Always seems to be the plan. Maximise the immediate gains, send the company into spiralling losses then golden parachute into another cushty CEO job to rinse and repeat.
The 2025 Bum Thread
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UK firms hold off on hiring as job vacancies fall
The employment market is "weakening" official figures suggest, as cautious businesses delay recruitment.
www.bbc.co.uk
And something we knew already..
It's amusing because a large number are 'MBA' from superb universities. (sarcasm)
The reality is the shareholders want fast results, they also (in parallel) want increased performance. The fastest option for those two (short term) is to cut costs massively, reap the momentum win, then bail before it falls out of the stock market.
This is only going to get faster with "AI" reducing expected return timescales and increased returns due to 'cost savings'.
The economic market is terminal. It doesn't have the required access. The right will get more annoyed that they don't have their entitled easy life wealth and therefore double down causing a rush into a terminal economy.
If you want trade you need people to trade with. You need easy access to trade.
The new, American CEO is actually visiting this week and going to give a "rousing" speech infront of everyone, days before redundancies are finalised. There are going to be a bunch of people with nothing to lose which should make for some entertainment (hopefully).
The company is done really. I don't see how they can recover. They are losing more than they planned too as people are moving on after seeing their colleagues given the boot.
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Let us know if there are any edgy remarks or questions.
Never understood why preciding over a failed business doesn't make them immediately unhirable.
"Oh you ran your old company into the ground?! Great! Here's sixty trillion quid a year to run ours! "
The world is genuinely a crazy place, but CEO/executive pay is one of the craziest things.
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In that world, a lot of them are mates and are from silver spoon land. They cant really fail. You cant just apply for jobs at that level, you have to be invited in. I only know of one CEO who worked their way up.
You dig up their history and many just appear out of nowhere as an exec. Never really worked a real job, but are calling the shots which affect everyone.
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The usual, not what you know but who you know.
Yep, like politics. You cant just become a politician because you have good ideas and care about the country. You need money, contacts and influence first.
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Soldato
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Hmm let's see ... Alan Sugar, Bill Gates, Elon Musk, Peter Jones ... the list goes on and on.
They were also company owners or founders. They built companies.
They aren't going from one company to the next, leaving a trail of destruction behind them.
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Soldato
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I think you can. I expect there are many examples of this.
Soldato
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I'm sure there are loads of CEO's that have worked their way up. I can't think of a name offhand, but I've heard the story many times, e.g. started as the tea boy, now running the show.
Yea? Where?
There are a few greats from history, that's why we remember them, there are so few. But name one current politician who isn't in it for themselves.
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Soldato
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I knew you'd say that
Stella Creasy, and in particular her work tackling payday loan companies:
Stella Creasy - Wikipedia
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Soldato
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I can imagine that the way in which you wind down a failing company is very meaningful
Indeed, this can be more important than a success. Sometimes by chance you can be in the right place at the right time with the right product, even if that product is ****. When economies.and industries change is when the real work is required, and the outcome might not always be a successful pivot but managing a declining company. That inevitably involves layoffs, choosing where to focus investments, closing departments.
The same is true of Governments. When the economy is booming it is largely irrelevant what the government does as the economy will keep pushing and tax takes are high. When there is a recession, then the impacts are severe regardless of government decisions and hard decisions have to be made. The difference between good and bad governments is managing the bad times.
Yes there is a lot of value in someone coming in to manage the demise of a company in a way that doesn't expose people to too much liability
I would say that in C-level roles the real primary thing is your interpersonal skills, your ability to handle and manage very large teams, and any individual's ability to do that job effectively can be secondary to the wider performance of a business. E.g someone can be a very good C-level, in a failing company.
People don't get C-Level roles without having convinced a large group of people with huge amounts of vested interest that they are up to the job, and better than all the other candidates.
Soldato
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I'm approaching 2 yoe experience in tech, so not a huge amount. But anecdotally I had handful of recruiters here and there reaching out over weeks on linked in in feb/march, last few months now totally silent.... So this kind of tracks?UK firms hold off on hiring as job vacancies fall
The employment market is "weakening" official figures suggest, as cautious businesses delay recruitment.
And something we knew already..
That's precisely what happens.
What happens inside the company is that they will have their funding for 2024.. hire or have it blocked (for random reasons), then 2025 budget comes along and they restrict the number of headcount available, inside people have already started the job search with agencies (without real approval or mid-management approvals pending final approval).. then 2025 rolls over and everyone's recruitment gets blocked and they give everyone's budgets a haircut. Rather than tell the recruiters immediately, they will continue the search but magically find no acceptable candidates thus they don't get penalties from the recruiters.
If the budget cycle is Jan-to-Jan then what happens is the budgets go in by about September.. the get 'awarded in Jan.. then they get revised in Feb (due to overlooking priorities that need funding) and so everyone gets a haircut on that agreed amount. By march/june either that has rippled out to recruitment or internally impacting as reductions hit. All depends on the organisation size, complexity and the size of cost saving they need.
2025-2026 is a year of cost management and reductions. Especially those that have moved to cloud (getting a grip on costs) and those that are moving to AI (again getting a grip on spiralling costs).
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