Apparently someone’s been doing some reading about how half of Google employees ‘dont do anything and are overpaid’. (I’m not saying it, just echoing crap I’ve seen recently)
murdering_time on
“Don’t be evil” eventually changed to “Okay we can be evil, just don’t be obviously evil” which finally changed to “Do whatever you want, no one’s gonna do shit to stop us”
gamesexposed on
“As of last quarter, Alphabet had more than $100 billion in cash on the balance sheet but, Porat said, “you can’t just drain it” or the company would find itself in the same position as in 2022.
By contrast, distributing cash to shareholders is not considered an expense on the balance sheet, she said, adding that the board has a fiduciary duty to consider such measures. Buybacks and dividends don’t replace investments in AI, Porat said.”
You can’t just drain it, but you can use 70% of it for buybacks and it’s not considered an expense. Got it.
Lokeycommie on
A decline in morale after record profits? I think a pizza party is an order.
barrystrawbridgess on
Sundar is a game managing CEO. He has no vision. The only reason why he got the job is because of the chaotic dynamic between Page, Brin, and Schmidt. He’s a middle manager now asked to lead.
SirJelly on
Big tech is flexing their authoritarian muscles hard right now and I really hope it backfires.
They are trying to rewind the clock and get workers more desperate, but this is just increasing support for trust busting and unionizing even among the upper middle class workers which have historically taken the side of capital.
I hope that 30 years from now we look back on this time and companies recognize it as a blunder that diminished their power.
gtobiast13 on
Under the current leadership Google has broadcast loud and clear its moved from an innovation and growth company to a mature, blue chip, value extraction enterprise, like so many other major institutions have become.
I expect further RIFs, further cost cutting, less innovation, and further reduction in the quality of their products.
WhatTheZuck420 on
‘”Our priority is to invest in growth,” [CFO Ruth] Porat said’
wtf does that even mean?
MyTeaWhy on
numbers are all that matter at google so now they can comfortably fit into a few computers saving money
Goose-of-Knowledge on
Non tech CEO who is a diversity hire from a firing company, does the only thing he knows, fires random people.
psalmnothim on
How to topple
DisneyPandora on
Sergery Brin and Larry Page really don’t care about Google anymore.
They’ve all Sundar Pichai to take all the power in the company
kc_______ on
Working for these greedy corporations looks like a nightmare where you never know when you will be booted like a vermin no matter how hard you work.
RoboNeko_V1-0 on
Record earnings for me, layoffs for you. – Every tech company today
coredweller1785 on
Oh guys easy solution. Turn stock buybacks and dividends into expenses.
Seriously I love how capitalism uses accounting tricks to just screw over workers. What a joke. Of course those are expenses.
Shareholder Primacy is ruining everything
IHate2ChooseUserName on
he is a mother f**king ceo.
peter303_ on
“Do more evil”
Expensive_Finger_973 on
I don’t get why the employees even bother to show up and ask questions at “all hands” and “town hall” meetings like this. Everyone has to know that it is not going to change the execs minds on something, nor is it going to produce answers from execs that will be meaningful or insightful.
My company all but stopped doing these kinds of meetings after they held a few of them where after their PowerPoint slide they got crickets from the few that even bothered to show up. So I heard through the grape vein it became obvious to everyone in management that no one was interested in hearing it.
pexican on
Google employees have stock heavy comp packages though; stock is up ~60% in the past 365 days and ~30% in the past 6 months.
Stock does well = they do well
Just another viewpoint
FlamingTrollz on
Google Executives:
We are the Nobility…
You are the Serfs…
Submit or else. 🫥
BMB281 on
How many more years are we going to have to hear about this until something changes? Shitty work conditions, shitty customer treatment, shrinkflation, and record profits and bonuses for execs and CEOs. And it’ll happen again next year, and the year after that
sndream on
He’s business model is replace existing products/employees with a shitter version.
alcatraz1286 on
Expecting morales from a corporate is just dumb. Maybe that’s why they got fired from google lol
nova_rock on
‘Be quiet working meat, we have to maximize dividends while we replace you. ‘
TyreeThaGod on
Google went from being a great cutting-edge technology company where everyday at work was challenging and interesting at the same time, a company with an unforgettable “don’t be evil” motto, to what it is now, a monopoly run by rigid ideologues that curates and controls almost everything its customers see and how they see it.
It’s a power broker now, not a technology company.
I left shortly after Damoore got fired just for being honest.
font9a on
“Our profits have never been higher, but the headcount needs to be reduced. We only do this as a last resort.”
nirad on
Sundar is running the company into the ground at record speed. Even Steve Ballmer is impressed.
Old_Leather on
Buybacks should be banned.
KangstaG on
This is nothing new. Many other famous companies have gone through this process. A more positive way to look at this is that it gives a chance for start ups to compete.
30 Comments
Summary of leadership’s answer: we DGAF.
Apparently someone’s been doing some reading about how half of Google employees ‘dont do anything and are overpaid’. (I’m not saying it, just echoing crap I’ve seen recently)
“Don’t be evil” eventually changed to “Okay we can be evil, just don’t be obviously evil” which finally changed to “Do whatever you want, no one’s gonna do shit to stop us”
“As of last quarter, Alphabet had more than $100 billion in cash on the balance sheet but, Porat said, “you can’t just drain it” or the company would find itself in the same position as in 2022.
By contrast, distributing cash to shareholders is not considered an expense on the balance sheet, she said, adding that the board has a fiduciary duty to consider such measures. Buybacks and dividends don’t replace investments in AI, Porat said.”
You can’t just drain it, but you can use 70% of it for buybacks and it’s not considered an expense. Got it.
A decline in morale after record profits? I think a pizza party is an order.
Sundar is a game managing CEO. He has no vision. The only reason why he got the job is because of the chaotic dynamic between Page, Brin, and Schmidt. He’s a middle manager now asked to lead.
Big tech is flexing their authoritarian muscles hard right now and I really hope it backfires.
They are trying to rewind the clock and get workers more desperate, but this is just increasing support for trust busting and unionizing even among the upper middle class workers which have historically taken the side of capital.
I hope that 30 years from now we look back on this time and companies recognize it as a blunder that diminished their power.
Under the current leadership Google has broadcast loud and clear its moved from an innovation and growth company to a mature, blue chip, value extraction enterprise, like so many other major institutions have become.
I expect further RIFs, further cost cutting, less innovation, and further reduction in the quality of their products.
‘”Our priority is to invest in growth,” [CFO Ruth] Porat said’
wtf does that even mean?
numbers are all that matter at google so now they can comfortably fit into a few computers saving money
Non tech CEO who is a diversity hire from a firing company, does the only thing he knows, fires random people.
How to topple
Sergery Brin and Larry Page really don’t care about Google anymore.
They’ve all Sundar Pichai to take all the power in the company
Working for these greedy corporations looks like a nightmare where you never know when you will be booted like a vermin no matter how hard you work.
Record earnings for me, layoffs for you. – Every tech company today
Oh guys easy solution. Turn stock buybacks and dividends into expenses.
Seriously I love how capitalism uses accounting tricks to just screw over workers. What a joke. Of course those are expenses.
Shareholder Primacy is ruining everything
he is a mother f**king ceo.
“Do more evil”
I don’t get why the employees even bother to show up and ask questions at “all hands” and “town hall” meetings like this. Everyone has to know that it is not going to change the execs minds on something, nor is it going to produce answers from execs that will be meaningful or insightful.
My company all but stopped doing these kinds of meetings after they held a few of them where after their PowerPoint slide they got crickets from the few that even bothered to show up. So I heard through the grape vein it became obvious to everyone in management that no one was interested in hearing it.
Google employees have stock heavy comp packages though; stock is up ~60% in the past 365 days and ~30% in the past 6 months.
Stock does well = they do well
Just another viewpoint
Google Executives:
We are the Nobility…
You are the Serfs…
Submit or else. 🫥
How many more years are we going to have to hear about this until something changes? Shitty work conditions, shitty customer treatment, shrinkflation, and record profits and bonuses for execs and CEOs. And it’ll happen again next year, and the year after that
He’s business model is replace existing products/employees with a shitter version.
Expecting morales from a corporate is just dumb. Maybe that’s why they got fired from google lol
‘Be quiet working meat, we have to maximize dividends while we replace you. ‘
Google went from being a great cutting-edge technology company where everyday at work was challenging and interesting at the same time, a company with an unforgettable “don’t be evil” motto, to what it is now, a monopoly run by rigid ideologues that curates and controls almost everything its customers see and how they see it.
It’s a power broker now, not a technology company.
I left shortly after Damoore got fired just for being honest.
“Our profits have never been higher, but the headcount needs to be reduced. We only do this as a last resort.”
Sundar is running the company into the ground at record speed. Even Steve Ballmer is impressed.
Buybacks should be banned.
This is nothing new. Many other famous companies have gone through this process. A more positive way to look at this is that it gives a chance for start ups to compete.