Spoiled? Billionaire blames employees for mass layoffs

Keith Rabois, CEO of OpenStore, stated that the dismissals of big techs will not reach your company. For him, the companies that announced mass layoffs, such as Google, Microsoft and Facebook, carried out “fake work” and did not use their employees for effective work.

During the end of last year and the beginning of 2023, these companies announced that they hired many of its employees to guarantee the necessary support that the social distancing of the pandemic provided. They were hired to get through the process that, fortunately, the technology sector was on the rise.

Rabois is part of the “PayPal mafia” and said that the practice is about a range of “spoiled” employees, hired for vanity, just to not lose the professional to the competition. It may seem somewhat controversial, but the vision of the billionaire executive is not the only one among entrepreneurs in the field.

Sharing the same thinking as Rabios, Marc Andreessen, majority partner of the investment

Andreeessen Horowitz, says that the best companies have twice as many employees as they really need and the bad companies get four times as many people unnecessarily.

Mass layoffs in big tech: Twitter hits record

Together, the layoffs reach 100,000 people: Microsoft, Google, Meta and Amazon have the biggest layoffs this year. After the pandemic years and returning to the “normal” world, these companies need to cut excessive spending and are getting rid of the employees they hired.

However, the pandemic is not the main agenda, as Twitter has also laid off 70% of its employees. Elon Musk took over the social network stating that its employees would need effort to reach the goals within what was offered by the social network. The layoffs, of course, have nothing to do with Covid-19 and only fulfilled the wishes of the new owner of the company.

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