News / layoffs
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1 min read
Record Profits. Fire the Measurers.
Read more . . . →Cloudflare posted record revenue last quarter — $639.8 million, up 34%, best quarter in the company’s 16-year history — then fired 1,100 people. Twenty percent of the company, out. CEO Matthew Prince needed a word for these people, so he invented one: “measurers.” Accountants, auditors, middle managers, legal. The people who make sure the company doesn’t eat itself from the inside. Gone. Prince and his co-founder insisted this wasn’t a cost-cutting exercise. It was the “agentic AI era.” They released a statement so thick with future-speak it barely registers as English. The stock dropped 24% after the announcement — Wall...
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1 min read
PayPal Fired 20% of Its Staff and Called It a Tech Comeback
Read more . . . →PayPal’s new CEO walked in the door in March, fired 20% of the staff, and announced the company is “becoming a technology company again.” As opposed to what? The 23,800 people who showed up every day and ran one of the world’s biggest payment networks — what were they operating, a nail salon? The framing is built to make you forget there are people in the number. 4,760 of them. When a new CEO says the company is “becoming” something it used to be, the implication is that the existing workforce was the problem. That they de-teched it somehow. That...
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1 min read
They Fired the Humans. The AI Still Doesn't Pay.
Read more . . . →They had a story about this. AI transformation. The robots would do the work, profits would climb, shareholders would cheer, and the humans — well, the humans would figure it out. It was always a tidier story for the people who write the memos than for the people who receive them. Gartner just studied 350 companies — all over $1B revenue, all running AI tools — and found that the ones cutting the most workers saw no better return than the ones that kept people. Zero correlation. The study dropped May 5. The layoffs kept coming anyway. 38,000 jobs gone...
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1 min read
Meta Gives Six Execs $921M Each, Fires 700 Workers The Next Day
Read more . . . →Meta’s board just handed six top executives a new stock package that will pile $921 million onto each of their stacks. Less than 24 hours later, 700 Meta workers got the email. Same company. Same week. Same accountants. The scale breaks your brain if you let it sit. One executive’s new raise alone could keep every single fired worker employed at a solid salary for roughly two decades. There are six of them. Around five and a half billion dollars in fresh comp going to the exact people who decided which 700 families to torch before breakfast. Zuckerberg calls it...
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1 min read
Disney's New CEO Marks Day One By Firing 1,000 People
Read more . . . →Josh D’Amaro is two months into the Disney top job and already he’s sent the memo every new CEO sends: we’re cutting 1,000 jobs. Studio, TV, ESPN, Product & Tech. The castmembers who kept the magic running while the C-suite argued about streaming margins are cleaning out their desks so D’Amaro can prove to Wall Street he means business. Nothing says “happiest place on earth” like watching your boss announce your layoff in the third paragraph of a company-wide email. Disney is sitting on a $180 billion market cap. The first real move of the new regime is to squeeze...
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