Corporate America, Swing Your Ax Wisely

Iria · Jan 22, 2009, 04:24 AM

In December, IAC Interactive CEO Barry Diller said the unthinkable—at least for a corporate executive amid a recession. "The idea of a company that's earning money…to have cutbacks just so they can earn another $12 million or $20 million or $40 million in a year when no one's counting is really a horrible act when you think about it on every level," Diller told the crowd at the Reuters Media Summit. In other words, if you're making money, you shouldn't be laying off huge numbers of employees to please an investor base that's unlikely to be appeased in any case.
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Source: Business Week

Judas · Jan 22, 2009, 06:29 AM

smart man....

Resistor · Jan 22, 2009, 11:01 AM

It so true.. Although some companies are earning big profit, their still lay off people just to get more profit. Nothing but pure greed...

As the saying goes, the rich get richer and the poor get poorer is undeniable with the current era.

Iria · Jan 22, 2009, 03:46 PM

It's all about not just a profit, but an increasing profit. That's what sends up stocks and earns CEOs their big bonuses.

Judas · Jan 22, 2009, 04:24 PM

and it's all simply idiotic..

microsoft for example should be hireing more people... not cutting them... considering the insane wealth they are already raking in

Iria · Jan 22, 2009, 04:27 PM

Totally agree.

Jan 22, 2009, 04:24 AM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	Corporate America, Swing Your Ax Wisely In December, IAC Interactive CEO Barry Diller said the unthinkable—at least for a corporate executive amid a recession. "The idea of a company that's earning money…to have cutbacks just so they can earn another $12 million or $20 million or $40 million in a year when no one's counting is really a horrible act when you think about it on every level," Diller told the crowd at the Reuters Media Summit. In other words, if you're making money, you shouldn't be laying off huge numbers of employees to please an investor base that's unlikely to be appeased in any case. ______________ Source: Business Week

Jan 22, 2009, 11:01 AM	#3
Resistor Get it Going.. Join Date: May 2004 Location: Brisbane ..Oz Posts: 731 Rep Power: 50	Re: Corporate America, Swing Your Ax Wisely It so true.. Although some companies are earning big profit, their still lay off people just to get more profit. Nothing but pure greed... As the saying goes, the rich get richer and the poor get poorer is undeniable with the current era.

Jan 22, 2009, 03:46 PM	Thread Starter #4
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	Re: Corporate America, Swing Your Ax Wisely It's all about not just a profit, but an increasing profit. That's what sends up stocks and earns CEOs their big bonuses.

Jan 22, 2009, 04:27 PM	Thread Starter #6
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 87	Re: Corporate America, Swing Your Ax Wisely Totally agree.