https://www.wsj.com/lifestyle/careers/layoff-business-strategy-reduce-staff-11796d66
CEOs Are Shrinking Their Workforces—and They Couldn’t Be Prouder
Bosses aren’t just unapologetic about staff cuts. Many are touting shrinking head counts as accomplishments in the AI era.
The careful, coded corporate language executives once used in describing staff cuts is giving way to blunt boasts about ever-shrinking workforces. Gone are the days when trimming head count signaled retrenchment or trouble. Bosses are showing off to Wall Street that they are embracing artificial intelligence and serious about becoming lean.
After all, it is no easy feat to cut head count for 20 consecutive quarters, an accomplishment Wells Fargo’s chief executive officer touted this month. The bank is using attrition “as our friend,” Charlie Scharf said on the bank’s quarterly earnings call as he told investors that its head count had fallen every quarter over the past five years—by a total of 23% over the period.
Warren Buffett made a boatload of cash on his BYD, which he has dumped.
Now Uncle Warren is heavily invested in AI.
AMZN,KO, & AAPL.