Elastic lays off 7% of employees
elastic.co
Elastic lays off 7% of employees
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Re: Elastic lays off 7% of employees
#2Makes me sad to read it as an ex-Elastic employee.
AI is used to justify the redundancies, and the company still expects to grow in this fiscal year. In the SEC filling the specifically mention more “head count” in “go-to-market” roles [1].
> a reduction of approximately 7% of our workforce
> Advances in AI, automation, and technology are reshaping how work gets done, and we're changing with them. (…) That's what this reorganization is for: a simpler structure, with fewer layers, less complexity, and less friction.
> The changes we announced today are a sign of confidence in the business, not a retreat from it. We continue to invest in key growth areas and expect total headcount to grow year-over-year this fiscal year [the SEC filling says “ The Company plans to continue hiring in key strategic areas and locations, including continuing to grow headcount in customer-facing go-to-market functions, and expects total headcount to grow this fiscal year compared to last fiscal year, as it continues to invest in future growth opportunities”]
[1]: https://ir.elastic.co/financials/sec-filings/sec-filings-det...
Re: Elastic lays off 7% of employees
#3This announcement spends remarkably few words talking about the what (7% of the company's workforce was laid off), and a great deal of words talking about how bright the future of the company is and how they're going to hire more people.
Re: Elastic lays off 7% of employees
#4Makes me sad to read it as an ex-Elastic employee. AI is used to justify the redundancies, and the company still expects to grow in this fiscal year. In the SEC filling the specifically mention more “head count” in “go-to-market” roles [1]. > a reduction of approximately 7% of our workforce > Advances in AI, automation, and technology are reshaping how work gets done, and we're changing with them. (…) That's what thi…
I've grown to hate executives. This is obviously an AI-generated nothing burger. They never mean what they say publicly.
Re: Elastic lays off 7% of employees
#5[dead]
Re: Elastic lays off 7% of employees
#6I wonder if some of these CEOs are anticipating a big crash and trying to lay people off now, so that (1) they can raise/hoard cash while the money-go-round is spinning and (2) their eng organization is already lean and used to it if/when the money-go-round stops.
“Because of AI” indeed.
Re: Elastic lays off 7% of employees
#7Funny, so many words used but my brain only hears, “I am currently mismanaging this company,” every time one of these layoffs occurs.
Re: Elastic lays off 7% of employees
#8This announcement spends remarkably few words talking about the what (7% of the company's workforce was laid off), and a great deal of words talking about how bright the future of the company is and how they're going to hire more people.
which is why most corporations should be classified as sociopaths, at a minimum.
Re: Elastic lays off 7% of employees
#9This just reaffirms my view is that big companies will lose headcount because of AI, but small and medium companies will (or at least have the potential to) leverage AI to do bigger and better things. This is because big companies could always spend big money on getting what they want made while small companies always have to tradeoff what they can realistically do with the resources they have.
Re: Elastic lays off 7% of employees
#10I recommended an elastic demo for a client that would be well served by Elasticsearch. The Elastic sales folks completely torpedoed the presentation by trying to focus on their AI “capabilities” and not on the recommended talking points. This was 2 years ago.