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Hutz_Lionel t1_j5v0r7v wrote

Woke Tech bros about to find out that CEOs work for shareholders and not employees.

RIP eveyone who’s job was nothing more than to prick around in PowerPoint and format “decks” all day.

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OffByOneErrorz t1_j5vhccz wrote

Some Google tech bro who's been collecting 250k salary and 100k in stock bonuses for the last 10 years.

I sleep.

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fast327 t1_j5xopxi wrote

The tech bros that live in a van after getting their first career job though. Bay Area salaries look high for a reason.

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biobennett t1_j5v9q2l wrote

To be fair, their pay band/wealth is closer to their shareholders than their average employees. Not only are they accountable to their top shareholders, they start to identify with them as their kind of people

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CreativeMinds47 t1_j5vog52 wrote

Where are all those vids with girls not doing anything all day long at the office gone??? Wake up at nine, shower, going to the office where I have free breakfast, going to the trace to chill on the sun, going to the free lunch, going to the.... well, hell I guess!

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DragonStrategy t1_j5x81mj wrote

They are still there, still not doing anything, just not talking about it.

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PAPRHNDS t1_j5va9k0 wrote

Such a good movie!

Time to dip the fists in resin and glass now.

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D4rkhorse27 t1_j5vvp45 wrote

Cut 2 billion in salary while spending 47 billion on buybacks 🤣 Google logic

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Yoda2000675 t1_j5w71z8 wrote

Any good company will buy back shares when the price drops enough. Its a good strategy

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noobexperienced t1_j5w7skd wrote

That’s exactly what I thought. If they would be selling it’s when it’s sus

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employedGoldfish t1_j5ylgcd wrote

It's actually a narrative they push, that it's good for shareholders. If you look closely, it's mostly not. They issue as much as they buy back. Basically, what appears to be done for shareholders is actually going to exec or employee compensation.

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Grandmasterz9 t1_j5w30f6 wrote

What's wrong with that though lol

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employedGoldfish t1_j5yl83k wrote

They buy back with one hand yet issue more shares on the other. If you look at the amounts, it's a wash. The only big tech company that actually buys back and actually minimizes the outstanding shares, thus increasing the share price for shareholders is Apple.

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Plenty_good_stuff t1_j61ep4d wrote

Buybacks inflate shareholder value, fuck the employees

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D4rkhorse27 t1_j61jppm wrote

🤣👍 Exactly you have a fundamental understanding of the company’s core values

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BonjinTheMark t1_j5wzndg wrote

Glad we could include diversity & inclusion

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hard-ballz t1_j5x1c28 wrote

She just sits in the back not doing anything

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lee82gx t1_j5xd5s2 wrote

What the hell are tenured employees? Job for life? Asking for a friend.

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kittycuddler t1_j5y19o6 wrote

In case you're not just memeing, Tenure basically means you have the job as long as you want as long as you don't do some heinous shit more or less. It's EXTREME job security. https://en.wikipedia.org/wiki/Academic_tenure

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lee82gx t1_j5yd2u3 wrote

I am not yet memeing, but Tenured academic positions in educational institution vs tenured Google employees sound very different in concept.

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Echoes-Pompeii t1_j5ydvxv wrote

Why is there so much focus on google employees they had it made and were so pampered. People get laid off all the time that are struggling much more than any google employee

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ProfessionalFishFood t1_j5yy383 wrote

Who would have thought non revenue generating roles would be eliminated during an economic downturn?

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Lmaoooooooooooo0o t1_j5v1t7h wrote

Google stocks are literally dying right now.

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TeemoMain23 t1_j5vfvxf wrote

people are so full of shit google is still at 100$ mark for 6 months no recession no stocks dying

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Lmaoooooooooooo0o t1_j5waznz wrote

The guy above posted "Google shares are rising", meanwhile they literally plummeted -5.3% today on my broker - which is an insane move. My portfolio went down multiple thousands.

What I don't understand is, that when I checked the US market they only fell 2.5%.. how?

Are us europoors really getting fked double time because of the rising value of the euro?

A couple of months ago GOOGL was at roughly $85 & 85€ and now it's back at $95 but still at 86€.. disgusting.

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FlatSnakePenis t1_j5xns8o wrote

The guy above has no idea of GOOGL's stock price. It was at a high of $99.50 on Tuesday, and hit a low of $94.00 today (Wednesday). I have no idea why I look at Reddit - the posts are moronic.

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unbannednow t1_j5yhib5 wrote

If you own US stocks you're indirectly shorting the Euro so your position goes down when the Euro goes up

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Lmaoooooooooooo0o t1_j5ym94s wrote

That's interesting to know lol. I can feel the 10% difference since 1€ is now $1.10 again.

Is there a name for this phenomenon?

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unbannednow t1_j5yqmda wrote

It’s just called currency risk or foreign exchange risk. Some hedge funds and corporations try to hedge against it using futures. It can be in your favour sometimes though like last year when the Euro was falling

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