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Plaid Layoffs

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Re: Plaid Layoffs

#261

Post by koliber »

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…

If you were the CEO of a company that needs to lay people off, how would you handle it differently.

Re: Plaid Layoffs

#262

Post by lovich »

nathanaldensr wrote: post #165
lovich wrote: post #109

Earlier quoted context omitted.

Interest rates were increased by the federal reserve to ultimately try to increase unemployment to hopefully decrease inflation. This is working by increasing the cost of capital

I would characterize it as "this is working to end almost two decades of free debt grift."

You could, but that would be ignoring the federal reserves own statements about why they are doing this[1]. It’s not a conspiracy to think they are trying to raise the unemployment rate, they’ve been very open about it

[1] https://www.cbsnews.com/news/fed-interest-rate-hikes-unemplo...

Re: Plaid Layoffs

#263

Post by satvikpendem »

cjglo wrote: post #99
dougmwne wrote: post #40

Earlier quoted context omitted.

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

In the words of Gavin Belson: “Make no mistake, though they are the ones leaving, it is I who must remain and endure the heavy burden of their failure.”

"Goodbyes are always hard, especially when I am the one saying goodbye. Today, effective immediately, I, Gavin Belson, founder and CEO of Hooli, am forced to officially say goodbye...to the entire Nucleus division.

But make no mistake, though they are the ones leaving, it is I who must remain and bear the heavy burden of their failure. It is my fault, I trusted them to get the job done, but that is the price of leadership."

Incredible writing by Mike Judge and co, it's satire that's literally too real sometimes.

Re: Plaid Layoffs

#264

Post by UtopiaPunk »

jdnffjvnv wrote: post #128
game_the0ry wrote: post #61

Earlier quoted context omitted.

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…

Are you advocating for mob violence against CEOs for laying people off?

I think mob violence against individuals is pretty bad. However, it would probably be a better system than the brutal precarious system we have now

Re: Plaid Layoffs

#265

Post by erehweb »

dragonwriter wrote: post #214
erehweb wrote: 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.

CA WARN Act is 60 days notice, and does not allow pay-in-lieu (you can keep people on payroll with full benefits but bo duties for the notice period, but that’s different than pay-in-lieu.) > Interesting they are paying the cash equivalent of 6 months of healthcare, rather than just extending healthcare for 6 months Given COBRA, that is practically the same thing, but gives the employee more choice (it also provides…

Re not allowing pay-in-lieu, I guess that is correct, but this link implies that the penalty for not giving notice would be the wages, so the 60 days in-lieu would satisfy this - no room for extra damages https://california-business-lawyer-corporate-lawyer.com/empl...

Admin burden of dealing with COBRA is non-trivial, so I would rather have the healthcare than the money.

Re: Plaid Layoffs

#266

Post by erehweb »

dehrmann wrote: post #204
erehweb wrote: 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.

WARN Act is only 60 days, though.

Well sure. The 60 days acts as a lower bound. If it weren't there, then you'd see lower severance numbers.

Re: Plaid Layoffs

#267

Post by pxue »

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 beta chimps are the shareholders and the board.

Re: Plaid Layoffs

#268

Post by hbn »

function_seven wrote: post #172
borbulon wrote: post #163

ChatGPT for layoff announcements > generate a notice that approximately 4000 people are going to be laid off Dear valued employees, It is with great regret that we must inform you that our company will be downsizing and approximately 4000 employees will be laid off. This decision was not made lightly, but it has become necessary in order to keep our company financially viable. We understand that this news may be diff…

Holy shit the bot does a great job at this. Ironically, I now get to fire a couple Communications Specialists and tell the HR team to just use the bot. Thanks, you just unlocked value.

> tell the HR team to just use the bot

Why tell the HR team to pass requests along to the bot?

Cut out the middle-man at that point!

Re: Plaid Layoffs

#269

Post by hbn »

FeistySkink wrote: post #32
scifibestfi wrote: post #16

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

Is there some HR from hell manual somewhere that encourages this? Does anybody sincerely enjoy being called some cringey pun?

I imagine when Google was actually a cool, fun underdog that was upending industry, a lot more employees took pride in being part of the team doing that.

Now you're basically working for a branch of world government. Most likely doing meaningless gruntwork to reinvent the wheel for the umpteenth time, or actively doing evil.

Re: Plaid Layoffs

#270

Post by namdnay »

dmitriid wrote: post #111
namdnay wrote: post #24

Earlier quoted context omitted.

It’s the silly cutsey name they give to themselves, like metamates or googlers. So it makes sense to consider them “part of the family” until the end

> It’s the silly cutsey name they give to themselves, like metamates or googlers. No on in their right minds are giving these names to themselves. It's the HR "we are all a big family" playbook since forever.

Yes and no, I know “googler” and “noogler” appeared organically
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