Technology

59569 readers

3431 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

297

Wayfair lays off 13% of its workforce weeks after telling employees to work harder (www.cnn.com)

submitted 10 months ago by L4s@lemmy.world to c/technology@lemmy.world

31 comments fedilink hide all child comments

Wayfair lays off 13% of its workforce weeks after telling employees to work harder::Wayfair is laying off 1,650 employees, amounting to 13% of its global workforce, as the online home goods retailer struggled to rebound following its success amid pandemic lockdowns.

you are viewing a single comment's thread
view the rest of the comments

[–] GiddyGap@lemm.ee 44 points 10 months ago (8 children)

Shares of Wayfair (W) soared nearly 16% in premarket trading.

Close call! I thought the poor shareholders would be affected. All is good in the world again.

[+] sunbeam60@lemmy.one -27 points 10 months ago (7 children)

You do know a majority of investments are people’s retirement savings? Pension providers compete with each other to offer the best returns, moving to the shares that offer the best outlook for dividends and growth; we are the snake eating its own tail. If you want to one day save up for retirement, you are are a part of this.

[–] JoBo@feddit.uk 1 points 10 months ago (1 children)

And almost all of that private pension wealth is held by the richest 10%, barely any by the poorest 50%.

Stop mugging yourself off.

[–] sunbeam60@lemmy.one 1 points 10 months ago

It’s sad that the poorer part of our population can’t save for retirement. I wish it was different.

But I think you’re implying that because wealthy people can save more, it’s ok if wealthy people lose their savings. If that is truly the case, I don’t think we will gain much from a debate on that topic - and I actually don’t think it changes my point above anyway.

I’m not 100% ok what you mean when you suggest I stop mugging myself off. Are you implying that I’m naive about who holds pensions? I’m not - it’s obviously the more well off that can afford to save more.

But I would caution a little bit against taking an absolutist view on this. Someone on minimum wage saving 10% of their income into a retirement fund will inevitably end up with a smaller position (in absolute terms) than someone on a six figure salary. In relative terms they might be in very similar positions though.

load more comments (5 replies)