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Buffer Layoffs

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Re: Buffer Layoffs

#271

Post by falsestprophet »

jes wrote: post #160
terrywilcox wrote: post #108

Earlier quoted context omitted.

I can't explain why you're wrong about kids and self-interest. It's something you have to experience for yourself. You may have an epiphany about the 50th time you yell "watch out for that car". I swear she _wants_ me to have a heart attack.

I do have some experience with parenting. I have three children, in their 20s and 30s at this time. All are doing very well, and we are all on good terms with each other. With respect, I think our different views may be the result of a different understanding of what it means to truly be self-interested. In my view, it's nothing like being a greedy bastard who only cares about sacrificing other people to himself, bei…

"Good terms" is setting a pretty low bar for family.

Re: Buffer Layoffs

#272

Post by btmorex »

tempestn wrote: post #249
cyberpanther wrote: post #214

Earlier quoted context omitted.

As mentioned below, Netflix has the philosophy "we're a professional sports team". Yet they don't pay people millions of dollars like an athlete. If you really want to be cut throat, great, pay people like an athlete then. Otherwise quit the BS.

They pay market rates, just like sports teams do.

Sports teams don't actually pay market rates. Every sport that I can think of limits pay in one way or another especially for stars, ostensibly so that small market teams can compete with big market teams.

Re: Buffer Layoffs

#273

Post by bogomipz »

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.…

Very good point - you are only "family" during the good times and so not really family at all. I don't think that "being an employee until you aren't" is an American-specific thing but perhaps the selective conflating of "family" with work colleagues is.

Re: Buffer Layoffs

#274

Post by falsestprophet »

tokensimian wrote: post #211
jpna66dd wrote: post #152

Earlier quoted context omitted.

I am trying to learn about the business habits in the Valley. I wish someone could inform me. To answer your question, obviously I am not from the valley, i run my own business, it is quite profitable, i don't do retreats, and i fly quite a bit, always coach. So if i ever organised a retreat, i would expect everyone to fly coach. Hence my question.

FWIW, the US Government's regulations for civil service workers (civilians working for the federal gov't) are pretty strict, and are often used as a basis for private companies. (EG, mileage reimbursement is usually a rate set by the feds.) Their policy is business class for international flights over 8 hours. Given that, I think it would be seen as common/acceptable to mimic.

That is surprising and disappointing.

I know we didn't send our guys over to Iraq and Afghanistan in business class. It's shameful that a rando in USAID or something would be afforded better accommodations for a conference in Tokyo.

Re: Buffer Layoffs

#275

Post by alexbrower »

"Although I know rationally that the size of the team is not something to celebrate, I feel that I slipped into that harmful mindset quite a bit over the last year. Not everyone is familiar with growth metrics like monthly recurring revenue, but team size is easy to understand. Sometimes it impressed people when I told them how big the company was, and I was proud to share it."

Correct. Headcount is a figure that represents a company's means. If you're tracking it as an end result, you end up having to make hard decisions or someone makes them for you.

The transparency is commendable. A couple other observations:

- Affected employees had an average salary of $58.5k (assuming your metrics is net of benefits and payroll tax). If this is annualized, it appears you let go of non-engineers. Set goals and performance expectations for those who remain, especially those who build your product.

- Stop publicly promising salary increases altogether. Promote people based on their ability, not an artificial loyalty policy. Some people deserve 10%+ raises, some you'll find are overpaid. Use a basic job ladder and put the burden on managers to justify comp changes.

- If the policy of granting vacation bonuses was for recruiting purposes, you've successfully attracted people who want to be paid not to work. Again, implement a corporate bonus program and set goals for staff.

Best of luck.

Re: Buffer Layoffs

#276

Post by AndrewKemendo »

They laid of 10 people, 11% of their workforce - which means they had ~90 employees.

Crunchbase tells me they have had almost 4M in investment since 2011 and Baremetrics puts them at 45M in lifetime revenues. So, call it a round $50M in capital.

50M/90 employees all in is around $135k/employee each year for the last two years. Subtract all the perks and those numbers get hard fast.

Just goes to show that, even with a lot of cash, a lot of people cost a lot. It ends up doing a disservice to each existing employee, with each new person your company brings on, if you can't scale revenue with the pace of hiring.

Re: Buffer Layoffs

#277

Post by jzwinck »

btmorex wrote: post #272
tempestn wrote: post #249

Earlier quoted context omitted.

They pay market rates, just like sports teams do.

Sports teams don't actually pay market rates. Every sport that I can think of limits pay in one way or another especially for stars, ostensibly so that small market teams can compete with big market teams.

In sailing you can usually pay crew whatever you like. Here's one example: http://www.wsj.com/articles/a-sailors-salary-300-000-if-he-w...

There probably aren't any $10MM/year sailors, but we can infer that $1-2MM/year should be possible for a few.

Re: Buffer Layoffs

#278

Post by icedchai »

jsprogrammer wrote: post #221
bduerst wrote: post #201

Earlier quoted context omitted.

In take-home income right? They still have sizeable ownership of the company and vesting.

Yes, they are willing to forego significant salary because they will control most of the profits.

Profits? You must be joking.

Re: Buffer Layoffs

#279

Post by brianwawok »

hammock wrote: post #163
jpna66dd wrote: post #88

Earlier quoted context omitted.

Are you saying it is customary to fly people business class in the Valley, rather than coach? Especially for a team retreat?

I cannot speak for Valley customs. But all of the (non-Valley) companies I'm familiar with extend business class to employees for international travel as a matter of policy.

I worked at 1 company that did business class IF your flight was over 10h or something, but in 2008 that got revoked. Since then not seen any business class for mere devs.

Re: Buffer Layoffs

#280

Post by nostrebored »

falsestprophet wrote: post #271
jes wrote: post #160

Earlier quoted context omitted.

I do have some experience with parenting. I have three children, in their 20s and 30s at this time. All are doing very well, and we are all on good terms with each other. With respect, I think our different views may be the result of a different understanding of what it means to truly be self-interested. In my view, it's nothing like being a greedy bastard who only cares about sacrificing other people to himself, bei…

"Good terms" is setting a pretty low bar for family.

Is it, if the GP instilled the same values in his children? I hope that my children will hold me accountable for my actions and vice versa.
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