Read on Twitter
Hey uhh...
Just in case you’re struggling to read the writing on the wall, layoffs at *delivery apps* *in a pandemic* are yet another pretty solid indicator of economic crisis! https://twitter.com/mikeisaac/status/1353141141026316288
Just in case you’re struggling to read the writing on the wall, layoffs at *delivery apps* *in a pandemic* are yet another pretty solid indicator of economic crisis! https://twitter.com/mikeisaac/status/1353141141026316288
Fun fact: fascism (which is linked to, distinct and different from, and not mutually-exclusive with, white nationalism!) tends to be grow out of, and be fueled by, economic crisis and austerity!
Lots of people have already started offering uninformed responses to this, so:
1) It’s also not an isolated incident! https://www.cbsnews.com/news/instacart-workers-laid-off-fired/
1) It’s also not an isolated incident! https://www.cbsnews.com/news/instacart-workers-laid-off-fired/
2) Generally speaking, companies that are doing well, don’t get acquired by competitors providing the same service! They get acquired by companies wanting to expand their portfolios! When companies get eaten by competitors, that’s a sign they’re... not doing great.
Again: delivery companies doing poorly enough to get eaten by competitors, in a pandemic, isn’t a great sign.
3) I’ve been through a whole lot of acquisitions! When a company doing really well buys out a company doing pretty well, because the two of them are likely to do superbly well when they join forces... layoffs are not a part of that.
Post-merger layoffs tend to sour the working dynamic between new peer groups, so companies that are doing well and expecting to see expansion tend to retain already trained talent, rather than trying to cut costs short term, only to spend astronomical amounts hiring later.
This thread probably should’ve had replies restricted, so I guess I’m just going to block anyone who feels the need to incorrectly explain M&A layoffs to me, lol.