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Yelp lays off 1000, furloughs 1100

blog.yelp.com

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Re: Yelp lays off 1000, furloughs 1100

#21

Post by daxorid »

ransom1538 wrote: post #4

Off topic: Can anyone explain why the dow jones is going up? The dow was LOWER Jan 1st 2019. I feel we are worse off than Jan 1st 2019.

The Federal Reserve is printing $90B per day (on average) in open-ended QE. This liquidity is used to take agency paper and treasuries off the hands of primary dealers and hedge funds. In turn, the managers of these organizations refuse to sit on cash, so they grab other assets. Some (large) percentage of these assets will be equities.

Anecdotally, retail investors also appear to be buying the dip in volume, though we need more recent fund flows data to see if reality reflects anecdotes.

Re: Yelp lays off 1000, furloughs 1100

#23

Post by BozeWolf »

ransom1538 wrote: post #4

Off topic: Can anyone explain why the dow jones is going up? The dow was LOWER Jan 1st 2019. I feel we are worse off than Jan 1st 2019.

It has been like this for days. Super weird, of course there are explanations, i am just not sure if they are correct.

So apparently the fed announced more financial measures. Which might cause some optimism. Also rumour has it there is a chance that the oil 'crisis' will be solved.

Also investors might be short sighted and think this will only take a few months. Who knows.

To me it feels totally incorrect, reading all the other news would mean stocks should go down. This crisis is a bit different though, it is not a financial crisis, which takes a while until it hits the real economy. I think nobody is entirely sure what is happening.

Re: Yelp lays off 1000, furloughs 1100

#25

Post by PunchTornado »

Waterluvian wrote: post #5

I know this is a very tired topic, but does anyone have any good blog posts or articles about "what exactly is it that you all do?" Yelp having 6000 employees. I'm not surprised, I'm not mad. I just want to understand.

a lot of them in sales, going from restaurant to restaurant and convincing them to buy yelp products.

Re: Yelp lays off 1000, furloughs 1100

#27

Post by jstanley »

scurvy wrote: post #15
Waterluvian wrote: post #5

I know this is a very tired topic, but does anyone have any good blog posts or articles about "what exactly is it that you all do?" Yelp having 6000 employees. I'm not surprised, I'm not mad. I just want to understand.

Sales and account management are easier to hire and fire. That said I bet some engineers were let go. If you're not directly client facing or related to e-commerce, you're not essential right now.

But aren't sales and account management precisely the people who are client-facing or related to e-commerce?

Re: Yelp lays off 1000, furloughs 1100

#28

Post by ShorsHammer »

ransom1538 wrote: post #4

Off topic: Can anyone explain why the dow jones is going up? The dow was LOWER Jan 1st 2019. I feel we are worse off than Jan 1st 2019.

Assets aren't worth more, money is now dramatically worth less.

You measure one with the other.

Here's a long term graph of the Feds balance sheet: https://www.ft.com/content/ec10b41a-84af-4e44-ad3f-5bb86b6e1...

Here's the Australian Central Bank's current balance sheet: https://i.redd.it/h7bdffj8gqr41.png

This is playing out across the planet and will likely have the same market distorting effects as a decade ago.

Re: Yelp lays off 1000, furloughs 1100

#29

Post by CPLX »

ransom1538 wrote: post #4

Off topic: Can anyone explain why the dow jones is going up? The dow was LOWER Jan 1st 2019. I feel we are worse off than Jan 1st 2019.

Probably because this crisis will consolidate corporate power in the hands of big business.

The divide between big and small business in this scenario is stark. For companies that have access to bond markets and the stock market massive amounts of cash are being deployed to prop things up.

Small businesses are in complete free fall, with a non-functional short term confusing payroll assistance loan plan that has yet to lend to anyone in effect.

The writing is very clearly on the wall. Hundreds of thousands of small businesses will fail, and that will further tip market share towards larger companies, conglomerates, chains, and similar.

When you invest in the stock market you are investing in those larger businesses.

Re: Yelp lays off 1000, furloughs 1100

#30

Post by crimsonalucard »

scurvy wrote: post #15
Waterluvian wrote: post #5

I know this is a very tired topic, but does anyone have any good blog posts or articles about "what exactly is it that you all do?" Yelp having 6000 employees. I'm not surprised, I'm not mad. I just want to understand.

Sales and account management are easier to hire and fire. That said I bet some engineers were let go. If you're not directly client facing or related to e-commerce, you're not essential right now.

Execs are even easier to fire as they are the furthest away from the front lines, but they're the ones doing the firing so too bad for everyone else.
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