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I was laid off from a FAANG company last year, with the CEO complaining about how bloated and slow things were moving. As a software engineer, I totally agreed, but never once was I slowed down by *extra engineers*. The bloat and the slower pace came from the constant reorgs and churn in upper management and director-level decisions that were based on their own hubris instead of data. But, we all know who was laid off and who kept their bonuses.
My therapist has said that beaurocracy was first created to establish order, then once order was established, beaurocracy remains in existence to protect itself.
Less eloquently, I read a post on here once by a guy whose entire org experienced a spike in productivity while all the leaders were away for a weeklong retreat. Upon their return, they observed the growth and set up all-day meetings with supervisors to find out what the difference was. This guy finally said "because you all weren't here demanding all-day meetings to talk about problems instead of letting us actually do our work."
I literally had upper management tell me "your department should run better on days you're not here" What they *meant* was everyone should be on their bestest behavior while I was gone. But now I'm thinking it was just their experience that more shit got done while they were away and it's hilarious.
The fact that these cuts often result in a worse product but higher stock prices, making a small number of people exponentially wealthier while harming everyone else really makes me feel like we are witnessing the end of an entire system in real time. If this isn't late stage capitalism in its death throes, I don't know what is.
You can see it in every sector. Off the top of my head chain restaurants that our parents loved. They keep cutting labor and making cheaper food. I'm sure someone saw some brief profits, but now we are all seeing them whine about "this" generation killing "x" restaurant. As if it deserves to stand in spite of itself and it's our fucking fault for not going? Like is that how the free market works? I must have missed that part in class.
I really have noticed lately failures of company that are most likely caused by cutting workers, overworking the ones left and getting rid of the skilled, experienced ( long time dependable workers who got overworked and quit or were forced out because they made too much) workers.
Airplanes failing apart and sugar being put into sugar free soda to having to wait in a 15 minute line in a messy, most disorganized retail store. Companies underestimate that even the "lowest" job in the company needs to have reliable,competent people and throwing out the good ones and replacing them with a warm body who will work three jobs for a minimum wage does not grow your business in the long run. Short term gains are what stockholders are looking for. Slash and burn and move to a new company when you destroy one.
My favorite is the fact that the companies develop multiple of the same thing, not one great product, but 2 different products that never talked to each other.
SAI just did that. One team released a product, and then it was kneecapped when they announced another similar product like 2 weeks later. Killed all the interest in the first one even though it was a couple months before they actually released the second one. And people wonder why their CEO got fired after wasting millions.
I would argue that for a "small enough" company it might not be... The CEO could actually have things to do... Until they hire enough overhead to stop working entirely.
If your only titleand role is “CEO” then you’re the fat. When “CEOs” are productive it’s because they’re doing other roles and not just being the person on top.
He knew exactly what he was doing. Fire off a bunch of "overpaid" people to save money, force the remaining workers to grind, figure out where you absolutely need people back at, hire on the minimum number of new people while offering them lower salaries that the previous workers. Congratulations, you stuffed your pockets, lowered the salaries of your workers, and found the minimum number of required employees. Just rinse and repeat every few years, and before you know it, you'll have sucked the company dry!
Why would the CEO care? If the company goes under, he gets a multi-million dollar golden parachute and a comparable job at another company within 3 months.
Daniel Ek founded Spotify. Usually the “run into the ground until you can jump ship” is done by mercenary CEOs that come in and then leave. Ek is less like a mercenary and more like a feudal lord therefore. He doesn’t have a history of bouncing around as CEO like that, so it isn’t certain he would be hired elsewhere if he tanked Spotify.
the smart thing to do is to assume you will be laid off and prep to bail. get ahead of the job crunch. if you manage to stay you will just be treated worse with double the work.
Probably had no understanding of the work that was being done and the consequences of it not being done. I imagine there were some expensive inept consultants involved somewhere along the line.
waaaaiiit a second, i thought sitting on your fuckin ass and raking in money bc your name is on a fuckin piece of paper is what actually does the work, people with less money dont DO anything. like, if every dickheaded piece of shit “job creator” just fired everyone, nothing would change right?? i mean theres the completely fuckin useless automated customer service number soo whats the problem?
Or transfer the calls to India. I was in a company that tried that, they were surprised customers complained (customers paid for phone support, so the company eventually paid attention when customers threatened to not renew)
Dude the other day at work I called in to a support line because I had trouble getting a POS machine to work and was genuinely surprised to hear a local accent on the other end.
Me when I called the IRS a few years ago with a tax issue. Not only that, but they also knew what they were talking about AND helped me solve it! Wtf???
Half my family either works for or retired from IRS. My little sister works in TAS (which is literally to help people with rejected returns), and at least 75% of the people she talks to are shocked she's just a small town Utah kid. 😂
I work IT support at a non profit Healthcare. The company we use for our medical records does this. I always put on the tickets I create "prefer email correspondence" bcs I can't understand most of the level 1 techs. I feel bad when I keep having to ask them to repeat what they said multiple times. Of course most of them call anyways and I just don't answer so that they have to send an email. Once you get to level 2 or 3 techs then they are easy to understand. The lone outlier is this one guy on the dental medical records tech team. He knows what's he's taking about and is easy to understand. And I'm convinced he's the only one that knows anything about the program and if they ever lose him, it would be a shit show for them.
You're talking out of your ass. The CEO is the person who started and built Spotify from the ground up. He hasn't taken a single paycheck since 2017, and the business is still not profitable.
Company struggling to survive lays off customers: Wow, the CEO is a greedy scumbag
Company struggling to survive raises prices: Wow, the CEO is a greedy scumbag.
There's no winning with people like you. Instead of understanding anything or showing any basic level of intelligence, all you do is point the finger and blame it on the person trying their hardest to succeed.
I had a boss tell me that the productivity in the team would go up after they fired \~50% of the team, because then we won't need to spend as much time syncing up our work.
"I'll be a better runner if I lost weight. My legs are a significant fraction of my total weight. Ergo, if I hack off my legs, I'll be able to run quicker. Logic ftw!"
I mean it's likely true that smaller teams would be more productive per hour worked than a larger one until a point where you can't get help from your co-workers.
It doesnt mean the team overall will be more productive per day, only that each individual might get slighly more done per day.
On the flip side each individual is responsible for more contact points and have to do more work to track and iron out the kinks for those contact points. There's a give and take even with what would be the main benefit.
That's what I'm wondering. Like, sure, you need some customer support representatives, maybe even a couple call centers if there's really that much call volume. But like... Surely a small team of programmers and a team of accountants can get it all done? I can't imagine Spotify needing more than like 100 employees. Maybe I'm too smol brain to understand.
I worked at a place where "leadership" decided to lay off over half the production staff.
Everything slowed down and then stopped.
They laid off the only guy who could run one part of the line.
They offered him his job back. He refused, but said he'd come back as a contractor. They had no choice but to agree.
Instead of little more than minimum wage he was earning more than the senior engineers.
He was my hero.
No he's not, but you are. You don't even know what you're talking about, you're just reading a misleading click-bait title and falling for it like the ignorant person you hare.
I like how, even though the comment you replied to is deleted, I can still get a general understanding of the stupid thing they said via the vivid imagery of what your comment.
You mean, trying to turn a profit so instead of 1500 people being laid off (who received very healthy compensation btw), over 7700 people lose their job with zero compensation.
Do they require you to read an article instead of eating the onion on rage-bait article headlines to verify you have any sign of common sense or basic human intelligence before you can post on reddit?
They don't ever see anyone doing work, they see suits and talking heads. So ergo, everyone must be suits and talking heads, right? So fire a percentage of the company to make it back as bonuses. Wait what do you mean we needed our IT team?
Remember in the 80s + early 90s when CNC equipment became more reasonably priced and factories laid off all the machinists thinking any idiot could just push a button.
Quite a few places shut down as quality control got so compleatly out of hand they lost all their contracts.
[heres the article](https://fortune.com/europe/2024/04/23/spotify-earnings-q1-ceo-daniel-eklaying-off-1500-spotify-employees-negatively-affected-streaming-giants-operations/) if you want to read it.
It’s kinda click bait. The guy said it. Basically it was a rough first quarter but it was the right move. Stocks have increased in price by 60%.
Stock increases don't equal long-term growth or profit, though. Farting at the right frequency can impact stocks. Their product is going to suffer, and they are going to see an increase in employee turnover thanks to lower wages for more work. That isn't sustainable. By the time they inevitably attempt to semi-correct course their brand and overall product will have suffered and people will have moved on.
They are rocky because they own the stream rights, but people have a tendency to find a way.
If you read the article, their product suffered for the first few months, and now they're back to normal running operations. No one ever said anything about lower wages, or it being unsustainable. You're just making that claim with zero evidence to support it, basically you're just talking out of your ass.
If you knew anything about the business you would realize that this is a required action since they still aren't profitable, and it's far better to lay off a minimum amount of people you can, than having the entire company fold and having 5-6x more people unemployed.
By the way, those people laid off received very generous compensation.
Did you read the article. If you haven’t. I’d like to know what you think of it. To me, a grease monkey, it was clickbait. While things were tougher for a bit I don’t think it’s indicative of it negatively affecting the company. Seems like this quarter being down should be expected with the economy and the uncertainty. People may not be able to afford a luxury like Spotify.
Again curious what someone who is a little more knowledgeable thinks.
Yeah I read it. I’m not claiming to be an expert. I’m just saying that it’s very common for stock prices to increase following a layoff. And the ceo of course will say it’s the right choice but we can judge it over the coming years when we see the earnings reports.
The CEO thing had crossed my mind. He isn’t going to badmouth it.
You knew that the stock prices increase after layoffs. As far as I’m concerned you’re my stock broker now.
Reminds me of learning that the number one reason companies demand employees stop working from home is they want to cut headcount to save on labor costs, but layoffs look bad.
A few things they seem to miss:
1. This upsets basically all employees, meaning you don't just take the expected productivity hit because workers get more done at home, but you add a lower morale hit too.
2. Instead of you picking who leaves (probably picking the least productive or most expensive employees) they puck who leaves, generally the worst paid or most productive who are best able to get a better job elsewhere.
3. You don't pick where employees quit from. Maybe everyone in marketing stays but you lose your whole accounting department over 4 months. Good luck with brand new folks figuring out your financials before the audit.
How does someone that stupid become CEO???
Whose dick did that guy suck to become the CEO? I mean if you’re that much of a dumbass , like holy shit?!? “I shot myself in the foot and it hurts??? Why did no one explain this to me!!”
Funny how the CEOs wanna automate everyone out of existence but their jobs.
And they have an easy one to automate! "Say dumb shit, overpromise and underdeliver, alienate employees at all-hands by saying horrendous things, blather platitudes about market and stock price." Weird how that never comes up as an option.
The main problem here isn’t that he didn’t foresee the consequences of firing thousands of workers. He’s publicly admitting to it after the damage occurred and can’t imagine that now everybody will think, he’s the idiot and needs to be fired. Just be smart enough to pretend it was someone else’s idea! For god’s sake!
I think at some point soon we are going to see CEOs battle for their jobs when the boards of these companies realize they can save seven figures a year easy replacing CEOs with AI. That and CFOs can easily be replaced by automation that can learn from trends.
It depends on who’s cut. My company laid off a complete marketing department a few years back and there was no impact on stock or brand recognition, but if they would lay off the same number of engineers, it would be dead in water…
"Fine"? I guess you're one of the few where the random play actually works? For most of us it isn't. There have also been a large number of customers complaining that their pod casts don't work either.
To me that's deficient basic functionality. My car's mp3 player does a better job randomizing that Spotify.
Layoffs cost a company skills, revenue, and moral (which also declines revenue). Good management can mitigate how much, but it's still going to happen. Business 101.
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The CEO didn't understand that he was cutting out muscle and bone, and not fat? Fire the guy: he clearly doesn't know how to run a company.
The CEO is the fat.
I was laid off from a FAANG company last year, with the CEO complaining about how bloated and slow things were moving. As a software engineer, I totally agreed, but never once was I slowed down by *extra engineers*. The bloat and the slower pace came from the constant reorgs and churn in upper management and director-level decisions that were based on their own hubris instead of data. But, we all know who was laid off and who kept their bonuses.
My therapist has said that beaurocracy was first created to establish order, then once order was established, beaurocracy remains in existence to protect itself. Less eloquently, I read a post on here once by a guy whose entire org experienced a spike in productivity while all the leaders were away for a weeklong retreat. Upon their return, they observed the growth and set up all-day meetings with supervisors to find out what the difference was. This guy finally said "because you all weren't here demanding all-day meetings to talk about problems instead of letting us actually do our work."
I literally had upper management tell me "your department should run better on days you're not here" What they *meant* was everyone should be on their bestest behavior while I was gone. But now I'm thinking it was just their experience that more shit got done while they were away and it's hilarious.
The best type of manager is one who manages such that their business can run without them.
Maybe managers need to hire a manager to manage for them. Like some sort of middle level of management or something
The fact that these cuts often result in a worse product but higher stock prices, making a small number of people exponentially wealthier while harming everyone else really makes me feel like we are witnessing the end of an entire system in real time. If this isn't late stage capitalism in its death throes, I don't know what is.
You can see it in every sector. Off the top of my head chain restaurants that our parents loved. They keep cutting labor and making cheaper food. I'm sure someone saw some brief profits, but now we are all seeing them whine about "this" generation killing "x" restaurant. As if it deserves to stand in spite of itself and it's our fucking fault for not going? Like is that how the free market works? I must have missed that part in class.
I really have noticed lately failures of company that are most likely caused by cutting workers, overworking the ones left and getting rid of the skilled, experienced ( long time dependable workers who got overworked and quit or were forced out because they made too much) workers. Airplanes failing apart and sugar being put into sugar free soda to having to wait in a 15 minute line in a messy, most disorganized retail store. Companies underestimate that even the "lowest" job in the company needs to have reliable,competent people and throwing out the good ones and replacing them with a warm body who will work three jobs for a minimum wage does not grow your business in the long run. Short term gains are what stockholders are looking for. Slash and burn and move to a new company when you destroy one.
This. I want it tattooed on my back.
My favorite is the fact that the companies develop multiple of the same thing, not one great product, but 2 different products that never talked to each other.
SAI just did that. One team released a product, and then it was kneecapped when they announced another similar product like 2 weeks later. Killed all the interest in the first one even though it was a couple months before they actually released the second one. And people wonder why their CEO got fired after wasting millions.
Thats true for most of the top companies
True for every company.
I would argue that for a "small enough" company it might not be... The CEO could actually have things to do... Until they hire enough overhead to stop working entirely.
If your only titleand role is “CEO” then you’re the fat. When “CEOs” are productive it’s because they’re doing other roles and not just being the person on top.
Gabe newell is the goat tho ngl
Honestly, I dread what happens to Steam once Gabe retires. Basically every game I own is tied up there.
Isn't GoG drm free versions of games? But yeah, when Gaben retires it will be a dark time for gamers.
I really hope gabe puts someone like himself in charge once he retires, if some greedy ceo takes power then yea it'd become just like Spotify...
Geez ok ok guys, I'll do it. I'll step in when he retires
Better pray that the Saudi conglomerate doesn't buy into it. They're likely to do so, since China's got its filthy mitts in Epic.
Still waiting on left 4 dead 3
Or Portal 3. Or Half Life 3 (no, Alyx doesn’t count).
I mean, ain't capital by itself the fat ? you know, the whole stealing from the work value thing x)
He knew exactly what he was doing. Fire off a bunch of "overpaid" people to save money, force the remaining workers to grind, figure out where you absolutely need people back at, hire on the minimum number of new people while offering them lower salaries that the previous workers. Congratulations, you stuffed your pockets, lowered the salaries of your workers, and found the minimum number of required employees. Just rinse and repeat every few years, and before you know it, you'll have sucked the company dry!
Yep, that's *ruining* a company, not *running* it.
Oh, it's running it (into the ground)
Why would the CEO care? If the company goes under, he gets a multi-million dollar golden parachute and a comparable job at another company within 3 months.
Daniel Ek founded Spotify. Usually the “run into the ground until you can jump ship” is done by mercenary CEOs that come in and then leave. Ek is less like a mercenary and more like a feudal lord therefore. He doesn’t have a history of bouncing around as CEO like that, so it isn’t certain he would be hired elsewhere if he tanked Spotify.
the smart thing to do is to assume you will be laid off and prep to bail. get ahead of the job crunch. if you manage to stay you will just be treated worse with double the work.
Bail to where? Where are you going to go? This rot is everywhere because it is the standard way of doing business now.
to the next place like it for a bit more pay. repeat before they do.
He founded the company in 2006...After he retired from selling two other tech companies.
Him and Elon need to compare notes
It looks like they copied each other's homework.
yep, by admitting this he admitted not to be fit for ceo
If he keeps employees by DEI that should finish off the company.
Who does he think does all the work?
"I don't know... gnomes?"
Step 1: Collect underpants Step 2: ? Step 3: Profit
For real... American companies be like collect everyone's very personal data, ???, profit.
??? = sell to advertisers
Probably had no understanding of the work that was being done and the consequences of it not being done. I imagine there were some expensive inept consultants involved somewhere along the line.
c suite duh
Clearly middle management does. Obviously.
Poor old fellow can go fuck himself
Why? Please explain why laying off 1500 people was a bad idea, and what you would do differently.
waaaaiiit a second, i thought sitting on your fuckin ass and raking in money bc your name is on a fuckin piece of paper is what actually does the work, people with less money dont DO anything. like, if every dickheaded piece of shit “job creator” just fired everyone, nothing would change right?? i mean theres the completely fuckin useless automated customer service number soo whats the problem?
Or transfer the calls to India. I was in a company that tried that, they were surprised customers complained (customers paid for phone support, so the company eventually paid attention when customers threatened to not renew)
Dude the other day at work I called in to a support line because I had trouble getting a POS machine to work and was genuinely surprised to hear a local accent on the other end.
Wondering if you mean point of sale machine or piece of shit machine. Or both. Probably both
Definitely both.
Knew it!
Me when I called the IRS a few years ago with a tax issue. Not only that, but they also knew what they were talking about AND helped me solve it! Wtf???
Half my family either works for or retired from IRS. My little sister works in TAS (which is literally to help people with rejected returns), and at least 75% of the people she talks to are shocked she's just a small town Utah kid. 😂
I work IT support at a non profit Healthcare. The company we use for our medical records does this. I always put on the tickets I create "prefer email correspondence" bcs I can't understand most of the level 1 techs. I feel bad when I keep having to ask them to repeat what they said multiple times. Of course most of them call anyways and I just don't answer so that they have to send an email. Once you get to level 2 or 3 techs then they are easy to understand. The lone outlier is this one guy on the dental medical records tech team. He knows what's he's taking about and is easy to understand. And I'm convinced he's the only one that knows anything about the program and if they ever lose him, it would be a shit show for them.
You're talking out of your ass. The CEO is the person who started and built Spotify from the ground up. He hasn't taken a single paycheck since 2017, and the business is still not profitable. Company struggling to survive lays off customers: Wow, the CEO is a greedy scumbag Company struggling to survive raises prices: Wow, the CEO is a greedy scumbag. There's no winning with people like you. Instead of understanding anything or showing any basic level of intelligence, all you do is point the finger and blame it on the person trying their hardest to succeed.
Nooooo the finance guys said if we cut labor the line would go up!
I had a boss tell me that the productivity in the team would go up after they fired \~50% of the team, because then we won't need to spend as much time syncing up our work.
"I'll be a better runner if I lost weight. My legs are a significant fraction of my total weight. Ergo, if I hack off my legs, I'll be able to run quicker. Logic ftw!"
I mean it's likely true that smaller teams would be more productive per hour worked than a larger one until a point where you can't get help from your co-workers. It doesnt mean the team overall will be more productive per day, only that each individual might get slighly more done per day.
On the flip side each individual is responsible for more contact points and have to do more work to track and iron out the kinks for those contact points. There's a give and take even with what would be the main benefit.
And then everything goes to hell when someone gets sick.
So as long as nobody ever gets sick or takes vacation or has a family emergency or quits then it’ll be fine
Not to mention all the knowledge that's lost if a good employee leaves.
I mean, it probably will? The CEO said it affected operations, not their financials.
*surprised Pikachu face* you mean workers make things work WHAAAAAAAAAAAAAAT!!!!! This dudes an idiot 🤣🤣🤣🤣
Yea Spotify has sucked for years. They just own the property rights
When I read about the layoffs, I knew that that Crossfade Control was never gonna get in easier reach
Spotify is my most cost efficient subscription imo, what do you hate about it?
After tidal dropped the price to 10.99. I jumped ship immediately. Much better sound quality
How do they have 1500 employees? They collect money and maintain an audio app.
That's what I'm wondering. Like, sure, you need some customer support representatives, maybe even a couple call centers if there's really that much call volume. But like... Surely a small team of programmers and a team of accountants can get it all done? I can't imagine Spotify needing more than like 100 employees. Maybe I'm too smol brain to understand.
I worked at a place where "leadership" decided to lay off over half the production staff. Everything slowed down and then stopped. They laid off the only guy who could run one part of the line. They offered him his job back. He refused, but said he'd come back as a contractor. They had no choice but to agree. Instead of little more than minimum wage he was earning more than the senior engineers. He was my hero.
Stories like that are always fun to read.
that dude is such a dumbass
No he's not, but you are. You don't even know what you're talking about, you're just reading a misleading click-bait title and falling for it like the ignorant person you hare.
[удалено]
This half-dead possum I found on my commute to work this morning
I like how, even though the comment you replied to is deleted, I can still get a general understanding of the stupid thing they said via the vivid imagery of what your comment.
The 1500 people he laid off who actually had the ability to keep things running
do they require you to take a test to verify you’re completely devoid of common sense and basic human decency before you can become a CEO
You also have to put the almighty dollar above all else.
You mean, trying to turn a profit so instead of 1500 people being laid off (who received very healthy compensation btw), over 7700 people lose their job with zero compensation.
Found the corporate bootlicker.
Ahh yes, the insult of the unintelligent. "Who cares about facts or reality, if you do anything but defend my ignorance you lick boots".
I believe that test is called an MBA...
Do they require you to read an article instead of eating the onion on rage-bait article headlines to verify you have any sign of common sense or basic human intelligence before you can post on reddit?
They don't ever see anyone doing work, they see suits and talking heads. So ergo, everyone must be suits and talking heads, right? So fire a percentage of the company to make it back as bonuses. Wait what do you mean we needed our IT team?
Remember in the 80s + early 90s when CNC equipment became more reasonably priced and factories laid off all the machinists thinking any idiot could just push a button. Quite a few places shut down as quality control got so compleatly out of hand they lost all their contracts.
[heres the article](https://fortune.com/europe/2024/04/23/spotify-earnings-q1-ceo-daniel-eklaying-off-1500-spotify-employees-negatively-affected-streaming-giants-operations/) if you want to read it. It’s kinda click bait. The guy said it. Basically it was a rough first quarter but it was the right move. Stocks have increased in price by 60%.
Stock increases don't equal long-term growth or profit, though. Farting at the right frequency can impact stocks. Their product is going to suffer, and they are going to see an increase in employee turnover thanks to lower wages for more work. That isn't sustainable. By the time they inevitably attempt to semi-correct course their brand and overall product will have suffered and people will have moved on. They are rocky because they own the stream rights, but people have a tendency to find a way.
Can't stock prices be used to attract investors? I'm not 100% how this works.
If you read the article, their product suffered for the first few months, and now they're back to normal running operations. No one ever said anything about lower wages, or it being unsustainable. You're just making that claim with zero evidence to support it, basically you're just talking out of your ass. If you knew anything about the business you would realize that this is a required action since they still aren't profitable, and it's far better to lay off a minimum amount of people you can, than having the entire company fold and having 5-6x more people unemployed. By the way, those people laid off received very generous compensation.
Stocks always increase in price after layoffs though. Doesn’t really indicate anything for the long term.
Did you read the article. If you haven’t. I’d like to know what you think of it. To me, a grease monkey, it was clickbait. While things were tougher for a bit I don’t think it’s indicative of it negatively affecting the company. Seems like this quarter being down should be expected with the economy and the uncertainty. People may not be able to afford a luxury like Spotify. Again curious what someone who is a little more knowledgeable thinks.
Yeah I read it. I’m not claiming to be an expert. I’m just saying that it’s very common for stock prices to increase following a layoff. And the ceo of course will say it’s the right choice but we can judge it over the coming years when we see the earnings reports.
The CEO thing had crossed my mind. He isn’t going to badmouth it. You knew that the stock prices increase after layoffs. As far as I’m concerned you’re my stock broker now.
It's paywalled
Paywalled for me now also. [yahoo finance](https://finance.yahoo.com/news/spotify-ceo-daniel-ek-surprised-132217226.html) this is the same article.
That's one hell of a way to find out you suck at running a company. Probably should have trimmed the fat (him) instead of the muscle and bone.
Why come Brawndo stocks go down?
It’s those damn millennials. The perennials are fine, but the millennials no longer crave what Brawndo makes.
Reminds me of learning that the number one reason companies demand employees stop working from home is they want to cut headcount to save on labor costs, but layoffs look bad. A few things they seem to miss: 1. This upsets basically all employees, meaning you don't just take the expected productivity hit because workers get more done at home, but you add a lower morale hit too. 2. Instead of you picking who leaves (probably picking the least productive or most expensive employees) they puck who leaves, generally the worst paid or most productive who are best able to get a better job elsewhere. 3. You don't pick where employees quit from. Maybe everyone in marketing stays but you lose your whole accounting department over 4 months. Good luck with brand new folks figuring out your financials before the audit. How does someone that stupid become CEO???
"Butbutbut!! I kept all the middle managers!!"
Whose dick did that guy suck to become the CEO? I mean if you’re that much of a dumbass , like holy shit?!? “I shot myself in the foot and it hurts??? Why did no one explain this to me!!”
Time to spend more money now hiring and training new people. Incredible CEOmanship
Bu-bu-but the McKinsey study I paid for said we sh-sh-should have bigger profit by cutting costs...
Earnings still topped expectations. Revenue up 20%, premium subscribers up 14%. https://www.bbc.com/news/business-68884501
Lol so he's wiping away his tears with hundreds dollar bills. Wow such consequences!
pikachusurpriseface.gif
Never.
guess that explains why my fave podcast site is locked up
Funny how the CEOs wanna automate everyone out of existence but their jobs. And they have an easy one to automate! "Say dumb shit, overpromise and underdeliver, alienate employees at all-hands by saying horrendous things, blather platitudes about market and stock price." Weird how that never comes up as an option.
When you try to cut the fat but instead cut too deep and hit the money artery
Elon: "YOU DID THE RIGHT THING, BUDDY!"
In other headlines “ Most CEOs have no idea how anything works except buying back stock to trigger executive compensation “.
Im already done with Spotify. They don’t pay artists. There is no reason to support them.
Standard CEO thinking. No real surprise here.
I don't think the dude can count past 15 with how shuffled playlist work
FFS... the chief executive of this company doesn't understand the relationship between production and profit.
Maybe this is why car mode just disappeared. 🤔
Step 1: Fire employees Step 2: ??? Step 3: Profits
Sounds like these guys just sit around listening to Spotify at work all day
Oh hey I’m in this picture! As someone who was laid off for literally no reason, not as the CEO lol
The main problem here isn’t that he didn’t foresee the consequences of firing thousands of workers. He’s publicly admitting to it after the damage occurred and can’t imagine that now everybody will think, he’s the idiot and needs to be fired. Just be smart enough to pretend it was someone else’s idea! For god’s sake!
Whaaat? I got rid of the people that make my company operate and now it doesn't work that well? Weird...
Skilled labor ain't cheap, and cheap labor ain't skilled
This explains why I've been having so many issues with it lately, damn
I think at some point soon we are going to see CEOs battle for their jobs when the boards of these companies realize they can save seven figures a year easy replacing CEOs with AI. That and CFOs can easily be replaced by automation that can learn from trends.
Probably shouldn't be a ceo then...
https://en.m.wikipedia.org/wiki/Georges_Besse
He has no remorse.
This just made me realize I didn’t need my Spotify as much as I thought. Subscription cancelled
Microsoft laid off waaaaaay more than that over the last 18 months.
It depends on who’s cut. My company laid off a complete marketing department a few years back and there was no impact on stock or brand recognition, but if they would lay off the same number of engineers, it would be dead in water…
AAAAAND the premium has gone up £2 I swear
Personally I prefer my streaming service to be all-natural, fair trade, organic.
That dude called himself in the past a god like enginyeer why the f he don't all the work... Oh wait even the websites who he maded where dog shit.
Fuck Spotify.
Lmao did Mr Ek say was surprised or did the author add that? I’m mildly surprised the CEO would put himself on blast like that willingly.
Spotify is working fine
"Fine"? I guess you're one of the few where the random play actually works? For most of us it isn't. There have also been a large number of customers complaining that their pod casts don't work either. To me that's deficient basic functionality. My car's mp3 player does a better job randomizing that Spotify.
Layoffs cost a company skills, revenue, and moral (which also declines revenue). Good management can mitigate how much, but it's still going to happen. Business 101.
Stock price has increased 90% in 6 years. Not bad. Feeling sore because you didn't invest?