Ask HN: My employer has about two months of runway left. What shoud I do now?

#1

Post by FinalBriefing » Thu, Oct 13, 2022, 6:07 PM UTC

I'm a frontend developer working at a small company. The company has only a few months of funding left. After that, the product I'm working on may go into a "maintenance mode" with a skeleton crew (best case scenario). There is still a (slim) chance that the company will be purchased, but those talks have been going on for several months, and not much has come from it.

What should I be doing now to prepare, both for myself and whatever happens to the company once I'm gone?

I have been selectively applying to jobs, but I'm not 100% ready to leave yet. It's a nice job with little stress (aside from, you know, the company folding...). On one hand, it would be nice to ride out the next few months, then start applying to jobs once I'm on unemployment (never been on unemployment before, but I've got enough saving to last a while). On the other hand, a lot of tech companies I would want to work for have reduced their hiring, and I don't know what next year will look like. Should I be jumping ship as quickly as possible?

At the company, I've offered to review coworkers' resumes, and encouraged our junior devs to start applying now.

Not sure what else I can do, but any advice from people who have been in a similar situation would be appreciated.

Thanks!

Re: Ask HN: My employer has about two months of runway left. What shoud I do now?

#2

Post by jollyllama » Thu, Oct 13, 2022, 6:20 PM UTC

If I were you, I would start looking for work at an consistently profitable firm, ideally with low amounts of debt (especially if the debt is in adjustable rather than fixed rates).

Re: Ask HN: My employer has about two months of runway left. What shoud I do now?

#3

Post by Move37 » Thu, Oct 13, 2022, 6:21 PM UTC

I would ask myself if the company you work for will go bust 100% or not.

If it does, than seek an open conversation with the founders.

Also, how big is the company and do you hold shares? All things that play into a decision like that I'd say.

Re: Ask HN: My employer has about two months of runway left. What shoud I do now?

#4

Post by FinalBriefing » Thu, Oct 13, 2022, 6:21 PM UTC

jollyllama wrote: post #2

If I were you, I would start looking for work at an consistently profitable firm, ideally with low amounts of debt (especially if the debt is in adjustable rather than fixed rates).

Agreed. I like smaller companies, but I'd like something that will last for more than two years...

Re: Ask HN: My employer has about two months of runway left. What shoud I do now?

#5

Post by mindcrime » Thu, Oct 13, 2022, 6:28 PM UTC

Depends on your tolerance for risk and your savings / expenses scenario, etc. Personally I hate being unemployed, even briefly, and in a scenario like that I'd probably start planning my exit now. But that's just a reflection of my personality and approach to things. Not saying this is the objectively Correct Way To Do Things.

Re: Ask HN: My employer has about two months of runway left. What shoud I do now?

#6

Post by jdileo » Thu, Oct 13, 2022, 6:47 PM UTC

Most important thing you've said is that "....chance that company will be purchased, but those talks have been going on for several months...."

**Never, ever, ever become more committed to a startup than the founders are. A startup warrants devotion and continued work only when leadership is demonstrably committed to victory.

Pls immediately begin pursuit of finding a position that thrills you!

Re: Ask HN: My employer has about two months of runway left. What shoud I do now?

#7

Post by warriormonk5 » Thu, Oct 13, 2022, 6:54 PM UTC

Unless you are involved in that sale discussion or otherwise have a retention bonus I wouldn't go down with the ship.

Re: Ask HN: My employer has about two months of runway left. What shoud I do now?

#8

Post by codingdave » Thu, Oct 13, 2022, 6:57 PM UTC

Focus less on now, and more on 5+ years from now.

If you leave and it does sell, would that be a regret? If you stay and it fails to sell and you are unemployed for a couple months... is that going to feel like it was harmful to you when you picture yourself in 2027 with this being 5 years ago?

The short-term advice is always going to be to jump from the sinking ship, but if there is one thing I've learned in this industry it is that no matter how much your current work and decisions feel important today... there will be a day in the future when it is just a memory of some gig you once had. Make your decisions based on how you want to feel on that day when looking back.

Re: Ask HN: My employer has about two months of runway left. What shoud I do now?

#9

Post by bergenty » Thu, Oct 13, 2022, 7:08 PM UTC

warriormonk5 wrote: post #7

Unless you are involved in that sale discussion or otherwise have a retention bonus I wouldn't go down with the ship.

Why? Sounds like a comfy few months that you get paid during and then can get unemployment for a few more while you look for your next position.

The real question OP is asking is the job market going to be bad in a few months.

Re: Ask HN: My employer has about two months of runway left. What shoud I do now?

#10

Post by kalupa » Thu, Oct 13, 2022, 7:12 PM UTC

bergenty wrote: post #9

warriormonk5 wrote: post #7

Unless you are involved in that sale discussion or otherwise have a retention bonus I wouldn't go down with the ship.

Why? Sounds like a comfy few months that you get paid during and then can get unemployment for a few more while you look for your next position. The real question OP is asking is the job market going to be bad in a few months.

With the announcement or announcement of announcements of layoffs at bigger organizations seems to indicate it might not be. But if OP isn't looking for a FAANG job, then they'll probably be fine. My employer, who I don't represent here and so won't mention, is currently looking for positions to fill, so layoffs from FAANG is often to our benefit.