How many is that in absolute numbers?
Gitlab to lay off 7% of staff
11–20 of 622 posts
Re: Gitlab to lay off 7% of staff
#12There’s an opportunity for a SaaS that will provide a boilerplate layoff template, all you have to do is put in your % impacted and severance terms.
Its called ChatGPT and its free.
Re: Gitlab to lay off 7% of staff
#13It's impossible to parse these percentages when the article doesn't state the total amount of employees a company has.
According to their website, they have (had) 2,159 employees, so this affects ~151 people.
Re: Gitlab to lay off 7% of staff
#14Re: Gitlab to lay off 7% of staff
#15There’s an opportunity for a SaaS that will provide a boilerplate layoff template, all you have to do is put in your % impacted and severance terms.
Its called ChatGPT and its free.
Where’s your entrepreneurial spirit? Companies will pay at least $1,000 to offload the negative PR of copying others’ layoff emails verbatim. No brainer.
Re: Gitlab to lay off 7% of staff
#16Re: Gitlab to lay off 7% of staff
#17jumping on the bandwagon.
unlike other companies Gitlab is _still_ not profitable
https://ir.gitlab.com/news-releases/news-release-details/git...
Fiscal Year 2022 Highlights:
Total revenue of $252.7 million GAAP operating margin of (51)%; Non-GAAP operating margin of (39)%
hence cutting costs before borrowing money becomes too expensive (0% interest rates are gone)
Re: Gitlab to lay off 7% of staff
#18Good on them for offering proper severance. At my company, we got 2wks and nothing else. Not even a thoughtful letter from the CEO. Nothing. (And this was a sizable tech company in the middle of an IPO).
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Re: Gitlab to lay off 7% of staff
#19Re: Gitlab to lay off 7% of staff
#20Are layoffs like a fashion statement, now? "Look, we're cool, too!" why is everyone doing this at the same time?
The economy and stock market impacts similarly positioned companies all at the same time. And in this corner of the Internet, that seems like "everyone."
There are other companies doing great -- Stryker (NYSE: SYK) is near their all-time high and has not done layoffs as far as I know.