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Plaid Layoffs

plaid.com

11–20 of 345 posts

Re: Plaid Layoffs

#11
post #2

So cold, announcing layoffs to employees this way. A blog post saying "yeah, if you work for us, you're about to get an email telling you if you still do or not"

Curious what others think the primary reasons are for this? I'm thinking that it's possible that a majority of their workforce is still working remote, and if you don't turn off system access prior to termination then people might be more likely to do nefarious things (compared to if they were terminated in office?)

Re: Plaid Layoffs

#12
Plaid has brought us a lot closer to fast banking (nowhere NEAR as fast as newer blockchains, but at least they are making old school banking better).

If you helped them make things better and are looking for meaningful work, we are hiring across a range of products: mostly for CancerDB.com, but also PLDB.com, LongBeach.pub, and more (https://pd.pub/)

Re: Plaid Layoffs

#13
post #6

16 weeks of base pay - perhaps this is becoming industry standard for big company layoffs? (influenced by CA WARN act?) Interesting they are paying the cash equivalent of 6 months of healthcare, rather than just extending healthcare for 6 months.

Perhaps group policies are annual with a true up / down later in the year and best to not renew and let them sort out their own policy?

Re: Plaid Layoffs

#14

I guess no annoying Woven by Plaid posts on LinkedIn for a while. Success to these affected people, one rule I always remembered is don’t do layoffs in December, so extra brutal.

[deleted]

Re: Plaid Layoffs

#15
post #8
post #2

So cold, announcing layoffs to employees this way. A blog post saying "yeah, if you work for us, you're about to get an email telling you if you still do or not"

If you have a lot of experience with seeing how layoffs go down in companies, you'll see that no one is ever satisfied with the way they are done. The reception of it is highly subjective. I personally would want to get an email telling me directly and with no bullshit involved. I don't want to listen to a CEO come up with some fake apology, and I also want to absorb the news in the confort of my own time, in my own…

Exactly. There are bad and worse and less bad ways but someone is always going to be pissed. You can’t soon layoffs to those affected as good news. Except for some who already got an offer somewhere else and just hit the jackpot.

Re: Plaid Layoffs

#17
post #2

So cold, announcing layoffs to employees this way. A blog post saying "yeah, if you work for us, you're about to get an email telling you if you still do or not"

Unfortunately, in a highly regulated environment like finance or healthcare this is the norm for opsec reasons. Can't have disgruntled laid-off employees taking revenge actions against the company or customers.

Exactly, and as a regulated company you get audited on your affected leavers process with proof of time stamps for access removal.

Re: Plaid Layoffs

#19
Dear Floofernistas,

This is the hardest thing I have ever done. The market changed - I thought we would make more money, now I think we will make less money. Therefore we have discovered that we don't need all of you.

If you aren't needed, here is some money. I hope this is enough money that the internet isn't too mad at me.

Remaining Floofernistas, please be kind to the ex-Floofernistas, and help them.

Again, I am sad.

Goodbye

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