Layoffs at Canadian tech startups

Layoffs at Canadian tech startups
theglobeandmail.com

> But implicit in that risk, Mr. Nayyar points out, is a lot of downside. Many executives thought, “but didn’t say out loud, that if demand disappeared or changed course – sometimes even slightly changed course – those people we brought on, it might not make sense to have them around any more. … You’re just a number on the page; whatever happens, happens.”

I have no doubt that a lot of tech companies, including Canadian startups like Shopify, hired like mad during the pandemic boom knowing full-well that they would end up laying off a bunch of those new hires once things got "normal" again.

A lesson to be learned for anyone taking a job in a fast-growing company is to really think about the value that your specific job brings to the company.

What is your direct contribution to the bottom line? Work this math into whatever official comms you get from your employer when trying to think about what your actual job security looks like.

That and be prepared for layoffs. Have a couple of months of runway put aside somewhere and don't touch it. Because I think these cycles of boom-then-bust for growth are only going to get more frequent.