Stripe laying off around 14% of workforce • Hacker News Board

Re: Stripe laying off around 14% of workforce

#731

Post by truthwhisperer » Thu, Nov 03, 2022, 9:19 PM UTC

jcadam wrote: post #677

gzer0 wrote: post #633

* 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.

No post body was provided.

Re: Stripe laying off around 14% of workforce

#732

Post by truthwhisperer » Thu, Nov 03, 2022, 9:20 PM UTC

gzer0 wrote: post #633

* 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…

No post body was provided.

Re: Stripe laying off around 14% of workforce

#733

Post by 0xjmp » Thu, Nov 03, 2022, 9:22 PM UTC

system2 wrote: post #661

udev wrote: post #636

Earlier quoted context omitted.

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?

I enjoyed working at Stripe. I would go back.

Re: Stripe laying off around 14% of workforce

#734

Post by Andrew_nenakhov » Thu, Nov 03, 2022, 9:24 PM UTC

verst wrote: post #564

jgoodhcg wrote: post #558

Earlier quoted context omitted.

4 months is relatively generous but... > if you can't find a new job in 4 months, it's on you, This statement feels _wrong_. We are all subject to macro trends that we don't have control over. They impact our lives. Even the well off tech people but especially people in other industries.

Good luck finding a job in this economy now. It's tough for everyone, even the most skilled. Many companies have outright hiring freezes. I just read that Amazon now has a hiring freeze for all corporate jobs, previously this only impacted retail, stores etc

A good strategy is to lower your compensation expectations significantly. You might get paid 40% or 50% of previous pay, but you still have solid ground under your feet and for once you might get an interesting project you always wanted to do, using some tech you never had time to try. Add it's not slavery, you can change jobs again when market improves.

Re: Stripe laying off around 14% of workforce

#735

Post by bergenty » Thu, Nov 03, 2022, 9:28 PM UTC

TorKlingberg wrote: post #418

thunkle wrote: post #298

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.

> 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?

Usually squads that aren’t totally “essential”. We ended up firing a lot of our analytics department since our new head wasn’t as data oriented.

Re: Stripe laying off around 14% of workforce

#736

Post by DeathArrow » Thu, Nov 03, 2022, 9:29 PM UTC

jcadam wrote: post #677

gzer0 wrote: post #633

* 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.

Me too. I was laid off at the beginning of October. I got three good offers, picked the best and signed the contract.

I went through about 15 interviews and applied to maybe 50 positions.

Re: Stripe laying off around 14% of workforce

#737

Post by DeathArrow » Thu, Nov 03, 2022, 9:31 PM UTC

ketzo wrote: post #688

Grazester wrote: post #681

Earlier quoted context omitted.

Amazon and Google are always calling, even now I gets emails from both. Amazon recruiters just spam me. Shoot your shot there if interested

Amazon announced a corporate-level hiring freeze just today, FYI.

Funny, I did my first interview with them a week ago.

Re: Stripe laying off around 14% of workforce

#738

Post by laweijfmvo » Thu, Nov 03, 2022, 9:35 PM UTC

rboyd wrote: post #121

first one of these I’ve seen that included an alumni email account

what would be the purpose of this? sincerely hope it's not so they can reach out to former employees for free consulting

Re: Stripe laying off around 14% of workforce

#739

Post by robryan » Thu, Nov 03, 2022, 9:39 PM UTC

rexreed wrote: post #245

Stripe stresses me out. I really cringe worrying about having too many financial eggs in the Stripe basket. But Paypal is no alternative and traditional CC processors are awful. How does one hedge their bets with Stripe? I worry one day we'll hit some transaction "trigger" and then all our money will get locked up in Stripe with no customer support recourse. I fear being "too successful" with no recourse if I depend…

Airwallex is another good choice now, their API/ sdks aren't as mature as stripe but are catching up. If you are charging in multicurrrncy can actually end up with a much better deal on Airwallex.

Re: Stripe laying off around 14% of workforce

#740

Post by unexpected » Thu, Nov 03, 2022, 9:44 PM UTC

jcadam wrote: post #690

WFHRenaissance wrote: post #678

Earlier quoted context omitted.

What sort of engineer are you and how many years of experience?

16 years. Working at the Senior/Staff level. Most recently Clojure work. I’ve done a lot of Java of course, although I’ve been rejected from some of those jobs because I spent the last year doing Clojure full time instead of Java.

This is monumentally stupid, but I wonder if you should just leave the last year of Clojure off of your resume.