Why are the majority of these layoffs around the 10% mark?
DocuSign to lay off 10% of its workforce, or about 700 employees
11–20 of 81 posts
Re: DocuSign to lay off 10% of its workforce, or about 700 employees
#12At first it seemed like the layoffs were legitimately needed by some companies. But now it feels like "this is a good time" is the reason du jour. An excuse to cut some projects that haven't panned out, dump a bunch of lower performers, and general other cleanup.
DocuSign may have laid-off 700 people, but they have 162 open jobs and most of those list "multiple locations" which probably means they will hire more than one of each role. I noticed the same at Okta's layoff, 300 people cut... but at least a hundred open jobs.
And yes, some of this is "rebalancing". Turns out not everything is staying the same after the pandemic shifts to endemic mode. Maybe not all those sales staff (or whatever projects) are still needed. But it still feels like a lot of this is "lets boost the stock value" based logic.
Re: DocuSign to lay off 10% of its workforce, or about 700 employees
#13Digital document signing company needing 7,000 employees. Why? The market still has room to go down, taking the 'tech' bubble with it.
You'd also be floored by how terrible their support is. I had to send three emails to get a sales rep to finally respond to a question (i'm an enterprise customer)
Out of curiosity, have you explored alternatives? I'm curious how sticky these relationships are.
Re: DocuSign to lay off 10% of its workforce, or about 700 employees
#14Why are the majority of these layoffs around the 10% mark?
Good question. Best guess: Everybody else is firing 10% of staff, so fewer questions asked.
Re: DocuSign to lay off 10% of its workforce, or about 700 employees
#15I feel bad for the people being laid off, but I'm floored by the size of these companies. I know there are always lots of people in sales & support, and some "overhead" positions, and you multiply by some factor for an international presence. But still... even with all that... for the services DocSign provides... how can they possibly need over 7000 people?
Sales and marketing. Docusign has a good sales org that stands out from its competitors.
Re: DocuSign to lay off 10% of its workforce, or about 700 employees
#16It's going to take a long time for tech compensation to recover. Even if the stock market recovers, the wages will be lower. All the laid off employees will take low compensation somewhere. Every time a good opportunity opens up (1+ year from now), all these low comp people will jump at it, suppressing the wage of that job. Hard to imagine how long it will take for that effect to disappear, need a stock market boom o…
What makes you think that it will recover at all? :)
Re: DocuSign to lay off 10% of its workforce, or about 700 employees
#177000+ employees for an app that signs documents?
That's a bit of an oversimplification to be fair. They offer multiple products (esignature, contract lifecycle management). Does not change that it's still a lot of employees.
Re: DocuSign to lay off 10% of its workforce, or about 700 employees
#18I feel bad for the people being laid off, but I'm floored by the size of these companies. I know there are always lots of people in sales & support, and some "overhead" positions, and you multiply by some factor for an international presence. But still... even with all that... for the services DocSign provides... how can they possibly need over 7000 people?
If you were a docusign top manager, would you rather be a humble manager in a corner office with a few reports, or a transformative SVP boldly leading an army of 7000 people into the era of AI technologies?
Re: DocuSign to lay off 10% of its workforce, or about 700 employees
#19Why are the majority of these layoffs around the 10% mark?
It’s generally accepted sacrifice to the volcano gods. It’s pretty hard to fuck up the company with a 10% cut, and the investors like it.
Re: DocuSign to lay off 10% of its workforce, or about 700 employees
#20It's going to take a long time for tech compensation to recover. Even if the stock market recovers, the wages will be lower. All the laid off employees will take low compensation somewhere. Every time a good opportunity opens up (1+ year from now), all these low comp people will jump at it, suppressing the wage of that job. Hard to imagine how long it will take for that effect to disappear, need a stock market boom o…
Yeah I don't see it. If you're just counting developers there has been less than 10% of the total us developer workforce laid off to date since 2022. This just seems like wishful thinking on the part of business owners. Sorry folks we still cost a premium.