Re:LinkedIn is laying off nearly 700 employees
by johnnyanmac on Tuesday October 17, 2023 @02:01AM
(#37911166)
>They won't come out and say "we overhired and now we are shedding our deadweight" because no one wins with that more crude statement.
to be frank, we should probably stop pretending they "overhired". That term implies that these MBAs were somehow blindsided by the imminent recession that analysts have talked about as far back as 2020 and that this wasn't an intentional strategy to maximize growth while labor was "cheap" (or at least, the money to hire labor).
This was all calculated and most companies still came out of this larger than when they entered the pandemic. It was all calculated and workers were nothing more than expendable pawns. Not much we can do about it without stronger labor laws, but that's a multi-decade battle.
to be frank, we should probably stop pretending they "overhired". That term implies that these MBAs were somehow blindsided by the imminent recession that analysts have talked about as far back as 2020 and that this wasn't an intentional strategy to maximize growth while labor was "cheap" (or at least, the money to hire labor).
This was all calculated and most companies still came out of this larger than when they entered the pandemic. It was all calculated and workers were nothing more than expendable pawns. Not much we can do about it without stronger labor laws, but that's a multi-decade battle.