News for hackers. Stuff that matters.

A comment on Google Announces 12K Layoffs: A difficult decision to set us up for the future. Parent comment

Re:Google Announces 12K Layoffs: A difficult decision to set... by Aunche on Friday January 20, 2023 @08:40AM (#34452970)
They aren't fools, they just have their own agendas.

Sundar and other Google execs don't actually own that much Google stock, so they have relatively little lose by gambling with company money by over hiring.

From Brian Armstrong's perspective, Coinbase didn't overhire at all. They captured all the crypto revenue they could during the boom, which inflated their stock price while Armstrong was cashing out as much as he could.

[ Parent | on HN ]
Re:Google Announces 12K Layoffs: A difficult decision to set... by nova22033 on Friday January 20, 2023 @09:08AM (#34453313)
https://www.investopedia.com/articles/markets/011516/top-5-g...

The top individual insider shareholders of Google are Larry Page, Sergey Brin, and Sundar Pichai

[ Parent | on HN ]
Re:Google Announces 12K Layoffs: A difficult decision to set... by Aunche on Friday January 20, 2023 @09:18AM (#34453443)
That's my point. Larry and Sergey own 3% of Google each, but have long retired from making any decisions at Google. Sundar only owns .01% of Google and gets compensated in bonuses, so tunes his strategy on maximizing his bonus.
[ Parent | on HN ]