I had heard about the CloudFlare job cuts, what I had not realized is that after announcing them the company lost over 23% of its value in one sitting. I guess the trick of announcing job cuts to pump up your stock doesn't work anymore.
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You're cutting jobs?
That means you must be in real deep financial trouble!
A successful company would be adding jobs.
@SeanPLynch that's the logical conclusion, right?
@gabrielesvelto I'm still confused about why the layoff stock pump trick worked for everyone except cloudflare
@smn I don't know why it ever worked. In this case they even exceeded revenue expectations IIUC so they probably could have kept their mouths shut and it would have been fine
@gabrielesvelto so instead of getting a layoff payoff they got a reduction deduction?
@gabrielesvelto CloudFlare inventing the Dump and Dump
@gabrielesvelto 😈 Investors starting to realise that work needs to actually be *done* to ‘create value’?
"We successfully removed the tumour from the patient's brain"
"Oh? Really? So how come they're dead?"
"We wanted to be sure we got all of it so we cut off the entire head".
