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Gitlab to lay off 7% of staff

about.gitlab.com

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Re: Gitlab to lay off 7% of staff

#71

Ok, 7%. With all the cost, I wonder if just stopping hiring and letting normal attrition rate play out would have had almost the same effect.

From a cost basis, this could possibly be true. But, with that type of attrition, you would probably see a greater percentage of high-performers go because they have good options. Then, you not only have lower producing staff, but it also becomes more difficult to hire top level talent back, because they want to work with other folks like themselves.

Re: Gitlab to lay off 7% of staff

#73

Severance: A single payout equal to four months' base salary, and payments will be made according to local processes and timing requirements. Equity: We’re accelerating vesting through 2023-03-15 and removing the vesting cliff for team members who have been granted equity and have been with us for under six months. Healthcare: Based on location and current benefit options previously selected by team members, healthca…

[deleted]

Re: Gitlab to lay off 7% of staff

#75

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

See AGM's thread on Twitter: https://twitter.com/antoniogm/status/1593606745955348481 He got it exactly right.

Seems like an Elon bootlicker babbling more than anything.

Re: Gitlab to lay off 7% of staff

#76
post #5

There’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.

I've been reminded of the "Up in the Air" film from the last recession, where George Clooney flew around the country firing people

https://www.youtube.com/watch?v=TkX-TPaodoM

The film included a lot of people who had really been fired and what their honest reactions were

Re: Gitlab to lay off 7% of staff

#77

Severance: A single payout equal to four months' base salary, and payments will be made according to local processes and timing requirements. Equity: We’re accelerating vesting through 2023-03-15 and removing the vesting cliff for team members who have been granted equity and have been with us for under six months. Healthcare: Based on location and current benefit options previously selected by team members, healthca…

Was the severance written into their contract or was it just a nice thing the company did?

Re: Gitlab to lay off 7% of staff

#78

Ok, 7%. With all the cost, I wonder if just stopping hiring and letting normal attrition rate play out would have had almost the same effect.

You're missing the point - the point is to send a message, to employees and to the investors. That they're SERIOUS COMPANY that does the right thing. Follows the market. Listens to economy. That won't hear complaints from the entitled lazy overpampered engineering workers. That they need to get back to the factory and be like all other quiet labor. That HARD DECISIONS can be made without regret when bankers ask for them.

Re: Gitlab to lay off 7% of staff

#79
post #56

At this point it's beginning to look like tech companies are doing this because it's the trendy thing to do, along with inserting a few words about AI in their websites and pitch decks.

"What explains why so many companies are laying large numbers of their workforce off? The answer is simple: copycat behavior, according to Jeffrey Pfeffer, a professor at the Stanford Graduate School of Business."

https://news.stanford.edu/2022/12/05/explains-recent-tech-la...

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