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Buffer Layoffs

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Re: Buffer Layoffs

#91

Post by CodeWriter23 »

compiler-guy wrote: post #36

This may be a little cynical but: "With our culture of bringing our whole selves to work and seeing team as family, with shared values we live by,..." In the American business world, you are an employee until you aren't. Confusing being an employee with being "family" is a mistake, both for the company and the employee. When times get bad, companies do what it takes to survive, including throwing employees overboard.…

I think it would have been a better decision to lay off 3-4 more people and let the remaining employees keep their perks and annual salary increase. 3% doesn't keep up with inflation. Maybe make that 4-5 people and create an incentive fund for those who kick some ass and help the company fight its way back from its mistakes.

Re: Buffer Layoffs

#92

Post by tn13 »

compiler-guy wrote: post #36

This may be a little cynical but: "With our culture of bringing our whole selves to work and seeing team as family, with shared values we live by,..." In the American business world, you are an employee until you aren't. Confusing being an employee with being "family" is a mistake, both for the company and the employee. When times get bad, companies do what it takes to survive, including throwing employees overboard.…

> "With our culture of bringing our whole selves to work and seeing team as family, with shared values we live by,..."

This is total BS that employers might say to employees but either people will be foolish to believe so.

In India I worked for a large company that indeed operated like family. The company avoided layoffs by cutting salary of high performing employees to retain non-performers. Promotions were based only on number of years of service and not ability etc. But that is why I left for USA.

Employers should not feel ashamed to lay off people. It is not the case that people cant find other jobs. In fact being honest and transparent about it can help people find other better jobs. Similarly employees must leave the company at the first sight of the distress and go for greener pastures.

Re: Buffer Layoffs

#93

Post by beambot »

smuss77 wrote: post #57

I really like the transparency and accountability. Two questions: Why are the two loans necessary? And, how does a loan get counted as savings? > Leo and I are committing $100k each in the form of a loan at the lowest possible interest rate, with repayment only when Buffer reaches a healthy financial position. Savings: $200,000.

It shows founder commitment -- a willingness to put their own personal savings at risk to help the company survive.

It's "savings" in the penny-saved, penny-earned sense.

Re: Buffer Layoffs

#95

Post by carc »

kybernetikos wrote: post #89
forkandwait wrote: post #59

Earlier quoted context omitted.

My rule is this : if I have equity then I am family. No equity, I am just an employee.

Some startups take your equity off you if you leave.

They can't just take away equity that's vested to you. And any equity that hasn't vested isn't yours.

Re: Buffer Layoffs

#96

Post by Animats »

minimaxir wrote: post #2

While Buffer's transparency is incredible, the financial calculations in the article fail to account for the possibility of an employee exodus domino effect, especially after both knowing the financial state of the company, and relevant perks being cut.

Right. In general, if you have a layoff and the job market isn't extremely tight, you will also lose some other employees you wanted to keep. Especially the ones who see that top management's plans aren't working and it's time to jump ship.

Re: Buffer Layoffs

#98

Post by rdoherty »

compiler-guy wrote: post #36

This may be a little cynical but: "With our culture of bringing our whole selves to work and seeing team as family, with shared values we live by,..." In the American business world, you are an employee until you aren't. Confusing being an employee with being "family" is a mistake, both for the company and the employee. When times get bad, companies do what it takes to survive, including throwing employees overboard.…

I agree 100%. I've worked for multiple companies that say "we're a family", then lay off people with no warning or remorse. Businesses are not families.

Re: Buffer Layoffs

#99

Post by segmondy »

compiler-guy wrote: post #36

This may be a little cynical but: "With our culture of bringing our whole selves to work and seeing team as family, with shared values we live by,..." In the American business world, you are an employee until you aren't. Confusing being an employee with being "family" is a mistake, both for the company and the employee. When times get bad, companies do what it takes to survive, including throwing employees overboard.…

Companies want you to be family so you can give more. In a family system, the family tends to fend and tolerate dysfunctional members. Usually it's the company that is the black ship and everyone tolerates and busts their ass carrying the company. Once things get tough, the family analogy gets thrown out the window and it's all business.

Re: Buffer Layoffs

#100

Post by kybernetikos »

carc wrote: post #95
kybernetikos wrote: post #89

Earlier quoted context omitted.

Some startups take your equity off you if you leave.

They can't just take away equity that's vested to you. And any equity that hasn't vested isn't yours.

The shares are yours, but the company reserves the right to buy them back at the lower of the current price and price you paid for them, which it does when you leave.

http://stockoptioncounsel.com/blog/standards-ownership-canth...

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