EPTOn March 01 2012 13:02 Scarecrow wrote:
The company's wallowing in cash and they fire 600 employees. Typical -.-
The company's wallowing in cash and they fire 600 employees. Typical -.-
Boss needs a new yacht. They don't pay for themselves!
Blizzard Announces Staff Reductions - Page 11
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Ownos
United States2147 Posts
Boss needs a new yacht. They don't pay for themselves! | ||
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cLutZ
United States19574 Posts
On March 01 2012 13:05 Ownos wrote: Boss needs a new yacht. They don't pay for themselves! You guys do realize that if officers and members of the board don't look after the financial interests of the company they are violating their fiduciary duties, right? | ||
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xertion
Sweden52 Posts
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Sub40APM
6336 Posts
On March 01 2012 13:39 cLutZ wrote: You guys do realize that if officers and members of the board don't look after the financial interests of the company they are violating their fiduciary duties, right? Yes, but that standard is so broad that unless the company does something egregious they do not in fact violate those duties. And in fact if they hired some consultant who said "fire 600 people, keep more money 'to reward high flyers'" and the company points to that it is a o k. high flies =C level employees who 'add value' | ||
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puppykiller
United States3137 Posts
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klaxen
United States361 Posts
On March 01 2012 13:02 Scarecrow wrote: The company's wallowing in cash and they fire 600 employees. Typical -.- Yeah, they should continue to pay employees who have nothing to do for 4 hours a day all for the sake of satisfying your wierd notion of how businesses should be run. | ||
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blizzind
United States642 Posts
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shockwave1986
United Kingdom5 Posts
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AssyrianKing
Australia2129 Posts
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RaiKageRyu
Canada4773 Posts
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cLutZ
United States19574 Posts
On March 01 2012 15:19 Sub40APM wrote: Yes, but that standard is so broad that unless the company does something egregious they do not in fact violate those duties. And in fact if they hired some consultant who said "fire 600 people, keep more money 'to reward high flyers'" and the company points to that it is a o k. high flies =C level employees who 'add value' Yea, you are clearly conflating moral and legal obligations. While the legal bar is quite low, they still should strive to do what is best for their shareholders. | ||
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Belial88
United States5217 Posts
What does this mean? Why should I care? Every company has internal stuff going on. How does this affect me? Why is this public, and why is Blizz making such a huge annoucement of it? Would this have been a huge scandal if they never publicly addressed it or something? I'm a bit confused here. | ||
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BluePanther
United States2776 Posts
On March 01 2012 13:39 cLutZ wrote: You guys do realize that if officers and members of the board don't look after the financial interests of the company they are violating their fiduciary duties, right? Look up the "Business Judgment Rule" and you'll realize why that's a terrible argument. And yes, I actually do know corporate law. Short of murder, dereliction of duty, or egregious self-dealing, the courts will uphold nearly any action by a board. | ||
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Sub40APM
6336 Posts
On March 01 2012 15:53 cLutZ wrote: Yea, you are clearly conflating moral and legal obligations. While the legal bar is quite low, they still should strive to do what is best for their shareholders. ...i guess...of course unless they announce a dividend that returns the money that went to those 600 people they arent doing anything for their shareholders... | ||
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Rimstalker
Germany734 Posts
On March 01 2012 10:11 Asol wrote: You're completely right^ To be fair though, you're being brainwashed here bro. You talk about money as if it was money that defines a humans worth. That's ridiculous and prepostrous to say. The CEO is more or less the single most important person in a company. I don't think that you actually personally know any CEOs or leaders on bigger companies, they've got a fuckton of shit they need to take care of that the "average" customer supporter guy doesn't have to deal with. So ofcourse he's going to be paid a lot more. However have you even SEEN blizzard raize the CEOs bonus with ANYTHING? NOPE you haven't. So why the hell do you jump on someone who so far hasn't actually done anything of what you've mentioned? You're just badmouthing one of the _best_ companies who have made some of the _best_ games in history. For fucks sake, the GM who got quoted said that it was a pleasure working there etc. Doesn't seem like he was treated badly or anything. That actually means that the CEO is doing a pretty damn good job. do YOU know any CEOs? I know one pretty well, he used to be CEO of a company with 1500 people, now he is my CEO in a smaller company. This guy is utterly clueless, if he'd drop dead, the impact on our company would be negligible, possibly even beneficial. Before that, I was working at Deloitte, the higher up people were completely removed from reality, some of them even malevolent, crushing employees who dared not cower before their might. Company before that, the owner was friendly, but borderline alcoholic and no idea what was going in on the company, the board consisted - among others - of his personal secretary who was a full alcoholic and constantly interfering in peoples' private lives and a sleazy guy who used to be a fridge salesman. /end of rant. If needed, I can start with the CEOs of other people I know | ||
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Endymion
United States3701 Posts
On March 01 2012 16:00 Sub40APM wrote: ...i guess...of course unless they announce a dividend that returns the money that went to those 600 people they arent doing anything for their shareholders... if they pay out a dividend that large then i certainly wish i owned some of their shares edit ~ as for the CEOs do nothing argument, they do a lot or else the shareholders wouldn't compensate them for it. it takes a lot of time and stress to run one of these massive companies | ||
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papaz
Sweden4149 Posts
On March 01 2012 13:47 xertion wrote: Great news, very good for the investors. It's hardly "good". I think the investors would prefer to hear: Blizzard is expanding like hell and need to hire 600 more because the company can't keep up with the demand. There are so many people in this thread making awful comments. Sure, it's business, this is how business works etc. But show some freaking decency when 600 people lost their jobs. If you were one of the people losing a job and not having an income you hardly want to hear "hey, buddy. it's business, that's life. suck it up" even if that is the truth. I can't believe this thread isn't being moderated more. If someone would have passed away and people would write comments such as "oh, well who cares he/she died. that's life. move along" bans would be handed out left and right. But when people lose jobs it's ok to say things like "well, this is business. This is in fact good news for investors, share holders. Mike should even get a raise for making good calls like this". | ||
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papaz
Sweden4149 Posts
On March 01 2012 15:54 Belial88 wrote: So... What does this mean? Why should I care? Every company has internal stuff going on. How does this affect me? Why is this public, and why is Blizz making such a huge annoucement of it? Would this have been a huge scandal if they never publicly addressed it or something? I'm a bit confused here. The world isn't centered around you. 600 peple out of roughly 4500 lost their jobs at one of the most successful game companies in the world. The game company which more or less is the reason teamliquid even exists and you are here posting. So don't be confused. It's news and some of us are interested in knowing how the company creating the games we love to play do. | ||
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ghosthunter
United States414 Posts
On March 01 2012 16:19 papaz wrote: It's hardly "good". I think the investors would prefer to hear: Blizzard is expanding like hell and need to hire 600 more because the company can't keep up with the demand. There are so many people in this thread making awful comments. Sure, it's business, this is how business works etc. But show some freaking decency when 600 people lost their jobs. If you were one of the people losing a job and not having an income you hardly want to hear "hey, buddy. it's business, that's life. suck it up" even if that is the truth. I can't believe this thread isn't being moderated more. If someone would have passed away and people would write comments such as "oh, well who cares he/she died. that's life. move along" bans would be handed out left and right. But when people lose jobs it's ok to say things like "well, this is business. This is in fact good news for investors, share holders. Mike should even get a raise for making good calls like this". You can be a humanist or an economist about it. TeamLiquid news discussions rarely lean towards the former when the alternative is an available option. Active discussion is better than emotional bandwagoning any day of the week. Please do not discredit the opinions of those in this thread begging for "moderation" because they do not agree with your own. With the exception of loltrolls, these threads make progress from conversation (If they really do anything at all.) As has been reiterated: Elimination of redundant positions is a businesses job. They are not a charity. Those in redundant positions can understand that, regardless of if they agree with that position. If Mike Morhaime is correct in stating they got good severance packages, then life moves on as happily as it can Turnover happens all the time across the marketplace -- it's the fundamental of how our system works, and it means there's positions out there as well. | ||
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Wildmoon
Thailand4189 Posts
On March 01 2012 07:51 lpstroggoz wrote: blizzards golden years were over about 5 years ago. they have lost almost all of their good employees. matt ueleman, the people who are now at arena net that made blizzard. i'm just wondering how long they can keep going before they wane out of existence. they will last a while longer i guess considering the standards of the gaming industry these days. lol wut? Matt Uelmen is just one of blizzard music composer. People who really made Blizzard what it is today are Rob Pardo,Chris Metzen,Samwise Didier,Mike Morhaime,Frank Pearce,Allen Adham. All of these people are still at Blizzard except Allen Adham. | ||
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