Fucking CEO first thing they do is cut workers. Why not cut your Fucking overpaid salary. They could ask chat gpt and it would of told them that. CEO are worthless just like AI.
I agree, but I think I understood the "why" part these days. The CEOs job is not to run the company, it is to extract as much wealth to the investors who technically own the company. The CEO can cut workers and let the company essentially coast downwards. This means that stockholders can have a share of a company that is temporarily doing more with less, and this company's value has gone up for a brief time. It is then up to the shareholder to dump the stock before the ramifications of the layoffs impact the business. So the shareholder needs to make sure they aren't holding the bag that is the company shares. As far as I can tell the majority of our economy has become a game of hot potato of don't get caught holding the bag when the company collapses. The CEO works for the shareholders, he can be fired for not creating value, so he's just doing his job which is to destroy the company slowly to extract value for shareholders.
If my biases aren't apparent, I see public companies as places to avoid working for if at all possible. These public companies are some flavor of monopoly and are just enshittifying. I say accept that these are all sinking ships, let the workers there know this and when possible, help them find work elsewhere. Fuck this economy and help your friends and neighbors.
2 Comments
Fredselfish@lemmy.world · 11 pts · 155d
Fucking CEO first thing they do is cut workers. Why not cut your Fucking overpaid salary. They could ask chat gpt and it would of told them that. CEO are worthless just like AI.
WhirlpoolBrewer@lemmy.world · 2 pts · 155d
I agree, but I think I understood the "why" part these days. The CEOs job is not to run the company, it is to extract as much wealth to the investors who technically own the company. The CEO can cut workers and let the company essentially coast downwards. This means that stockholders can have a share of a company that is temporarily doing more with less, and this company's value has gone up for a brief time. It is then up to the shareholder to dump the stock before the ramifications of the layoffs impact the business. So the shareholder needs to make sure they aren't holding the bag that is the company shares. As far as I can tell the majority of our economy has become a game of hot potato of don't get caught holding the bag when the company collapses. The CEO works for the shareholders, he can be fired for not creating value, so he's just doing his job which is to destroy the company slowly to extract value for shareholders.
If my biases aren't apparent, I see public companies as places to avoid working for if at all possible. These public companies are some flavor of monopoly and are just enshittifying. I say accept that these are all sinking ships, let the workers there know this and when possible, help them find work elsewhere. Fuck this economy and help your friends and neighbors.