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Gitlab to lay off 7% of staff

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Re: Gitlab to lay off 7% of staff

#21

Are layoffs like a fashion statement, now? "Look, we're cool, too!" why is everyone doing this at the same time?

Besides the economic realities of companies selling shovels to out of work miners, companies always have people they want to layoff but generally want to avoid both the confrontation and publicity.

Once the flood gates open up by your competitors or the sector as a whole starting layoffs, it makes sense to get your own house in order.

Re: Gitlab to lay off 7% of staff

#23

Are layoffs like a fashion statement, now? "Look, we're cool, too!" why is everyone doing this at the same time?

Partly. Another factor is that VC money is starting to dry up. Yet another is that many companies piled on employees during the PANDEMIC! They found that they didn't need that much staff.

I don't know if Gitlab hired a bunch during the PANDEMIC! They might be back to pre PANDEMIC! numbers.

Re: Gitlab to lay off 7% of staff

#25

Are layoffs like a fashion statement, now? "Look, we're cool, too!" why is everyone doing this at the same time?

Everyone is subject to the same macro-economic trends. Massive growth and free money the past few years, now turned into rising interest rates and a bearish market.

Re: Gitlab to lay off 7% of staff

#27

Are layoffs like a fashion statement, now? "Look, we're cool, too!" why is everyone doing this at the same time?

Partly. Another factor is that VC money is starting to dry up. Yet another is that many companies piled on employees during the PANDEMIC! They found that they didn't need that much staff. I don't know if Gitlab hired a bunch during the PANDEMIC! They might be back to pre PANDEMIC! numbers.

They found out they didn't need EXACTLY the same percent of staff than all the other herd didn't need? :P Even if they're massively different megacorps with different financials? :D

Re: Gitlab to lay off 7% of staff

#29

Are layoffs like a fashion statement, now? "Look, we're cool, too!" why is everyone doing this at the same time?

And same percentages! https://www.marketwatch.com/story/pagerduty-to-lay-off-7-of-... https://www.calcalistech.com/ctechnews/article/hjyj6811as https://www.theglobeandmail.com/business/article-hootsuite-r... https://variety.com/2023/digital/news/vox-media-layoffs-130-...

etc....

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