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Plaid Layoffs

plaid.com

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Re: Plaid Layoffs

#81

Post by notch656a »

jacobmarble wrote: post #59
monero-xmr wrote: post #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 s…

Is it the company's responsibility to employ people until it runs out of money? Are you certain that "here is some money" is just to keep the internet anger at bay? Do companies exist to protect their employees, or to provide something useful for their customers?

> Do companies exist to protect their employees, or to provide something useful for their customers?

Neither. They exist to benefit their shareholders/owners. That's it.

Re: Plaid Layoffs

#82

Post by MajimasEyepatch »

jacobmarble wrote: post #59
monero-xmr wrote: post #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 s…

Is it the company's responsibility to employ people until it runs out of money? Are you certain that "here is some money" is just to keep the internet anger at bay? Do companies exist to protect their employees, or to provide something useful for their customers?

> Do companies exist to protect their employees, or to provide something useful for their customers?

Investors will tell you companies exist to return value to shareholders. The customers and employees are just a means to that end.

Re: Plaid Layoffs

#83

Post by tacker2000 »

game_the0ry wrote: post #61
monero-xmr wrote: post #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 s…

In the chimpanzee world, this would be handled differently. In chimp world, when alpha chimp causes chaos that brings down the community, a group of beta chimps will tear apart alpha chimp limb-by-limb, then they elect a new alpha from the group of beta subversives. This also how the organized crime works - leaders get a lot of benefits, but they also get the downside accountability when they fuck up ("skin in the ga…

The problem is in real life your analogy would actually map the alphas to the ceos and the betas to the shareholders/stakeholders. The employees are nowhere in this.

Edit: as the other post said, they would be the sticks, shovels and other assorted tools…

Re: Plaid Layoffs

#84

Post by conductr »

darkwizard42 wrote: post #43
conductr wrote: post #23

Earlier quoted context omitted.

I've never been a part of something like this where the effected had not already heard about it from their direct manager prior to the official public conversations. Granted it might have only been a couple hours, but they've had some time and privacy to digest the reality ahead of the townhall style discussions & the email blast from the CEO. I'm sure it happens and there are plenty of reasons for it, but I've alway…

I'm not saying that isn't the best for the employee being laid off, but the news spreads SUPER fast. Someone has an unscheduled 1:1 with a manager and then a private meeting immediately after (with HR usually), a few other people see they have similar things that day, and news starts to spread. That causes panic and confusion across the company ANYWAY. I think as the parent said, there is no way that keeps all partie…

> the news spreads SUPER fast

By that point, rumors likely are already circling. Potentially for days/weeks/months. The layoffs require coordination and a lot of input from the org chart. A lot of atypical behavior ensues, unplanned meetings, finance guys sniffing around, etc.

But agree overall. It's chaos and my point was only that it's usually more humane than reading a blog post on the internet and left to wonder when you'll know if it will impact you. It's seldom anyone is completely blindsided.

I've always been privy to the info (usually helping formulate the list and benefit package) and if I can I just stay home the day it's planned to go down. Nothing good happens on that day.

Re: Plaid Layoffs

#85

Post by chadlavi »

aperson_hello wrote: post #53
monero-xmr wrote: post #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 s…

What's the better response here? (Other than not over-hiring in the first place).

not firing people when profit line goes down somewhat

Re: Plaid Layoffs

#86

Post by glonq »

Not that any time is a good time to be laid off, but being this close to Christmas sucks worse. It'll make shopping and travel and family plans a little more uncomfortable.

Re: Plaid Layoffs

#87

Post by bluehatbrit »

dougmwne wrote: post #40
monero-xmr wrote: post #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 s…

And BTW, I take full responsibility for everything, which means nothing.

"I take full responsibility! But I'll still be keeping my job, pay, and maybe getting a bonus for making this difficult decision to maintain our stock value."

Re: Plaid Layoffs

#88

Post by enw »

liquid_stranger wrote: post #50
scifibestfi wrote: post #16

> approximately 260 talented Plaids "Plaids" This joins the list of Googlers, Xooglers, Nooglers, Amazonians, Tweeps, Krakenites, what else?

Coinbae's at Coinbase.

If used sarcastically this can be great. If anyone uses it genuinely in a serious setting I would feel abused.

Re: Plaid Layoffs

#89

Post by hindsightbias »

monero-xmr wrote: post #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 s…

Perhaps we should add a layoff role-playing game to school programs. Not sure which age group to start with, probably before or after junior high. It’s important for our future kinderflooferistas to be fully prepared for the stark hellscapes they face.

Re: Plaid Layoffs

#90

Post by jacobmarble »

glonq wrote: post #67
monero-xmr wrote: post #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 s…

"Signed, rich guy who hopes that shareholders react positively to these layoffs"

Signed, guy who - is trying to build a useful product - thought he might be rich by now - turns out to be worth nothing until profit turns black - is facing the downside of a free market economy - is having one of the worst days of his/her life - will be forgotten by the internet (again) in about 2 days
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