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A comment on Gitlab to lay off 7% of staff. Parent comment

Re:Gitlab to lay off 7% of staff by WaitWaitWha on Thursday February 09, 2023 @12:11PM (#34727271)
Just a quick reminder regarding those "they", "shareholders" - it is a pet peeve of mind how we tend to forget who are the vast majority of these sharholders "getting rich" by the count of people, not necessarily by the value.

In the USA 401(k)[0] & 403(b)[1] plans are used by vast majority of people as their retirement funds. It is very rare for a small organizations to be able to offer full pension plans. What they do offer are investment plans like 401 & 403.

All those little 401k/403b plans, through the plans and the mutual funds are the "they" "shareholders", "getting rich".

In 2019 21% of US workers participated in pension plans, while 43% in 401K/403b [2]

[0]: https://en.wikipedia.org/wiki/401(k)

[1]: https://en.wikipedia.org/wiki/403(b)

[2]: https://www.pensionrights.org/resources/information-center/

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Re:Gitlab to lay off 7% of staff by Salgat on Thursday February 09, 2023 @09:03PM (#34734739)
The median 401k balance is downright scary. For ages 55-64, it's only $84k. Percentage participating in these plans doesn't mean much if they don't have much in it.

https://www.personalcapital.com/blog/retirement-planning/ave...

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