• 4grams@lemmy.world
    link
    fedilink
    arrow-up
    12
    ·
    2 days ago

    Yeah, my company is chasing an IPO and so is slashing wages. People are leaving in droves, but since it makes number go up…

    No care whatsoever about post IPO. It’s going to be awful.

      • 4grams@lemmy.world
        link
        fedilink
        arrow-up
        2
        arrow-down
        1
        ·
        2 days ago

        I have an interview next week, I can’t risk it just yet. Plus it’s mostly internal speculation as nothing but the salary reductions have been announced.

      • Contramuffin@lemmy.world
        link
        fedilink
        arrow-up
        3
        ·
        2 days ago

        IPO: initial public offering. Means when a private business goes public (and is therefore able to be traded on the stock market). The CEO loses a lot of their stock during the process, so it’s in the CEO’s best interest to rugpull as hard as possible during an IPO so that they can cash out.

        • Tollana1234567@lemmy.today
          link
          fedilink
          arrow-up
          3
          ·
          2 days ago

          thats what spez did with REDDIT, he made hundreds of millions as soon IPO happened, now he needs to keep afloat long enough to be an entrenched propaganda machine, while still earning from advertisements, or funding by propaganda groups.