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that is such a nice severance package that I almost wish I worked there and was getting laid off!
But I have been thinking "the job market is still ok", but am starting to doubt that, it seems like it really is going to be a lot harder to get a job.
Are layoffs like a fashion statement, now? "Look, we're cool, too!" why is everyone doing this at the same time?
He got it exactly right.
Good 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).
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....
Are layoffs like a fashion statement, now? "Look, we're cool, too!" why is everyone doing this at the same time?
It may also be the case that this is an actual correction trend in the market to overhiring. Whether or not that's the case or the target is more of the former is ambiguous to any outsiders so this will be the explanation given because it puts things in a more positive light than the strategic "we have a golden opportunity to cut labor costs so let's do it."
jumping 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)
Good 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).