Ancestors

Toot

Written by Jan on 2024-10-30 at 07:43

The biggest German car manufacturer wants to cut 10s of thousands of jobs and at the same time just reported a quarterly profit of 1.6 billion (!!!) Euros. Please, someone explain this to me.

Oh and they just recently paid billions in dividends to investors.

=> More informations about this toot | More toots from janmon@social.lol

Descendants

Written by Andy Carolan :prami: on 2024-10-30 at 07:44

@janmon greed

=> More informations about this toot | More toots from andycarolan@social.lol

Written by Yves Van Goethem :firefox: on 2024-10-30 at 07:52

@janmon Capitalism doing what capitalism does

=> More informations about this toot | More toots from yvg@indieweb.social

Written by Virginie on 2024-10-30 at 07:57

@yvg @janmon capitalism + greed + 0 shame + 0 decency, the maths are good ;)

=> More informations about this toot | More toots from Maker@woods.secretbearsociety.org

Written by Jan on 2024-10-30 at 08:13

@Maker @yvg + 0 personal liability for decision makers ;)

=> More informations about this toot | More toots from janmon@social.lol

Written by Yves Van Goethem :firefox: on 2024-10-30 at 08:23

@janmon @Maker That's part of capitalism :b

=> More informations about this toot | More toots from yvg@indieweb.social

Written by innerand on 2024-10-30 at 08:01

@janmon Makes completely sense as soon as you are realizing that the purpose of our economy and its companies is to generate money for the owners/shareholders/investors/capitalists. That's what it is all about.

=> More informations about this toot | More toots from innerand@23.social

Written by Evan Light on 2024-10-30 at 08:09

@janmon @janl "wants to"? Honest question: in Germany, do they need permission? Here in the US, companies "lay off" as many as often as they like unless they are unionized—then it's complicated.

=> More informations about this toot | More toots from elight@tenforward.social

Written by Jan on 2024-10-30 at 08:11

@elight @janl Yep the process is different here in Germany. At that car manufacturer they have a pretty strong works council and a good union representation.

=> More informations about this toot | More toots from janmon@social.lol

Written by Evan Light on 2024-10-30 at 08:13

@janmon @janl It's a shame that the US has been so supportive of employer's rights over the individual. Yet here we are.

=> More informations about this toot | More toots from elight@tenforward.social

Written by Jan on 2024-10-30 at 08:14

@elight @janl Agreed !

=> More informations about this toot | More toots from janmon@social.lol

Written by Rocky Jaiswal 🇪🇺🕊️ on 2024-10-30 at 08:33

@janmon The logic they give is "number is not going up" .. so they made 2 billion last year, and this year only 1.6 billion (wow! so sad) .. so they need to "fix things" .. coz number always has to go up infinitely and forever (which btw defies all logic)

=> More informations about this toot | More toots from rockyj@dizl.de

Written by Pelle Wessman on 2024-10-30 at 09:26

@janmon @deadparrot It’s so weird when one hear news about some companies being in crisis and needing to optimize their costs to improve profitability – yet turns out to be very profitable.

And meanwhile there are startups that are reported as being very successful, yet are making very big losses.

The one perspective where both can be true is when looking at future profitability – losses now can be offset by future profits and future losses can be offset by profits today.

=> More informations about this toot | More toots from voxpelli@mastodon.social

Written by Henry on 2024-10-30 at 09:54

@janmon Especially when you consider the additional subventions they get via the expensive tax advantages Diesel and company cars get in Germany. Oh but we have to raise the price of public transport - otherwise we can't afford these car based tax breaks 😡

=> More informations about this toot | More toots from hl@social.lol

Written by Nils Kassube on 2024-10-30 at 13:53

@janmon Because you size your workforce to the expected future profitability. VW is in the dire state it is currently in, because they‘ve been run like a state owned company. The union and the state of Lower Saxony are deeply involved in all matters of decision making to the detriment of the future of the company. Have a look at Detroit‘s history when the big carmakers were ruined. They stopped being competitive.

=> More informations about this toot | More toots from nilskassube@mastodon.social

Written by Andreas Fink on 2024-11-01 at 20:27

@janmon @niklaskorz the answer is simple: Greed

=> More informations about this toot | More toots from afink@mastodon.sl