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1. tech? no! man, see... (technomancy@icosahedron.website)'s status on Thursday, 02-Feb-2023 05:02:26 JST tech? no! man, see...

   everything in this article is obvious if you've been following the trend of worker organizing in tech the past few years, but it's notable because it's literally the only piece of reporting I've seen so far that actually goes beyond credulously repeating CEOs' talking points to examine what's really going on

   it's not about the economy, it's about reminding workers that they work at the pleasure of the bosses and putting fear back into the equation

   https://www.latimes.com/business/technology/story/2023-01-30/column-how-big-tech-is-using-mass-layoffs-to-bring-workers-to-heel

   • Futt (futt@toot.pt)'s status on Thursday, 02-Feb-2023 05:02:23 JST Futt

     in reply to
     @technomancy I did, and found it hard to take it seriously. Companies like Meta and Twitter - which the article claims are "the most profitable companies of our generation" - have been hemorrhaging money for most of their existence while spending like drunken sailors. When you're constantly in the red and burning investor money, hiring more diversity and inclusion officers should not be on your list of priorities. As the economy goes down the shitter and investors stop sending checks, mass firings are inevitable. Expect a lot more.
     cool_boy_mew and Heavens Feel like this.
   • tech? no! man, see... (technomancy@icosahedron.website)'s status on Thursday, 02-Feb-2023 05:02:24 JST tech? no! man, see...

     in reply to

     • Futt

     @futt did you read the article?

   • Futt (futt@toot.pt)'s status on Thursday, 02-Feb-2023 05:02:25 JST Futt

     in reply to
     @technomancy Or, it's about unprofitable companies with unsustainable business models finally running out of venture capital?
   • cool_boy_mew (coolboymew@shitposter.club)'s status on Thursday, 02-Feb-2023 05:04:34 JST cool_boy_mew

     in reply to

     • Futt
     @futt @technomancy a shitload of those big tech companies, journos, etc. all are bleeding money for ages. They need to shut down already
     
     Apparently CNN is down the gutter and Tim Pool is now more popular than the entirety of CNN
     Heavens Feel likes this.
   • Futt (futt@toot.pt)'s status on Thursday, 02-Feb-2023 05:04:35 JST Futt

     in reply to

     • Futt
     @technomancy Correction; meta was doing OK until the Zuck decided to go all-in on VR chat. Twitter, however, needed a purge...
     https://www.netcials.com/financial-net-profit-year-quarter-usa/1418091-TWITTER-INC/
   • Rocket (rocket@shitposter.club)'s status on Thursday, 02-Feb-2023 05:09:04 JST Rocket

     in reply to

     • cool_boy_mew
     • Futt
     @coolboymew @futt @technomancy Big tech could have been profitable long ago, but they have been in "growth mode" forever. If you run two of the largest sites on the Internet (Google & Youtube), how much growth are you going to have? These companies should have trimmed staff to become profitable years ago. Now that we are in a recession, layoffs are inevitable.
     cool_boy_mew likes this.