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Some-Imagination9782 t1_j7dpaar wrote

16% percent increase in G&A expenses 🤯


davispw t1_j7g0qel wrote

This and related cost increases is the reason cited for layoffs—that costs were increasing faster than revenue.


Some-Imagination9782 t1_j7g9qm5 wrote

Yeah no wonder they had layoffs.


davispw t1_j7gbzzg wrote

I mean, this is the “wall street” answer. Could they have burned some of the $0.1T cash on hand to ride out the dip in the economy? Why did they hire so much, and continue to hire even after it was clear things were slowing down in 2022? Why wouldn’t a hiring freeze + attrition and internal transfers have been enough?