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Carta lays off 10% of the workforce

news.ycombinator.com

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Re: Carta lays off 10% of the workforce

#11

Post by m8s »

globalise83 wrote: post #8

I find it strange that the incentives for self-departure are weaker than for non-voluntary departure. Usually it's the other way around, or maybe just where I come from. What's the logic behind incentivising people to not quit?

I was about to ask the same thing. Why would someone leave voluntarily for worse benefits?

Re: Carta lays off 10% of the workforce

#12

Post by dsr_ »

m8s wrote: post #11
globalise83 wrote: post #8

I find it strange that the incentives for self-departure are weaker than for non-voluntary departure. Usually it's the other way around, or maybe just where I come from. What's the logic behind incentivising people to not quit?

I was about to ask the same thing. Why would someone leave voluntarily for worse benefits?

They want to bias the volunteers towards those who really don't like the company and those who haven't been there as long.

Re: Carta lays off 10% of the workforce

#13

Post by licebmi__at__ »

globalise83 wrote: post #8

I find it strange that the incentives for self-departure are weaker than for non-voluntary departure. Usually it's the other way around, or maybe just where I come from. What's the logic behind incentivising people to not quit?

Provided that you had a business plan behind the layoff and you keep only employees whom you deem necessary for that business plan. Why would you want them to leave?

Re: Carta lays off 10% of the workforce

#16

Post by danwee »

I always wondered how American companies lay off European employees (when the companies have branches in European countries). Usually, in Europe, you cannot just fire someone without a justified reason (and no, saving costs is not a justified reason). Such reason are usually: the employee did something illegal (data leaks, sell internal information, etc.) or something related to harassing other employees. Even with bad performance, they cannot just fire you without first giving you the option to "recover".

I don't know Carta at all, but if they had an European branch and if I were an European employee that is being told "you're fired", well, they will have a really hard time doing it.

Re: Carta lays off 10% of the workforce

#17

Post by themitigating »

qaq wrote: post #2

"Visa holders get one 30-minute paid consultation with an immigration attorney" wow

Seriously? Look at their other severance benefits.

Besides if you need an attorney for an immigration case it would be a massive amount of hours. The 30 minutes consultation is helpful to decide if you need to pursue a case.

I can't believe with all they are giving you still had to shit on it somehow.

Re: Carta lays off 10% of the workforce

#18

Post by ageitgey »

m8s wrote: post #11
globalise83 wrote: post #8

I find it strange that the incentives for self-departure are weaker than for non-voluntary departure. Usually it's the other way around, or maybe just where I come from. What's the logic behind incentivising people to not quit?

I was about to ask the same thing. Why would someone leave voluntarily for worse benefits?

If a company over-hired in non-core areas during the last two years because valuations were high, they might want to shed non-core workers that they feel that they don't really "need". But they definitely don't want to lose the best people working on the core business.

The people who take voluntary leave are often the most able to quickly find a new job (i.e. the best people). So it is not in their best interest to incentivize that.

Re: Carta lays off 10% of the workforce

#19

Post by adrr »

For the RSUs. Is there a buy-back program for shares? Taxes on these far out weigh the benefit. Carta with $150m of revenue is not worth over $1B and is closer to $500m if it went public right now. Use other fintechs that went public for comparison like Robinhood, Coinbase, Toast etc.
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