Current Events > Layoffs are strange

(+) Yeah! (+)

It's always said to be to cut costs. How tf did Google have 15,000 people that cost more to pay than they produce in revenue?

Pretty much everyone was experiencing massive prosperity pre 2020 that they could afford that

During bullish times, companies tend over-hire to stock up on employees before other companies snap them up. During bad times, they realize most of those people are redundant or even useless.

Tech companies overstaffed GREATLY during the pandemic as everyone and everything remained at home and used the internet for everything.

Now that people aren't as reliant on it as they were in the past few years, they are balancing back out.

Corporations can take any one-time severance payouts as a restructuring charge that often is used as a strategic tax write off. So theres always that.