~ stock price targets are hit or exec's jobs are safe for another quarter of obscene wealth redistribution.
This is not limited to gaming, or even tech, it's just catching the employees and the economy by surprise here given how well many of these companies are doing when there is no clear reason other than obvious, unfettered greed.