[dead]
Tell HN: DigitalOcean is doing layoffs
211–220 of 264 posts
Re: Tell HN: DigitalOcean is doing layoffs
#212Re: Tell HN: DigitalOcean is doing layoffs
#213Earlier quoted context omitted.
Gross profit is before a lot of people related expenses are taken out (R&D, sales and marketing, and other admin). Their net income was only $10m for the time frame you're quoting.
Its so crazy to put into perspective. After a whole year, what was their net productivity, with all that tech, all those people, all those degrees? about 25 single family homes.
That's 25 single family homes for company owners only. Don't forget they also gave jobs and salaries for a thousand of people, and a product for the market to use.
Re: Tell HN: DigitalOcean is doing layoffs
#214I don't really get the motivation for this beyond personal greed on behalf of executives that are only seeking to prop up the share price in the short term. The market forces at work will force all technology companies down in valuation pretty much regardless, what is the difference of a few extra million market cap to handicap your ability to grow during the next expansion phase? I can understand it if you have brou…
> Why handicap yourself in the future just to make one quarter look better? Surely if you have faith your stock options will be worth more if you play the longer game? Is this specifically in reference to "I really don't understand cutting stuff like technical writers etc during these periods." ? If so, do you think technical writers are important business value wise?
do you think technical writers are important business value wise?
If they aren't, why were they hired in the first place?
Re: Tell HN: DigitalOcean is doing layoffs
#215Earlier quoted context omitted.
I paid $3500 for a high quality 480p TV in 1997. A 4K OLED TV that will stomp all over that TV can be had now for under $1500. In nominal dollars, the TV fell by over 50%. In real dollars, it fell by over 75%.
Now do car prices.
Cars have both increased in reliability, features, safety, and longevity and deflated significantly in real terms. They have not deflated in nominal terms as consumer electronics have.
Re: Tell HN: DigitalOcean is doing layoffs
#216Earlier quoted context omitted.
Very sorry to hear that, though you seem to have a fairly good outlook about it. Excuse me if it's callous to ask this at this time, but as I've been observing layoffs and been hearing that people are immediately shut down from their systems, I'm wondering: how do they communicate it to you if you can't access your email? Do they reach out to your personal email, call you, send you a letter? I might understand revoki…
I don't understand why it's necessary to treat employees with such sudden distrust. It is necessary to immediately cut off all access? These employees aren't being fired because they are suspected of perpetrating a crime, right? I I understand the need for layoffs, but I can't respect an organization/leadership that treats people so coldly. This behavior also affects non-fired employees that may have a need to ask kn…
A disgruntled SRE with prod access can bring down an entire company. Drop the prod databases, delete the backups, done.
Re: Tell HN: DigitalOcean is doing layoffs
#217The layoffs will continue until productivity improves /s
Or all workers return to the office so management can surveille them
Re: Tell HN: DigitalOcean is doing layoffs
#218I don't really get the motivation for this beyond personal greed on behalf of executives that are only seeking to prop up the share price in the short term. The market forces at work will force all technology companies down in valuation pretty much regardless, what is the difference of a few extra million market cap to handicap your ability to grow during the next expansion phase? I can understand it if you have brou…
It's not to make one quarter look better, it's to align the company with new market expectations. Investors now are expecting responsible cash burn, since capital has become significantly more expensive than before. Companies exchanging cash for market share are no longer as attractive. Profitability and sustainable growth are the new objectives (personally I wish this was always the goal and think the last 3-5 years…
My point is that market expectations are fickle, over-hiring, layoffs etc are all symptoms of paying too much attention to the market in the short term rather than focusing on long term ROE.
Re: Tell HN: DigitalOcean is doing layoffs
#219Earlier quoted context omitted.
To combat inflation in the housing market. A subset of White collar professionals (such as those in Tech, Real Estate, Finance) ended up earning so much that housing became unaffordable as a small but significant minority began buying multiple investment properties https://www.politico.com/news/2021/11/10/rent-inflation-bide... https://www.politico.com/news/2022/12/31/labor-market-high-i... “Tech and finance are taki…
Tech workers are a small portion of workers overall
More than you'd think. BLS says 4.4 million software engineers in the US. Compare that to:
5.5m Nurses
4m Teachers
9.8m Retail workers
Re: Tell HN: DigitalOcean is doing layoffs
#220Earlier quoted context omitted.
The Helpdesk didn't know until after the RIF happened as some of them lost their jobs too. But every fired employee will get some return-labeled boxes shipped over to them, and are asked to pack up their equipment & send them back. Most companies who do these layoffs still count you as an employee for the duration of your severance, and your only real job requirement is to pack up your equipment and drive it to the U…
Last company I was laid off from (a few months ago) said they would deduct from your severance (I forget the amount, but was more than the Macbook was worth) if you didn't return it. I did not test them on that and just returned it.
In the US I think there are varied state laws on what's legal and illegal in that area. This is obviously complicated by any employee agreement that you might've signed up for when you joined the company.
I think the basic decision was "a 2021 MacBook is now worth less due to deprecation than the time it'd take HR/legal to figure this all out, so screw it and let's mark it disposed for $0"