This legal responsibility to shareholder profits sure is shitting on everything else. We should change that.
people really shouldn’t get to gamble on companies and people’s livelihoods
The fiduciary responsibility standard is there to protect people’s retirement which is all in the market. It sucks that people are losing are being laid off but I don’t think changing the standard would give these people their jobs back.
You should not be entitled to protection when you engage in gambling knowingly and with your own volition. These protections certainly should not come at the cost of someone’s job, the thing people do to follow the rules and contribute to society.
These people would lose their jobs regardless because twitch is not profitable.
Edit: Investments are made in good faith, and having law backing that and recourse for those wronged is important. Like it or not the millions of people with their money in the market outweighs the temporary bummer that is a few hundred losing their jobs. It might be popular to think that the people being hurt are sleazy venture capitalists but it’s the workers who rely on their 401k to be able to live when they retire or the parents who are trying to save for their child’s education that get hurt.
Holy shit you’re so adorable.
Instead it just makes an entire generation who never gets to retire.
The easiest way to protect retired people is to make sure there are no retired people to protect (taps head)
“As you all know, we have worked hard over the last year to run our business as sustainably as possible. Unfortunately, we still have work to do to rightsize our company and I regret having to share that we are taking the painful step to reduce our headcount by just over 500 people across Twitch,” Clancy wrote.
Cripes I hate corporate newspeak. “Rightsize” isn’t a word, and I hope I never encounter it again.
“As ‘sustainably’ as possible.” I love that one, because it makes it sound like they’re being kind to nature.
Nope, just profit.
Is twitch or prime video even profitable? I’m pretty sure twitch isn’t but prime might be just due to locking people in to making their e-commerce purchases on amazon
…so we can make a profit off your work.
You’re fortunate that this is the first time you’re hearing it, but it’s been a business term for quite some time now. I’ve only ever heard it used as a euphemism for downsizing but one HR lady insisted the term was general, that if you were understaffed you’d still need to right size.
I asked her if in meetings that might lead to some confusion, and she was confident that it never would. She was also an idiot.
When I started getting mentioned in meetings for doing a really good job on tasks that she was supposed to be doing she fired me. She was fired just a few weeks later. Sorry, she was right sized.
Fun reminder: Jeff Bezos makes $9.6 billion a year :)
Wait, Amazon owns Twitch?
Damn, do the same 5 companies just own everything now?
Have you been living under a rock or in a comma during the past two decades? Like 5 dudes own 90% of the world.
Justin sold at the right time
