Why do we need reductions in force when we're doing so well? We are recording record profits and the stock is doing better than it ever did. Why continue to PIP and fire good people when there is absolutely no need for it? Is corporate greed really that strong that not even such amazing results are good enough to satiate it?
5 replies (most recent on top)
@1vyv All day long. My 401k is smoking hot! Get back to work.
Maximizing shareholder value. Dividends. Greed.
To prepare for the day oil prices plummet.
Management learned from the recruiting binge of 2017-2018.
Now they are overcompensating and going in the opposite direction, a shrinking binge.
Management has no long term vision, it just overreacts to compensate for past mistakes.
Think about all the safety fundamentalism that was put in place after Valdez.
Before Valdez, there was no safety culture at all, you can smoke a joint or have s3x in the office, and nobody would care.
After Valdez the company became a safety fundamentalist totalitarian regime, you couldn't just walk and talk on your fking phone without being "actively cared for".
This is just the same behavior because the company is run by the same kind of people that run it in the 80s.
Record profits is not a reason to stop pruning. Recent performance is in response to events that are temporary and not because of any amazing work done by EM management.
There are too many people in some areas and way too few with the right skills in others. In the last upturn, managers were rewarded for growth and they over-hired warm bodies to fill their fiefdom. Unfortunately, when times are tough, many of the good people who were hired have to suffer the consequences. (Sadly, almost all the good experienced hires and some new hires I knew were the first to be PIP.)
With the mass resignations, the remaining good performers are overloaded. There are low performers with little skills staying alive or protected. Then there are those who were assigned to jobs they are ill-suited for by careless/clueless supervisors. The lack of career development and training is mind numbing. Many supervisors have neither the technical depth or people skills to organize the work. Too many managers complicating the work and creating more problems than they solve. The ranking system has also led to unhealthy competition between peers as well as between supervisors and direct report.
A hard reset is warranted but not likely to happen.
The execs making millions just want to squeeze the minions making thousands.
Actually reducing headcount in USA while increasing headcount in India. Not a huge savings but it is to justify huge Exec bonuses.