The CEO is worth 7B+. 1000 employees at 100k/yr would cost him 100M - less than his net worth fluctuates on any given day and only 20% of other costs savings they have identified.
Executives care little about the stakeholders: the employees, the customers, the community. It's their company, too. They only care about investors and themselves. People who "own" pay a lower tax rate than those that "work". Let's fix that and make things great again.
I think you should reconsider the cost there. $100k/yr is likely well under the average for the people they're letting go. In addition, pretax salary represents only a portion, say 2/3 or so very roughly of what it costs a company to have an employee. Benefits packages and payroll taxes can cost a huge amount too.
This is 25% of their workforce; this isn't some sort of greed thing it's a serious cut to the companies operational ability due to the downturn of their product line.
Maybe he could destroy his wealth to keep the employees around a bit longer but it's better for everyone if they move on and the company has a legitimate opportunity to survive. Besides people don't want to be on corporate welfare anyways, they'd rather be part of a company where they can add meaningful value.
>Besides people don't want to be on corporate welfare anyways, they'd rather be part of a company where they can add meaningful value.
Funny. Those companies don't seem to be hiring. Everyone is doing layoffs. Maybe you said that wrong? People running companies don't feel obligated to employ, therefore everyone is now Someone Else's Problem.
As far as I can tell job postings in software are up this year. Executives love expanding, it's the most exciting part of the job. While there are many sectors inside software which may be doing better/worse, I can say my company is hiring, and I have no trouble getting interviews elsewhere if I want them.
I'm not sure if that's true? There are a few companies in every industry who pay well above average, and then most jobs pay a more normal salary (110-150 would be my estimate). Maybe you're just not looking at the top companies anymore? Even if it was dropping through I don't see how that's relevant
a product line that is still expected to make $6B this year plus a bunch of other massive IPs. Come on, if he can't keep the team together with that budget then he should step aside and let someone in charge who can.
The vast majority of people have to work in order to leave and for the same majority leaving employment is not easy and frequently not an option because they risk being unemployed for long periods of time. Or when they do leave the new place is even worse.
This statement is divorced from the reality of the situation and, frankly, sounds like it comes from a position of privilege. Most job markets are not like the software developer job market where we can just leave and expect to find gainful employment with better pay and better opportunities within a couple of weeks.
Is that not an admission that his poor management and lack of vision cannot foresee any way to make profitable use of those people's labor?
A company raking in 5-6 billion per year can't find any profitable bets to make? Possibilities to invest in? All they can do is cut?
LOL. If you're that bad at capitalism then please resign and let someone else give it a try.
Reminds me of PG&E. So bad at being a for-profit electric company they need constant state handouts to guarantee profits. They made bad contracts so they need a PCIA fee for not selling me electricity. Hedging? Severing contracts? Arbitrage? Forecasting? Never heard of those, now make with the free coin! My son... if you are that bad at capitalism shut it down!
I agree with Warren Buffet's take here. A company that cuts or can only pump dividends is basically saying "we can't figure out how to make productive use of people and/or cash". What an unbelievable joke.
Excellent work on Tribal Trouble. I'm a huge Java fan and I had no idea this existed (usually you only hear about Minecraft and RuneScape). I wonder how much OpenGL/LWJGL code there is. It could maybe run in the browser with CheerpJ or TeaVM if that code could be ported to WebGL.
My labor of love is SnapCode: https://reportmill.com/SnapCode . It has a small interface (camera + vertex buffer) that can run on either desktop or in browser.
This would also be a great candidate for JDeploy (https://jdeploy.com), too, to provide a nice download package for multiple platforms.
Because of Trump, and just like Trump, this is a perfect storm. Unrestrained AI and crypto are causing a surge in demand at the same time Trump is spitefully and recklessly killing wind and solar installations and subsidies.
Trump-licans - the party of mean and stupid and self-destruction.
I totally agree with this! Oracle still spends time and money promoting Java client, and the browser is now the largest client platform. They could really revitalize Java client by backing CheerpJ.
I need to check out the tailscale solution, although CheerpJ also makes it trivial to plug in a proxy server, which I currently do in my app that supports cross origin.
I use CheerpJ to do new development that is spectacularly cross-platform, runs native on all the major platforms and everywhere else in the browser with a single code base. I don't think there are too many alternatives for that and I suspect Java + CheerpJ is one of the best.
It seems obvious that elon hasn't even showed up for work in years. His only real tesla-related effort has been to try to strong-arm an illegal 50B pay package. The board should be replaced for negligence and he should be fired for malfeasance and fraud. I'll bet the stock would jump 10%+ overnight.
The idea that he's the richest man in the world is a joke. Half his rapidly declining wealth is based on SpaceX, a "360B" company with no profit and < 12B in revenue that blows up and burns up its own products more often than not.
Elon asked for $50 billion in pay. Tesla's TOTAL lifetime earnings as a company is $35.2 billion. $10 billion of that is selling 'credits'. $600 million of that was Bitcoin gains.
Tesla is a 'battery company' but at Gigafactory Panasonic makes batteries on Panasonic owned/operated lines that just lease space from Tesla.
> that blows up and burns up its own products more often than not
This false. SpaceX’s current product is Falcon 9/Heavy which “blows up and burns up” very rarely.
Starship isn’t actually a product yet, it is an R&D program. If 50% of the test flights on an R&D program fail, that doesn’t tell us anything about the reliability of the finished commercial product. Absolute worst case scenario, Starship never works and is cancelled-SpaceX will have wasted billions but still have a market-dominating product with Falcon. And, despite the recent setbacks, it seems unlikely the worst case scenario will actually happen. More likely outcome is Starship is delayed and burns up billions more in R&D but eventually they get it to work as promised.
It seems obvious that he hasn't even showed up for work in years. His only real tesla-related effort has been to try to strong-arm an illegal 50B pay package. The board should be replaced for negligence and he should be fired for malfeasance and fraud.
The idea that he's the richest man in the world is a joke. Half his rapidly declining wealth is based on SpaceX, a "360B" company with no profit and < 12B in revenue that blows up and burns up its own products more often than not.
Executives care little about the stakeholders: the employees, the customers, the community. It's their company, too. They only care about investors and themselves. People who "own" pay a lower tax rate than those that "work". Let's fix that and make things great again.