671–680 of 1001 posts
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.
Usually, these 14% lay off happens to get rid off weaker folks. It is data driven.
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> Sucks because my manager was only told this morning As a manager I find their really curious. I guess they were trying to avoid leaks. I wonder how they chose who to lay off. Most recent performance rating? Next level managers impression?
The layoff was leaked on Blind 24-48hrs ago
This is the part I don't like. Stripe is a hugely successful company and they have no urgent material need to let people go. This is an optimization effort. I actually do believe that 'pruning' is a healthy thing for organizations, to enable them to be nimble and dynamic - however - obviously this comes at great social cost. The benefits of 'pruning' come at the cost of externalizing regular, creating real human chal…
We expect our companies to be efficient and competitive -- and that is the correct expectation to have in a market economy! Giving people busywork will hurt companies, and thus the overall economy, in the long run. That will make everything worse, including school funding and homelessness and inequality. After all, if you want to redistribute wealth, you have to generate wealth! It would also mean companies would be…
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If a well position and well oiled company is in fear of losing business and firing people how come you expect to find jobs let alone stable jobs. You give your 4-5 years to a company and the company dumps you at the first sight of hardship. I think Stripe made a bad choice when firing people. They should have decreased salaries, percentage wise more at the management level and try to keep their workers. I wouldn't wa…
> You give your 4-5 years to a company and the company dumps you at the first sight of hardship. You got paid every month for those 4-5 years right? That's the settlement of what the company owes you for the time you gave them. I've had this point of view for a long time. Every payday, you and your employer are even. If you feel that you are giving your employer more than they are giving you, you need to negotiate a…
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> Sucks because my manager was only told this morning As a manager I find their really curious. I guess they were trying to avoid leaks. I wonder how they chose who to lay off. Most recent performance rating? Next level managers impression?
> As a manager I find their really curious. I guess they were trying to avoid leaks. That's something I don't quite get. This adversarial relationship between employees and employers and management is stupid. Why not tell the workforce you have to cut costs, so if you're thinking of changing careers now is the time. Whoever is left presumably wants to stay.
This is the part I don't like. Stripe is a hugely successful company and they have no urgent material need to let people go. This is an optimization effort. I actually do believe that 'pruning' is a healthy thing for organizations, to enable them to be nimble and dynamic - however - obviously this comes at great social cost. The benefits of 'pruning' come at the cost of externalizing regular, creating real human chal…
* 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 regions where tha…
* 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 regions where tha…
I was laid off at the beginning of October and still can’t find anything. It’s definitely a buyer’s market for senior level engineering talent.
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Makes sense. There is an expectation that they might want to welcome some of these people back at some point.
Would anyone go back and work at an office where they were laid off?