Spoilt worker, high wage demands and everything else coming to a spectacular end

[SOL]

BuzzFeed workers slam company as it goes public on Nasdaq

Digital media company BuzzFeed (BZFD) went public on Monday after a SPAC merger that valued the firm at $1.5 billion, setting it apart from peers like Vox and Vice that remain private.

But some employees aren’t celebrating. The milestone comes days after dozens of workers at the outlet’s news division, which won a Pulitzer Prize this year, walked off the job in protest of a move they say enriches executives while the company refuses a union contract that would raise salaries for employees and bolster worker protections.

BuzzFeed strongly contests that characterization, saying the move to go public will benefit management and workers alike, and that the company is eager to reach a deal with the unionized workers.

The clash marks a flashpoint of worker unrest in the digital media sector, a rare source of union growth in recent years that could draw heightened attention as online outlets begin turning to public markets.

“We are the reason they have a product to take public,” says Addy Baird, a BuzzFeed reporter and chair of the BuzzFeedNews Union, which formed in 2019 and has been bargaining with the company for a contract since that year. “We can’t wait anymore.”

All 61 members of the BuzzFeedNews Union walked off the job last Thursday, the same day the company’s shareholders voted in favor of the plan to take the company public, Baird said. The issues of primary concern for union employees include salary increases, the ability to perform freelance work and post content outside BuzzFeed channels, and the use of traffic metrics in employee evaluations. The union also accused BuzzFeed of needlessly delaying negotiations.

https://finance.yahoo.com/news/buzz-fee ... 52771.html


Whether the workers are right or wrong, in general, they are expecting too much so according to the law of balancing, the equation will balance and that means most workers will be dumped. AI and robotics are advancing at an explosive phase. Add in the fact that the next correction will push a lot of baby boomers (very talented) back into the workforce, then the average worker of today is cannon fodder.

[Triplethought]

I just authorized 6% raises across the board for my tech workers and accounting department to keep pace with inflation. It's going to take a lot of money out of our profits so we'll have to raise prices on service hours from$160 to $180 per hour.