how would you like the next CEO to handle it, for reference?
If you knock a girl up and you "take responsibility" it means you getting married.
If you are in a car wreck and you "take responsibility" it means you are paying for repairs.
If you commit a crime and "take responsibility" you are going to jail.
So if a CEO is "taking responsibility" it should be something like that second case, dollars from their own pocket to the effected party.
I'd love to hear you explain how I can get out of paying my car insurance of alimony though with this line of reasoning, though. Could be useful one day.
Much like employment, each party can cancel. You didn't sign a lifelong contract for insurance.
If I'm on-call, I'm responsible to carry my laptop with me and be available immediately to fix critical issues. I don't just say "I take responsibility of being on-call", and the leave my laptop at home, get drunk and fall asleep in a bar for the weekend. That's called being irresponsible.
So this CEO is saying, "if I do my job poorly I understand I could get fired."
But, did he/she do their job poorly? That's the thing I can't figure out quite yet. It seems it was bad for the laid off people, but maybe not for Dropbox?
If I got a million dollar parachute when I do my job badly, I would love to "take responsibility" as well. Fuck the people, I get paid either way here.
> But, did he/she do their job poorly?
in a fiduciary sence short term, no. So shareholders are happy since that's all their care about.
Long term, who knows? I don't see them closing the gap with Google nor Microsoft so this could just accelerate that downfall.
in a spirit of, as some politician say, "creating jobs and stimulating the economy", absolutely awfully. We have 500 more workers out on an awful job market and it's not because DBX wasn't profitable. They simply dropped workers to prepare for a bad time that the US economy doesn't want to admit out loud.
I guess the government for not regulating this kind of thing to begin with. but that's a bit out of DBX's purview.
There needs to be more explanation on where the CEO screwed up that badly and the consequences for the management.
Both options should directly imply that the CEO should earn less. Either you're running a smaller, simpler company, or you sucked at your job.
Eat the loss.
They reached market saturation, which isn't the same thing as failing.
then they probably should
not saying I should go work for McKinsey, just noticing that unnecessary payments are likely happening. companies don't exist to employ people. employees exist to help companies. just make everyone a decent shareholder with decent liquidity and move on when the employee isn't necessary.
Companies in society exist to serve the customer, provide labor opportunities, and overall stimulate the economy (all of which is needed to make money).
This mentality above is exactly why the latter half of Millensials and Gen Z were demystified by the labor market and simply don't take the kind of "loyalty" narrative of the older generations. You can't talk family, layoff "family" every 2 years regardless of talent and pretend that "hard workers get rewarded". So you'll get the bare minimum, you will get no overtime when you request it (especially if you aren't paying 1.5x), and you probably won't even get the long dead 2 weeks notice when I move on.
You can't expect much more "help" when you can't give the basic modicrum of respect to your help.
> just make everyone a decent shareholder with decent liquidity and move on when the employee isn't necessary.
most jobs don't have RSUs. Not even in tech.
If only we had the equivalent on the other side to balance the equation. Some kind of a group of individual employees, who work together to counter wage suppression efforts.
That's really the main saving grace for this industry; the scalability that a few employees can still provide a solution that makes corporations with hundreds of thousands of workers sweat. That's why they surged salaries so aggressively in the 00's and half the '10's
That's also the reason why unionization will be a hard argument among tech workers. Slowly starting to happen in the games industry, so that at least confirms there IS a breaking point somewhere for that to happen.
None come to my mind, do you have any examples?
Well run companies laying off 20% of the global staff a year after laying off 20% of the global staff?
Saying e.g. what is the impact on the situation for those responsible might be nice - no bonuses for next year? A plan in place so that this doesn't happen again? Stepping down as a CEO?
I mean, if I take responsibility for e.g. wrong tax filing, I pay the fine penalty, and/or go to jail.
Saying "I take responsibility" some kind of failure while having no consequences for said failure is not taking responsibility.