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Stripe laying off around 14% of workforce

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Re: Stripe laying off around 14% of workforce

#901

Post by hazyc »

cr4nberry wrote: post #897
lmarcos wrote: post #694

Earlier quoted context omitted.

It could be as well that it's an European thing. At least over here work is just work (9 to 5, or less if possible), so we prefer to spent life with friends and family. Yeah, we don't earn $500K/year, but that's alright.

This feels odd to read as an American. I have a hard time understanding how anyone could make the next AWS on just a 9-5

Not sure if you're joking, but "we prefer to spent life with friends and family" implies that they have no interest or desire to build the next AWS.

Re: Stripe laying off around 14% of workforce

#902

Post by 29athrowaway »

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.

There are many factors contributing to this...

- Higher interest rates = Less access to capital for tech companies

- Remote work = More out-of-state and international competition for jobs based on tech hubs

- Easier to use technologies = Lower entry barrier to engineering jobs = More people switching careers and becoming software engineers

- More people opting to become software engineers

- Stacked ranking and mass layoffs

Re: Stripe laying off around 14% of workforce

#904

Post by bluishgreen »

memish wrote: post #90
eganist wrote: post #47

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…

Immigration support should read like this if it is to align with even a grain of truth.

"We know that this situation is particularly tough if you’re a visa holder. Basically you are fucked. Here is a dildo sign to show you in picture what your situation is. There is nothing called non-employment visa. So here is a picture of two dildos if you are still reading this"

Re: Stripe laying off around 14% of workforce

#905

Post by grog454 »

sirsinsalot wrote: post #753
oblio wrote: post #747

Earlier quoted context omitted.

> I feel most decent engineers can get rehired elsewhere with 14 weeks of runway. Oh, sweet summer children and children of recession free economies for IT. If job openings fall to 10-20-30% of current ones and tens, hundreds of thousands of IT workers are fired, good luck getting hired quickly, when any of the few good remaining job opening has hundreds of good applicants. We'll be back to the days of: Sure, you can…

I've been a continuously hired coder for 20 years, with zero qualifications, and have never experienced anything but demand even in recession. There's always non FAANG boring crud apps to code.

I've read plenty of war stories on this site that made the 2000 crash sound unrivaled to this day. 20 years just barely misses that.

Re: Stripe laying off around 14% of workforce

#906

Post by slotrans »

datavirtue wrote: post #758
latortuga wrote: post #746

Earlier quoted context omitted.

Unlimited PTO sucks for employees. It isn't the case in every state but some states, including mine, require employers to pay out PTO upon separation. So having unlimited automatically means you get paid out nothing on separation, a bad deal for employees. If you're allowed to take time off, then you have earned it but because of the policy, you don't get to realize the benefit of having earned it upon separation. Un…

"Unlimited PTO also discourages using PTO because nobody wants to be seen as the person taking the most vacation" This fallacy needs to die. When I was at GE everyone in my blast radius took at least 1 month per year. Many took much more than that. There was no stigma.

It's not a fallacy. It's true, and obviously true.

It may not be true everywhere, but every company I've worked in that had "unlimited" PTO had far fewer vacation days taken than companies with a limited allocation of days.

Re: Stripe laying off around 14% of workforce

#907

Post by grog454 »

latortuga wrote: post #746
travismark wrote: post #693

Earlier quoted context omitted.

what is "unused PTO" - I thought every company was now on the unlimited/zero PTO model

Unlimited PTO sucks for employees. It isn't the case in every state but some states, including mine, require employers to pay out PTO upon separation. So having unlimited automatically means you get paid out nothing on separation, a bad deal for employees. If you're allowed to take time off, then you have earned it but because of the policy, you don't get to realize the benefit of having earned it upon separation. Un…

> Unlimited PTO also discourages using PTO because nobody wants to be seen as the person taking the most vacation.

I'll take one for the team then. When do I start?

Re: Stripe laying off around 14% of workforce

#908

Post by plasticeagle »

dmix wrote: post #884
jcadam wrote: post #862

Quoted post unavailable.

New Zealand gets the unfortunate legacy of having to share the "zero COVID" mantra with a small group of fellow partners like China (which the NZ PM promoted harder than any other leader via speaker circuits). But otherwise I don't know much about NZ to critique.

NZ does not have a zero covid strategy, and never did. Pretty much all of NZ's covid restrictions have been removed, and there are thousands of reported cases at the moment.

Re: Stripe laying off around 14% of workforce

#909

Post by jdminhbg »

SkyMarshal wrote: post #887
jcadam wrote: post #862

Quoted post unavailable.

Of all the national leaders that could be considered scary - Putin, Xi Jinping, etc. - Jacinda Ardern scares you?

I don’t think the parent comment said he was planning to move to Russia or China instead.

Re: Stripe laying off around 14% of workforce

#910

Post by lazyasciiart »

okaram wrote: post #777
travismark wrote: post #693

Earlier quoted context omitted.

what is "unused PTO" - I thought every company was now on the unlimited/zero PTO model

I don't know of any big company with unlimited PTO.

Netflix, Salesforce, General Electric...
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