81–90 of 593 posts
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And as far as I can tell that’s America only, nevermind Europe and Australia...
Australia apparently saw a minor rise in employment[0] for now. https://www.msn.com/en-us/finance/markets/australia-unexpect...
Expect those numbers to change. A lot.
I’ve been checking layoffs.fyi every day and it is incredibly bleak
Are they seriously listing down emails and mobile numbers of the people layed off? Is there no privacy concern here or am I missing the bigger picture?
CircleCI. Last week during covid crisis, all while announcing a $100m Series E round of financing, they let some employees go and did not offer any severance. Disorganized management, and with some teams, passive-aggressive management style. Would not recommend joining...
Guess they might just be using Covid as an excuse to get rid of some people? Wouldn't be ethical, but wouldn't be surprised if some companies took advantage of the situation.
I know for the fact that few US, Indian firms with offices in India are just using this as an excuse to trim their workforce, enforce paycuts (upto 50%), hold back increments for the year (and even next) and restructure salaries drastically - by moving almost 60% to vaiable pay(which typically never gets paid).
Such a list is live at https://careervscovid19.com/insights
Traditional BigCo ITeS/outsourcing shops are using this as a great opportunity to trim the flab in the middle (claiming as "a dire measure to sustain shareholder value") while it was always about . These are the same bunch in middle-management whom they would pamper regularly by giving quarterly/monthly awards (quarterly Gem, Spot awards, Player of the month, etc bullshit accolades)
And the markets also work that way. On a regular day, if there's firing, stocks of a BigCo go wonky sensing something is amiss. During a crisis, if they do not fire people by the thousands, markets deem it as lack of financial prudence and stocks go down.
Everything (and anything) in the name of profits and shareholder value. There's a saying dated thousands of years, goes like "vyaparam droha chintanam” meaning "Business is all about profits most often via undue advantages".
Related article - http://www.informaticsjournals.com/index.php/dbijb/article/d...
Dixa sacked 31 people (25% of staff). They closed a $36M series B in February.
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Australia apparently saw a minor rise in employment[0] for now. https://www.msn.com/en-us/finance/markets/australia-unexpect...
Our government basically hasn't shut down our economy. To quote, "all jobs are essential services".
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In UK employees are more likely to get furloughed, where they are paid 80% of their salary from the government, do not work but keep their job.
In the Netherlands similar. Government pays 90%, employer the other 10% and can't fire anyone.
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This is looking 2001-dot-com-crash bad, but much, much faster. It's worth remembering there are plenty of companies not laying people off, and "normal" will return eventually. That said, I was watching The Big Short yesterday, and a line that I had noted before haunted me even more: "For every 1% unemployment goes up [in the USA], 40,000 people die". Stay safe, stay positive.
> This is looking 2001-dot-com-crash bad, but much, much faster. Also probably much more transient, no? Is there a reason to think this trend would continue beyond say... six months? (or whenever quarantine measures are mostly relaxed).
I’ve been checking layoffs.fyi every day and it is incredibly bleak
Are they seriously listing down emails and mobile numbers of the people layed off? Is there no privacy concern here or am I missing the bigger picture?