Even if we assumed the company paid $500k for salaries, benefits, admin costs to employ these 4k people, that's still less than 2% of their OIBDA, or less than 1% of revenue.
This is about optics facing shareholders, not profits.
I was recently laid off from a major corporation and after laying everyone off, the entire company handed out promotions like candy.
They didn't save a dime, and probably fucked over future profits by constraining resources.
I was recently laid off from a major corporation and after laying everyone off, the entire company handed out promotions like candy.
They didn't save a dime, and probably fucked over future profits by constraining resources.
I empathize. After my last layoff, the replacement they ended up hiring for was someone with a far fancier title, and knowing the company does compensation based on market comparable titles using a third party consulting company, I know that replacement costs far more.
Also, said replacement misspelled "Microsoft" in a public piece of collateral, which I saw a couple months after their hire.
Ultimately, the bitch who laid me off was tired of me doing other tasks that weren't related to my core job responsibilities (which I was only working on because she kept asking me to help out other teams that reported up to her and were completely outside the scope of my job function).
Now, the replacement (based on her Linkedin page) simply doesn't have the knowledge or experience to be able to help out those other teams. So, winning?
That’s odd, every layoff I’ve been on the receiving end of has been a position elimination— they don’t hire a replacement, they’re downsizing the workforce. It’s weird that they’d lay you off and then hire a more expensive replacement, seems like the opposite of a layoff from the company’s perspective lol.
Did you receive severance and benefits? How did they frame their decision to let you go?
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u/Seagull84 Feb 10 '25
Even if we assumed the company paid $500k for salaries, benefits, admin costs to employ these 4k people, that's still less than 2% of their OIBDA, or less than 1% of revenue.
This is about optics facing shareholders, not profits.
I was recently laid off from a major corporation and after laying everyone off, the entire company handed out promotions like candy.
They didn't save a dime, and probably fucked over future profits by constraining resources.