this post was submitted on 23 Aug 2023
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I'm going to choose to believe the CEO is actively trying to tank the share price for some reason. This is approaching get fired or sued by shareholders level.
Either that or a forced reduction in workforce without having to do layoffs.
It’s this. All the tech companies overexpanded during COVID when free investment money was everywhere. Now they’re all over staffed and want employees to self select out of employment rather than announce widespread layoffs. Meanwhile ruining life for everyone who can’t afford to quit.
That and seeing corporate real estate tanking. Its in the best interest of anyone who owns an office space to encourage return to work to try to help prop up the market long enough to exit.
But the “WORK FROM HOME” company should be doing EVERYTHING to encourage the activity that keeps THEM in business. It’s mind-boggling!
According to local news media, small businesses want this return to office because their restaurants are hurting. Doesn’t seem like they would lie about that.
They are not all overstaffed lol, that is total nonsense. Most "tech" companies are not FAANG or flashy startups.
These companies are greedy and trying to prop up real estate value while flexing on their employees, that's all there is to it. My company is severely understaffed and still refusing to hire people out of sheer greed.