executive bonuses and pay rises should be halted before any mass layoff is conisdered.
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Tim Cook Says Apple Still Not Considering 'Mass Layoffs'
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yeah forcing employees to return to office so they voluntary quit are not layoffs 😉
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I'm just barely a capitalist and yeah, It would be corrupt. But corruption is very large part of the system we live in now. It's as related to core capitalism as a duck is to the planet Pluto. Hedge Funds, Wall Street, investment banks, the ratings agencies committing fraud for financial products....it's laissez faire feudalism .
If Cook announced a mass layoff, shares of Apple would likely rally (more so than shares did after reporting earnings today). That‘d what has been happening recently when other large tech companies have announced mass layoffs.
Laying off employees to appease short-term focused shareholders has been all the rage so far in 2023.
easiest way to push stock price up is to announce layoffs.
we live in strange world.
every one wants people to loose jobs (increase in unemployment rate) so that inflation will go down.
this is so wrong.
Tim Cook took a pay cut earlier this year.
Apple CEO Tim Cook to take 40% pay cut this year
CEO requested pay cut after shareholder vote on executive compensation.
arstechnica.com
TheYayAreaLiving 🎗️
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Since Tim Cook doesn’t want to leave Apple. He should consider taking another pay cut.Tim Cook took a pay cut earlier this year.
Apple CEO Tim Cook to take 40% pay cut this year
CEO requested pay cut after shareholder vote on executive compensation.
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Credit where credit is due, the other tech giants all laid off thousands of employees while their CEO actually got raises.
arstechnica.com
said:Credit where credit is due, the other tech giants all laid off thousands of employees while their CEO actually got raises.
Googlers angry about CEO’s $226M pay after cuts in perks and 12,000 layoffs
Sundar Pichai compared to Lord Farquaad as employees share memes about CEO pay.
arstechnica.com
Tim Cook is probably choosing not to lay off people not because he cares about their financial well-being, but rather because after running the math, it was discovered that keeping them will generate more profits than laying them off. Cook values profits over people.
That’s capitalism for you. That’s exactly the fiduciary duty that a ceo has. Maximize profits by producing products and services people want and by strategic use of personnel to maximize their potential.
True, but that's not how Steve Jobs ran things. Jobs did intend for Apple to make a profit, but not maximize profits. Jobs prioritized users over profits. A few examples of that include charging lower profit margins than Tim Cook, and including various accessories in product boxes (such as extension chords, microfiber cloths, charging bricks, and headphones) instead of removing them and charging $19 for each accessory.
Or rather, you can’t do mass layoffs when there’s literally no excess fat in your company to trim. Apple didn’t jump on the bandwagon and hire people like no tomorrow during the pandemic, so they aren’t facing the problem that Google, Amazon and Microsoft are.
those are the words your hear from executives, right before a massive layoff.
right: "mass layoffs is not something that we're talking about at this moment," said Cook, in an interview with CNBC."
We're not talking about it at the moment - can also mean - we already decided to fire x amount of ppl come Q3 - we are no longer talking about it.
Yep, and they have a lot more Apps that they can just stop supporting and get rid of any contractors. Oh, wait, they do that already.
I'm not sure I agree with "prioritized" here, but I do think Jobs had more balance. I also think he understood the future and how being greedy would affect the brand and future sales. Jobs was a visionary, Cook is really no more than a clerk that can read spreadsheets.
Most apple workers are contractors that have already been laid off and the forced return to office that is causing more. People seem to be too dumb to look and see that they are the same as any other company. I don’t know why people seem to shill and simp for companies all the time.
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Sorry, no Apple employees are contractors by definition of employee.
Define "mass" layoffs, most companies lay off by attrition, just don't refill positions and pile more work on existing employees.
Of course they can. This is about increasing Profit and Shareholders value. Year over year. If you miss the earnings or profit goes down, shares goes down...then bad things will happen to employees usually.
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