- cross-posted to:
- technology@beehaw.org
- technology@lemmy.ml
- cross-posted to:
- technology@beehaw.org
- technology@lemmy.ml
cross-posted from: https://lemmy.ca/post/5340114
ghostarchive
Original Discussion[1]San Francisco police told Polygon that officers responded to Unity’s San Francisco office “regarding a threats incident.” A “reporting party” told police that “an employee made a threat towards his employer using social media.” The employee that made the threat works in an office outside of California, according to the police statement.
A nice company has a great product and is well liked by its customers.
New executive manager comes in and thinks “how can I quickly get a huge bonus”? The answer always is implement new changes that will tuin the company in a year and a half, but that manager will have received his bonuses and is gone, leaving the company in ruins.
I can’t say 100% for sure that this is what happened, but whenever something like this happens, it’s just somebody deciding they want a quick buck
I dont understand how the board allows this behaviour, how do they not interween when an executive clearly is abusing the terms of the contract at the expense of the conpany
They know exactly what they’re doing.
They’ve been collecting metrics for months and plugging them into spreadsheets to figure out exactly how profitable this will be, just waiting for the right moment to pull the trigger.
They knew it would be incredibly unpopular. They knew it would likely kill the company one day.
But the spreadsheet doesn’t care about any of that so neither do they. They sold off stocks then made the announcement.
When the changes go live, they’ll squeeze everything they can out of successful projects, who will be left in a position of “losing 50% to Unity is better than losing 100% from pulling the game”.
They’ll stuff their pockets with us much of that money as they can and when the spreadsheet tells them to, they’ll pull the plug and strip the company for parts.
It was the best thing for them and that was all that mattered.
Not to mention money can be made litteraly betting on the stock price swinging from the bad news. Calls and puts plan far enough in advance and automate/preset triggers via broker agreements and can even avoid getting nailed for the obvious insider trading a lot of the time.
They also made the announcement right after an iPhone announcement. Unfortunately, the iPhone was completely underwhelming, so the news didn’t get buried like they probably expected.
The executive was hired by the board or with the board support (CEO usually)
They did exactly what they wanted
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The stakeholders want to cash out. A temporary bump to increase the company’s value with no regard for future prospects is great for them.
This scheme worked fine for thousands before him, so clearly board members are not an issue, presumably because they benefit from it.
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