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Stripe laying off around 14% of workforce

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Re: Stripe laying off around 14% of workforce

#951

Post by nicbou »

striper123 wrote: post #816
bigstripedrama wrote: post #323

Earlier quoted context omitted.

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.

I also wish I got laid off today. Stripe is a good company. But the Covid boom really fucked a lot of things up. I genuinely, no exaggeration, not felt my job was safe for a single day working here for over a year, and the worst part is even after this 1000 person layoff I still don't feel safe! It does not feel safe having a job that is so intimately linked to consumer spending. The things I would have done with 14…

If possible, live below your means and set some money aside. It does a lot to diminish that fear.

Re: Stripe laying off around 14% of workforce

#952

Post by bagels »

mooreds wrote: post #235
Nifty3929 wrote: post #190

Layoffs are not an indication of failure. Not on those who get laid off, those that remain, or senior leadership. The universe is a dynamic, changing place. People [should] move in and out of jobs and industries in response to those changes in the world. This is a good thing, and much better than blindly doing the same thing forever, in the face of changes. I don't know the specifics of Stripe's business at all, but…

> Layoffs are not an indication of failure. Not on those who get laid off, those that remain, or senior leadership. I appreciate the sentiment, but think it is hard to believe when you are in it. As someone who got laid off, it sure doesn't feel that way. I felt like a failure, and was angry. It took me about a year to get over it. I've also been part of the "go forward" group (to use the parlance of our times) and t…

Maybe not a failure of those laid off, but perhaps a failure of management.

Re: Stripe laying off around 14% of workforce

#953

Post by saiya-jin »

RowanH wrote: post #945
ddyevf635372 wrote: post #850

Earlier quoted context omitted.

It is time to apply jobs in New Zealand. Economy is strong, easy pathway to be permanent resident. Oh, and it is a beautiful country with super friendly people. https://www.immigration.govt.nz/new-zealand-visas/apply-for-...

The economy is anything but strong. Housing skyrocketed across 20/21/22 in particular, and now coming back down with a thump, combined with big cost of living hikes things are looking grim for your average salaried worker (especially if they have a big/recent mortgage, there's some negative equity love to be had). The only thing that might save us this summer from a very dark outlook is finally the tourists are comin…

Anybody who takes a mortgage on the edge of their affordability and combines it with 1-2 years fixation is plain stupid and lacks primary school math skills, no other way around this simple fact (there is of course almost always the factor of greed but only very simple people let it run unchecked).

As much as I don't wish anything bad to anybody, stupid people being bitten back by their stupid decisions is very low on the sympathy list for anybody, compared to say civilians being shelled at their homes because vladimir woke up pissed off this morning.

Re: Stripe laying off around 14% of workforce

#954

Post by lostlogin »

RowanH wrote: post #945
ddyevf635372 wrote: post #850

Earlier quoted context omitted.

It is time to apply jobs in New Zealand. Economy is strong, easy pathway to be permanent resident. Oh, and it is a beautiful country with super friendly people. https://www.immigration.govt.nz/new-zealand-visas/apply-for-...

The economy is anything but strong. Housing skyrocketed across 20/21/22 in particular, and now coming back down with a thump, combined with big cost of living hikes things are looking grim for your average salaried worker (especially if they have a big/recent mortgage, there's some negative equity love to be had). The only thing that might save us this summer from a very dark outlook is finally the tourists are comin…

I have a lot of sympathy for first home buyers as the market is tough. However if you bought and assumed that rates would stay at 2.5% and you can afford to pay more, I haven’t a ton of sympathy.

The historic average over 10 years is approximately 6.5%.

https://www.canstar.co.nz/home-loans/what-is-the-average-hom...

Re: Stripe laying off around 14% of workforce

#955

Post by badpun »

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

> I have a hard time understanding how anyone could make the next AWS on just a 9-5

Why? Surely it's doable within the 9-5 schedule (plus some people for the on-call rotations), it would just take a bit longer?

Re: Stripe laying off around 14% of workforce

#956

Post by badpun »

radu_floricica wrote: post #552
abeppu wrote: post #525

I know this isn't new or unique to Stripe, but the language used in these announcements to distance leadership from their choices is always so slimy. "We're not 'firing' or 'terminating' anyone; some people are just 'impacted' by our announcement that we have to 'say goodbye'." It makes repeated mentions of those who are "leaving" (the subject is the former employee) and avoids active verbs where the founders are the…

No offence, but they're not putting anybody in the electric chair. They're letting people go with pay until almost March - if you can't find a new job in 4 months, it's on you, and maybe they weren't wrong to give you up. A dynamic job market includes hiring and firings. At most they have to apologize for some disruption, and they more than made up for that with the severance packages. And about the language - "fire"…

> They're letting people go

Letting someone go implies they want to go, and just let them. In this case, the people obviously want to stay and continue working, so you don't let them go, you fire them.

Re: Stripe laying off around 14% of workforce

#957

Post by saiya-jin »

hn_throwaway_99 wrote: post #879
nullc wrote: post #806

Earlier quoted context omitted.

> , typically to avoid leaks or creating hysteria ahead of decisions being finalized When a layoff is known to be coming, the best and most employable people will often head for the doors quickly... leaving the company with a greater concentration of less desirable employees. If it's by surprise then you'll lose fewer of the people you wanted to keep.

I don't that's really generally true. If it seems like the company is a "sinking ship", then yes, people who can see the writing on the wall and have food opportunities elsewhere will often leave quickly. But in this case, nobody is worried about Stripe's long term trajectory or viability. I doubt the best and most employable people are leaving Stripe.

Imagine you had a recruiter call you for this next gig at great company which has +20% salary bump. Once you hear something bad is coming in your current company and no idea if you will be caught in it or not, its much easier step to just go and accept the next offer that you would otherwise pass.

Re: Stripe laying off around 14% of workforce

#958

Post by lostlogin »

saiya-jin wrote: post #953
RowanH wrote: post #945

Earlier quoted context omitted.

The economy is anything but strong. Housing skyrocketed across 20/21/22 in particular, and now coming back down with a thump, combined with big cost of living hikes things are looking grim for your average salaried worker (especially if they have a big/recent mortgage, there's some negative equity love to be had). The only thing that might save us this summer from a very dark outlook is finally the tourists are comin…

Anybody who takes a mortgage on the edge of their affordability and combines it with 1-2 years fixation is plain stupid and lacks primary school math skills, no other way around this simple fact (there is of course almost always the factor of greed but only very simple people let it run unchecked). As much as I don't wish anything bad to anybody, stupid people being bitten back by their stupid decisions is very low o…

Given how strict banks are, I’d be surprised if many people were in this position. A colleagues had their spend on coffee criticised by a bank, then they live well within their means.

Re: Stripe laying off around 14% of workforce

#959

Post by badpun »

AlwaysRock wrote: post #627
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.

Right. A SWE I-IV might be easily able to step into another job, even another job with a similar comp level. But lots of folks, even tech folks, cant do it as quickly. Director of QA? Might be tough and you'll likely turn down 10 manager of QA roles that want you to do hands on work along the way. UX Research? You have a specific skill set that might be very useful at a large company but a lot of companies will want…

> Thats two examples but there are countless others. Plus a lot of folks go to Stripe as their first FANG+_job. They might not be able to step into another FANG+ role and could have to take a massive pay cut in their next roll.

Oh, the woes of dropping from 98th income percentile to 95th...

Re: Stripe laying off around 14% of workforce

#960

Post by bambataa »

anonym29 wrote: post #836
dangerwill wrote: post #565

Earlier quoted context omitted.

"Build up a rolodex of recruiters." - Given the sheer amount of LinkedIn spam I get from all over the world and for all kinds of roles, I doubt that most recruiters see any individual SWE on LinkedIn as anything other than a cell in a spreadsheet, no matter how friendly you are to them over email.

I can personally attest otherwise. There are many like this, and many of those aren't even open to building a real relationship with their recruitees, but that seems to become apparent pretty quickly when trying to establish a friendly relationship. I have found that I get better placements and better rates of follow-up interview rounds with the ones I do have a stronger connection with, which is why I mention this.…

How do you recommend identifying the good ones? I know to look for the more experienced ones and avoid people who’ve been bouncing around various sales roles. Also the ones hanging out on dev discords or mailing lists tend to be better. But it’s very hard to tell on LinkedIn.
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