331–340 of 1001 posts
Hey pc, if you're around: > John and I are fully responsible for the decisions leading up to it. What are the two of you doing to show accountability? Are you slashing your own future stock grants, cutting your own salaries, diluting your positions with stock grants to everyone else? What's the consequence for this decision on your end that shows you're accountable for what happened, not just responsible for it? Sinc…
That's in the email: Severance pay. We will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. That is, those departing will be paid until at least February 21st 2023. Bonus. We will pay our 2022 annual bonus for all departing employees, regardless of their departure date. (It will be prorated for people hired in 2022.) PTO. We’ll pay for all unused PTO time (including in re…
I work for Stripe and got laid off this morning. Sucks because my manager was only told this morning, and didn't have a chance to talk about how well I was doing or take any part in the decision making. We'll at least I'll get a break. I worked nights and weekends all of October.
Sorry you're going through this and hope you don't have too much stress. I also echo the sentiment about needing a break, I wish I got laid off today. I'm not sure I can handle the Stripe culture that emerges from this.
Earlier quoted context omitted.
What did they screw up, though? Their psychic abilities failed? A coin flip came up tails but they bet on heads?
preparing for an eventual end to the free money rally instead of over-hiring isn't exactly something I'd consider to fall into the realm of psychic abilities. is "we're a fast growing business but this cannot last indefinitely, let's not overexpand" ´really too much to ask for? It's constantly happening to tech companies because of their internal fantasies.
Earlier quoted context omitted.
That's in the email: Severance pay. We will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. That is, those departing will be paid until at least February 21st 2023. Bonus. We will pay our 2022 annual bonus for all departing employees, regardless of their departure date. (It will be prorated for people hired in 2022.) PTO. We’ll pay for all unused PTO time (including in re…
To parent's point: no actual consequences for the people making the decision despite the claims that they are "fully responsible". "Feeling super bad about this" is not actually a consequence. I worked at a company that had massive layoffs, leadership claimed it was the hardest day of their life, two weeks later they were literally laughing about the people they laid off when they realized they already had to rehire…
So I start suspecting anyone who talks like this if narcissism. The orange toddler talked like this too.
Hey pc, if you're around: > John and I are fully responsible for the decisions leading up to it. What are the two of you doing to show accountability? Are you slashing your own future stock grants, cutting your own salaries, diluting your positions with stock grants to everyone else? What's the consequence for this decision on your end that shows you're accountable for what happened, not just responsible for it? Sinc…
To many it looked like covid, wfh, etc resulted in a new world with a permanent step level increase in the internet economy that caused Stripe's business to dramatically increase and thus the founders grew the company to support the activity and continue being the best and most innovative internet payment service.
It turns out unfortunately the growth was temporary, inflation skyrocketed, and the world is probably heading into a recession that will further decrease or slow the growth of the internet economy and thus Stripe's business, so the founders are acting quickly and responsibly to cut costs in order to maintain a position of financial strength and continue growing the business and being the best and most innovative internet payment service.
In time, if Stripe continues to succeed and have exceptional business performance, the consequences to the founders should be financial reward for taking quick and effective beneficial action that grew the business.
Hey pc, if you're around: > John and I are fully responsible for the decisions leading up to it. What are the two of you doing to show accountability? Are you slashing your own future stock grants, cutting your own salaries, diluting your positions with stock grants to everyone else? What's the consequence for this decision on your end that shows you're accountable for what happened, not just responsible for it? Sinc…
That's in the email: Severance pay. We will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. That is, those departing will be paid until at least February 21st 2023. Bonus. We will pay our 2022 annual bonus for all departing employees, regardless of their departure date. (It will be prorated for people hired in 2022.) PTO. We’ll pay for all unused PTO time (including in re…
Earlier quoted context omitted.
What more do you want? They are paying out millions in cash ("out of the goodness in their heart"... ie they don't have to and people shouldnt expect) which is directly reducing the value of the equity, which impacts them more than anyone else by a huge proportion. Handing out equity grants makes no little sense to me and is unlikely what these employees want... "hey you're fired, here's some stock at our latest valu…
I think the issue comes from the idea that in tough times, good leaders take their lumps before they expect it from their team. There's lots of colloquialisms that seem to fit this: "Leaders eat last" "We cut the fat starting at the top" "Leaders need to have endurance beyond their troops" I have no skin in the game either. The severance packages are commendable, but I don't think it actually answers the OP's questio…
Do y'all expect them to cut their arm off? I'm not defending pc but the OP's comment wreaks of corporate SJW.
> but I think what they're looking for is some indication that the leadership has personally sacrificed something equal to or exceeding what they expected out of their subordinates
Millions (and billions) come out of their valuation as a result. It's not like they're getting whisked away on a golden parachute.