John Deere as corporate punching bag

[dmclone]

Back to John Deere layoffs. Reddit is saying 900+

 

[MugNight]

Color me shocked that a thread about corporate greed and laid off neighbors shift into a series of lectures on regular people’s eating habits and personal finance decisions.

 

[dmclone]

Some people from Global IT have said their whole team has been shut down.

 

[bos]

Color me shocked that a thread about corporate greed and laid off neighbors shift into a series of lectures on regular people’s eating habits and personal finance decisions.

I dont think anyone so far has lectured. Its our own basic observance in our own lives. Its been mostly on topic anyway with the news we have available, but as conversation tends to go, it changes lanes at times.

 

[dmclone]

Dumb question time......Where is the union at this point? How about a strike?

 

[isufbcurt]

I love my new Bad Boy Mower!!

 

[BCClone]

Dumb question time......Where is the union at this point? How about a strike?

Think most of these are salary people so no Union I believe.

 

[AuH2O]

I know CEOs get paid a lot, but they are just wired differently. The high up executives I have seen juggle so many things at once and I have no idea how they can keep it all straight. They also are always on the clock. Many of them are working constantly through family functions and I'm sure the stress is super high. Not arguing that they are not overpaid, but I'm sure if the roles were reversed, many people would not be able to do their job, and the same goes the other way. I also feel that many professional athletes and celebrities are overpaid, but not as many are saying it is greed and say they should get paid if they can. I don't see people saying Lebron or Mahomes should take a huge paycut because they are greedy. Just throwing some thoughts out there.

It isn't that CEOs shouldn't be paid a lot. They should for the reasons you suggest. The problem is these companies think that they need to be hiring these old guys that are already at those levels for the argument of competing to get the best CEO. The reality is they are hiring people at a level where if they completely fail it doesn't really matter to that CEO because they are set for life almost immediately on day 1, if they weren't already there. You could grab a director of operations or similar that is motivated AF, knows the business, and would do a great job for a fraction of the cost. The reason companies don't do this is because all these boards are loaded with people in the club, and they want those crazy salaries justified. They want to keep that market inflated.

 

[dmclone]

I can't remember a time where I've seen more outsourcing during a pretty stable economy.

 

[Rabbuk]

Color me shocked that a thread about corporate greed and laid off neighbors shift into a series of lectures on regular people’s eating habits and personal finance decisions.

Have you considered budgeting your way out of forced unemployment?

 

[BWRhasnoAC]

Have you considered budgeting your way out of forced unemployment?

Just stop being poor.

 

[Turn2]

If these uber talented high dollar CEOs are so hard to come by, why do our business models put so much responsibility in just two hands?

 

[BWRhasnoAC]

If these uber talented high dollar CEOs are so hard to come by, why do our business models put so much responsibility in just two hands?

Easier to control one person.

 

[flycy]

My company hired 3 JD employees who lost their jobs during a prior major layoff (2016ish). I kid you not, ALL 3 went back within 18 months. I never got the mindset that you'd go back to a company who let you go even if it was purely business reasons for the layoff.

Probably because they pay more. Haven't been in the Waterloo area for over 30 years, but JD employees were definitely the highest paid mfg jobs by far.

 

[MugNight]

Easier to control one person.

Plus they have boards of directors with peer execs as a check and balance

 

[JEFF420]

Some people from Global IT have said their whole team has been shut down.

oh ya. India IT coming to farmers across america./... or to the tech across america. either way. our IT is through a contractor in India. IT SUCKS

 

[CYphyllis]

Dumb question time......Where is the union at this point? How about a strike?

Their previous strike is a big reason why JD is laying off as many people as they are.

 

[cowgirl836]

They made 10 BILLION dollars in profit last year and spent 7 BILLION on stock buybacks (which were "illegal" until 1982) because they artificially manipulate stock price. Back when buybacks were "illegal" and corporate tax rates weren't cut to nothing, companies were forced to either pay their share of taxes or use the money for employees, facilities, expansion, innovation, etc. The net result of that was increased wages, better benefits and better working conditions.

All of that money is now sucked from wages and given to shareholders in the name of the all holy quarterly profit. If you're lucky enough to still be in that middle-upper class where you can max out 401ks and have other holdings you're probably doing very well. Just know it's ******* everyone below you.

It's ridiculous to talk about individual people's Starbucks purchase or how to eat more chicken when you've got these corps making billions. The problem isn't avocado toast here.

 

[swiacy]

JD R&D’d this situation, it was inevitable and low commodity prices were the trigger. The machinery is designed to be “efficient” which means more acres per hour. 2 problems: this eliminates the need for machinery that covered less acres per hour and JD fell in love with tech and loaded up which added to the price without ROI to the buyer.

 

[flycy]

Only tangentially related, but one thing I'll point out is if your job can be done from home, then it can be done from India.