It's not wasted money. They hired people at peak, and fired them when peak reverted. If they'd ceded market share to competitors who were aggressive when peaking then these CEOs should have been fired.
> They hired people at peak, and fired them when peak reverted
They fired people because they're getting pushed by Investors asking for better Return via stock price just keep that in mind.
META culled 11k and stated that they save $1Bn last year. Fast forward to last week: they somehow have $40Bn to buyback their stock, rewarding investors for a decent gain: 44% within a month. There's a good possibility that other companies will follow suite and execute stock buyback.
Stock Based Compensation just got wiped out from the book as well: typical RSU is 4 years, if some of these folks are on their first and second year (or have refresher), those future expenses are gone too, back to the pocket of Corps.
Salesforce is surrounded by vultures (activist investor) right now.
Juuust... keep that in mind: the mob wants their money back and they set aim at the CEOs.
