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EA will spend over $125 million laying off 5 percent of its workforce
(www.gamedeveloper.com)
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this post was submitted on 28 Feb 2024
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The efficiency of capitalism. Spend god-knows-how-many millions of dollars and time, then realize you'd rather spend 125 million all over again just to go back and spend even more millions to hire back the dame numbers again in 1-3 years.
They make 5 billion a year, thats less than 2.5% of the money they make every year, it's a rounding error to make the spreadsheets look real good to the money lenders .
My company just let me go with a 6 figure package (x amount of pay + stocks). They could have easily kept me there for another year, but that's not as good for the spreadsheets.
I understand that, but still, the decision is a net negative. They are merely acting based on short-sighted insights.
Yeah that was kinda my point. All that matters is what the spreadsheet looks like now. It would have probably been a net positive to keep me given they are only going to grow and spend a fortune on hiring and new stocks. That's a different spreadsheet though, I also live in a country where it's expensive to fire full time employees collectively, so it's not like they are paying these kinds of sums for everyone. It's pretty cheap to make things look good on paper.
Yeah, their whole goal is to look good on papers and stock market. Not to grow as actual company. They would rather cripple themselves than to strengthen themselves by slow growth...
Short term gains are king for stock value.