Re:Google combines Maps and Waze teams in restructuring move
by amvlsdsmv on Thursday December 08, 2022 @06:14PM
(#33915107)
The stock is down over 30% YTD. One of the biggest investor is asking for cutting costs. I understand how this is hard for an employee, but I do not see what's wrong here. If it was your company or you were one of the biggest investor in the company, would be asking to cut costs and focus on efficiency, specially with the last 12 months of hiring and a likely recession to look forward to next year?
[ Parent
| on HN ]
Re:Google combines Maps and Waze teams in restructuring move
by thehappypm on Thursday December 08, 2022 @06:37PM
(#33915383)
If I was a sheep, sure.
Google is still growing revenue YoY despite 2021 being a huge year for online services due to pandemic shifts.
They’re making hundreds of thousands in net profit per full-time employee.
A dumb CEO would do layoffs at this moment. They don’t need to financially, and the morale hit (and lost productivity) could be disastrous for the company.
But yeah, since other companies are doing layoffs, Google should too.
Re:Google combines Maps and Waze teams in restructuring move
by compiler-guy on Thursday December 08, 2022 @06:40PM
(#33915413)
"One of the biggest investors"
Not really. TCI doesn't even appear in the top 10 [1], and even if they were, the Founders still hold controlling interest.
[1] https://money.cnn.com/quote/shareholders/shareholders.html?s...