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Lyft to lay off about 700 employees in second round of job cuts

wsj.com

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Re: Lyft to lay off about 700 employees in second round of job cuts

#181

Post by nathanvanfleet »

bluedino wrote: post #179
datalopers wrote: post #18

Earlier quoted context omitted.

All these companies have vastly overhired. Think of your own peers and colleagues. How many are a) utterly useless or b) competent but don't have anything to do so they spend time working on mostly pointless projects to improve their CV?

Back in the 90's my step-father worked in a factory, and he and his buddies always joked about a guy there that never did a single lick of work. He took a VHS camcorder in one day, and recorded the guy flipping a piece of metal over on a table a couple times, then moving the piece of metal to a new table. Repeating this over and over throughout a 10/12 hour day.

And your dad had 10 hours to film him apparently

Re: Lyft to lay off about 700 employees in second round of job cuts

#182

Post by SoftTalker »

jhickok wrote: post #105
andreilys wrote: post #98

Earlier quoted context omitted.

The definition of a recession is two consecutive quarters of negative growth, which we've had. We're waking up from a a long night of heavy drinking (free money via zero interest rate, unrestrained QE, etc.), the bill is due and you're plugging your ears and yelling that the party must go on.

But we had growth last quarter now, right?

Preliminary report. It will get revised.

Re: Lyft to lay off about 700 employees in second round of job cuts

#183

Post by pcurve »

jstx1 wrote: post #3

Where are we heading if every company drop 10-20% of their staff?

slowly returning to normal salary, along with stagnation of pays for those who were brought on high.

I suspect a lot of underqualified people were able to get jobs at high salary in the past 1 year.

I know this has caused grief and concerns for more tenured employees doing the same job (and better)

Re: Lyft to lay off about 700 employees in second round of job cuts

#185

Post by bluepizza »

sangnoir wrote: post #169
datalopers wrote: post #18

Earlier quoted context omitted.

All these companies have vastly overhired. Think of your own peers and colleagues. How many are a) utterly useless or b) competent but don't have anything to do so they spend time working on mostly pointless projects to improve their CV?

Fundamental attribution error: how many of your colleagues think the same of you? When it come to you, obviously the problem is the "complixities of the problem space" and "blockers" you're dealing with, but when it's someone else on some random team, they are slow because they are useless.

Wish you were right. Unfortunately, most tech companies have some decent amount of people coasting at the lowest level of effort.

My current team has 6 people. 3 are delivering at normal levels, but the other 3 complete one task per week at most. And those are tasks that take a couple of hours at most. This is happening everywhere, and is a clear consequence of overhiring.

Re: Lyft to lay off about 700 employees in second round of job cuts

#186

Post by shaburn »

tqi wrote: post #48

Did these companies accelerate planned layoffs because they figure Twitter layoffs on Friday would help take the spotlight off of them?

More likely in response to the interest rate raise. Effectively the leathal injection to the tech sector.

Re: Lyft to lay off about 700 employees in second round of job cuts

#187

Post by bluepizza »

nathanvanfleet wrote: post #181
bluedino wrote: post #179

Earlier quoted context omitted.

Back in the 90's my step-father worked in a factory, and he and his buddies always joked about a guy there that never did a single lick of work. He took a VHS camcorder in one day, and recorded the guy flipping a piece of metal over on a table a couple times, then moving the piece of metal to a new table. Repeating this over and over throughout a 10/12 hour day.

And your dad had 10 hours to film him apparently

The camcorder stays still, and you need to press the button twice. Couldn't have taken the guy more than 5 mins.

Re: Lyft to lay off about 700 employees in second round of job cuts

#188

Post by pc86 »

bluepizza wrote: post #185
sangnoir wrote: post #169

Earlier quoted context omitted.

Fundamental attribution error: how many of your colleagues think the same of you? When it come to you, obviously the problem is the "complixities of the problem space" and "blockers" you're dealing with, but when it's someone else on some random team, they are slow because they are useless.

Wish you were right. Unfortunately, most tech companies have some decent amount of people coasting at the lowest level of effort. My current team has 6 people. 3 are delivering at normal levels, but the other 3 complete one task per week at most. And those are tasks that take a couple of hours at most. This is happening everywhere, and is a clear consequence of overhiring.

How is it a natural consequence of overhiring that 50% of your team will work 4 hours/week?

Re: Lyft to lay off about 700 employees in second round of job cuts

#189

Post by pc86 »

bluepizza wrote: post #187
nathanvanfleet wrote: post #181

Earlier quoted context omitted.

And your dad had 10 hours to film him apparently

The camcorder stays still, and you need to press the button twice. Couldn't have taken the guy more than 5 mins.

5 minutes to press a button twice? I'll do it in 4.

Re: Lyft to lay off about 700 employees in second round of job cuts

#190

Post by jonathankoren »

matwood wrote: post #154
granshaw wrote: post #39

Earlier quoted context omitted.

I was too young then, but did that crash have the same "everyone and their mother sees it coming and have been talking about it months before" feeling? Cause this "crash" is surely like that – it has to be the most "expected and talked about" one in modern times...

The .com crash was obvious it was going to happen, but when was the problem [1]. Companies were IPOing with no business model and no clear path to one. Imagine if the majority of the nasdaq was SPACs and crypto...yeah. I wish fuckedcompany.com was still around because it cataloged the implosion of the insanity. [1] The market can stay irrational longer than you can stay solvent.

> I wish fuckedcompany.com was still around because it cataloged the implosion of the insanity.

Kozmo was the GOAT in the dead pool.

Blows my mind that Kozma's failed business model is back and bigger than ever, but with the same fundamental profitability problems.

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