This is 25% of their workforce; this isn't some sort of greed thing it's a serious cut to the companies operational ability due to the downturn of their product line.
Maybe he could destroy his wealth to keep the employees around a bit longer but it's better for everyone if they move on and the company has a legitimate opportunity to survive. Besides people don't want to be on corporate welfare anyways, they'd rather be part of a company where they can add meaningful value.
>Besides people don't want to be on corporate welfare anyways, they'd rather be part of a company where they can add meaningful value.
Funny. Those companies don't seem to be hiring. Everyone is doing layoffs. Maybe you said that wrong? People running companies don't feel obligated to employ, therefore everyone is now Someone Else's Problem.
As far as I can tell job postings in software are up this year. Executives love expanding, it's the most exciting part of the job. While there are many sectors inside software which may be doing better/worse, I can say my company is hiring, and I have no trouble getting interviews elsewhere if I want them.
I'm not sure if that's true? There are a few companies in every industry who pay well above average, and then most jobs pay a more normal salary (110-150 would be my estimate). Maybe you're just not looking at the top companies anymore? Even if it was dropping through I don't see how that's relevant
a product line that is still expected to make $6B this year plus a bunch of other massive IPs. Come on, if he can't keep the team together with that budget then he should step aside and let someone in charge who can.
Maybe he could destroy his wealth to keep the employees around a bit longer but it's better for everyone if they move on and the company has a legitimate opportunity to survive. Besides people don't want to be on corporate welfare anyways, they'd rather be part of a company where they can add meaningful value.