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Layoffs at Block

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701–710 of 1001 posts

Re: Layoffs at Block

#701

> i had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. Sounds like a false dichotomy. The third option is that he could have kept them around. It would be financially feasible given that "our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving.".

As someone who comes from a country where it's very hard to fire people, don't make that mistake. Staying in a company where you're not wanted is a miserable experience. The company will do anything to make you leave. Plus, it weakens companies and makes for a poor general worker experience. What should be done instead is mandate generous severance packages that increase with tenure. But give companies a clear path t…

As someone who comes from a country where it’s very hard to fire people: fuck the companies.

This is the reason why we need the laws in the first place. Many people leave their countries, move their families, buy houses/flats, plan for stability just to be what? Laid off, because investors said so or tripping CEO woke up on the wrong side of the bed? We’re talking about people for fucks sake, workers aren’t Docker pods that are scaled up and down. If they are, they should be compensated for the constant risk they bear.

Re: Layoffs at Block

#702

> i had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. Sounds like a false dichotomy. The third option is that he could have kept them around. It would be financially feasible given that "our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving.".

On shareholder money? No thank you. If 1 person can do the job, why keep 2?

Shareholders didn’t complain when those workers inflated their obscene capitals.

Re: Layoffs at Block

#703

Nice severance; but in this job market, holy shit. Yeah, you get 5 months of severance and a bunch of devices and such; but, does this CEO really think these employees will find new work in that time? In this job market? If the profits are still up and growing, why on earth would you evict 40% of the company, to send them into this job market? Why not … try new industries, play around, try to become the next Mitsubis…

> Yeah, you get 5 months of severance and a bunch of devices and such; but, does this CEO really think these employees will find new work in that time? In this job market?

Bold of you to assume he gives a single shit about it.

Re: Layoffs at Block

#704

> i had two options: cut gradually over months or years as this shift plays out, or be honest about where we are and act on it now. Sounds like a false dichotomy. The third option is that he could have kept them around. It would be financially feasible given that "our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving.".

On shareholder money? No thank you. If 1 person can do the job, why keep 2?

If you're a healthy company that is growing, you could do 2x as much stuff!

Re: Layoffs at Block

#705
post #48

We'll see how much the AI aspect is true by whether they're thinning out teams equally, or just axing whole initiatives. My impression of Block was that it was mostly a one-trick pony (okay, two if you include CashApp) with a bunch of side initiatives that never seemed to pan out, so I'm expecting it to be more of the latter, with this being more of an admission that they're now in "maintenance mode". Either way, I t…

I'm convinced that these "AI Layoffs" are these companies trying to save face from the absurd overhiring that they did in 2022 and 2023 because apparently they thought that these no-interest loans/free money would just last forever. No one really "knows" how to grow businesses so the easiest way to spend a lot of money quickly is hiring lots of people, whether or not they are "necessary". Then this free money dries u…

Never let a crisis go to waste, right?

Re: Layoffs at Block

#706

Earlier quoted context omitted.

> I'm convinced that these "AI Layoffs" are these companies trying to save face from the absurd overhiring that they did in 2022 and 2023 because apparently they thought that these no-interest loans/free money would just last forever. Partially. The first nail in the coffin was the change in assumptions around output. Before 2023, there was an assumption that more bodies means more output. After the massive X/Twitter…

>After the massive X/Twitter layoffs (60-70% headcount culled) with X/Twitter still standing, this assumption was clearly proven false. I agree with your sentiment, but this example is awful. Twitter cut engineering staffed, pissed off advertisers that caused an exodus, had its stock steadily declining under Musk, and eventually decided to go private again. Only to be "aquired" by Musk's AI wing. Maybe there was a la…

> stock steadily declining under Musk, and eventually decided to go private again.

The acquisition involved a buyout which took it private. There was no period under Musk where Twitter was publically traded, let alone one that saw steadily declining stock.

Re: Layoffs at Block

#707
post #254

This is one of the best (if not the best) layoff letters I've seen online (no affiliation, don't know anyone working there, purely outsider perspective). * Severance packages upfront because realistically that's what everyone worries about first. * Reasoning second. I appreciate the one clean cut vs prolonged bleeding. * Owning the decision and respecting the people that got you there. Opting for an awkward allhands…

Apart from the bit where he lays 4000 people off, but himself is untouched. Oh and the bit where he claims AI efficiencies are the reason. If I had to do this to a company I’d built I’d fire myself too. It’s an admission of a massive failure of leadership.

Companies grow and shrink. That’s not “a massive failure”.

Re: Layoffs at Block

#708

Nice severance; but in this job market, holy shit. Yeah, you get 5 months of severance and a bunch of devices and such; but, does this CEO really think these employees will find new work in that time? In this job market? If the profits are still up and growing, why on earth would you evict 40% of the company, to send them into this job market? Why not … try new industries, play around, try to become the next Mitsubis…

You are trying to see employees as more than just statistics which is not what CEOs are doing. They are not empathising with 4k employees because they are not seeing 4k human beings through multiple layers of abstraction. To survive at their job they have to choose abstraction. The human brain doesn't have the capacity to simultaneously comprehend the complex needs and emotions of 4000 other human beings without burn…

> To survive at their job they have to choose abstraction.

Or just be a psychopath.

Re: Layoffs at Block

#709
post #48

We'll see how much the AI aspect is true by whether they're thinning out teams equally, or just axing whole initiatives. My impression of Block was that it was mostly a one-trick pony (okay, two if you include CashApp) with a bunch of side initiatives that never seemed to pan out, so I'm expecting it to be more of the latter, with this being more of an admission that they're now in "maintenance mode". Either way, I t…

I'm convinced that these "AI Layoffs" are these companies trying to save face from the absurd overhiring that they did in 2022 and 2023 because apparently they thought that these no-interest loans/free money would just last forever. No one really "knows" how to grow businesses so the easiest way to spend a lot of money quickly is hiring lots of people, whether or not they are "necessary". Then this free money dries u…

> save face from the absurd overhiring that they did in 2022 and 2023

I wonder how we all of sudden got so many candidates back from 2020 to 2022

Re: Layoffs at Block

#710
post #557

Jack Dorsey has a habit of explosively increasing headcount. Twitter was so overweight that 80% were eliminated when Musk took over. Block's headcount grew from 3,900 to 12,500 in three years during Covid. Block's stock price has also tumbled from ~$275 to ~$54 since 2022. I think that the severance package is incredibly generous, and the willingness to communicate with those affected is admirable. But I also think t…

And twitter hasn't launched one single meaningful anything since. If your definition of success is 'let's keep the codebase running and make sure servers don't go bust' then yes twitter is doing great with fewer people

> And twitter hasn't launched one single meaningful anything since.

Longer tweets? Analytics? Premium? Grok? AI autogenerated news summaries? Livestreaming? I honestly have a harder time trying to think of features launched between 2011 and 2022, besides spaces.

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