241–250 of 622 posts
That doesn't describe the big tech companies who will certainly suffer greater than 10% lost productivity and opportunity cost and could easily weather a long down trend.
Earlier quoted context omitted.
Any reason to protect them here vs. sharing their name?
Burning bridges who might have been references for subsequent employment is almost never a good idea. There is always a time and place, of course. But generally speaking, you don't speak ill of your (former) employer or even talk about it publically lest there be ramifications beyond your imaginations.
He's not burning bridges if he uses a throwaway, or otherwise doesn't attach his name to his report.
But looking at his comment history, I'm guessing he's talking about Tempo Automation (TMPO).
Earlier quoted context omitted.
Most of them over hired like crazy during the pandemic bubble. I wouldn’t say they were stupid but collectively most of them made a massive mistake. So yeah it isn’t hard to believe for me. I don’t think the layoffs are a stupid decision but I do think the extreme over hiring as if the bubble was a new normal was. Between 2020-2022 I literally conducted over 200 interviews for my previous employer. It was like we cou…
> Between 2020-2022 I literally conducted over 200 interviews for my previous employer. it sounds like you knew at the time that it was a mistake to hire this much and you were part of the interview processes. did you ever speak up, tried to make a case that it is the wrong move?
Pretty similar to the stupid "did you submit a PR?" response to literally any issue with open source software.
Maybe you didn't mean it like that but that's what it sounds like.
Earlier quoted context omitted.
If your plane is gonna crash without dumping some excess weight, killing everyone on board, what do you do? You throw a ton of stuff out of the plane in an effort to continue on. This is what layoffs are. It’s a survival mode tactic. The cost of lower morale is smaller than the cost of complete failure.
but they are all reporting record breaking profits.
and this is just one prominent example.
Earlier quoted context omitted.
My issue with analyses like this is they argue that layoffs are a bad idea and it's just companies shooting themselves in a foot. That's what people want to hear, so it gets a lot of clicks and citations. But, this also means that all the big companies (and that's a lot of them) that just announced layoffs made a obviously bad move. Are they all stupid? I find it hard to believe. It's more plausible, that yeah, layof…
> they make shareholders rich do you realize that for most software engineers at the hi-tech companies, the majority of their compensation is in the form of equity? and at startups, reduced headcount cost gives more runway for the company and hence employment.
But the vast majority of software developers get no or very little equity.
Ok, 7%. With all the cost, I wonder if just stopping hiring and letting normal attrition rate play out would have had almost the same effect.
The fun thing is that their R&D cost is dwarfed by expenses on Sales&Marketing and General&Administrative. So, if I understand their financial statements for 2022FY correctly, a 7% cut on R&D could lower their total expenses by 2% at best https://ir.gitlab.com/news-releases/news-release-details/git... Even cutting their R&D 100% would not make GitLab profitable, if other expenses are kept the same, so economics is cl…
There's not too much detail in that press release.
Thanks for sharing the link to the report!
Earlier quoted context omitted.
The economy is humming along just fine despite all of that.
Many people feel fine right up until the point they get diagnosed with a terminal illness. The point being, this would be like going to the doctor and having high blood pressure, high cholesterol, high blood sugar, etc. etc. The patient can be up, walking around, feeling OK, but in reality they are headed for a nightmare.
Earlier quoted context omitted.
The current macroeconomic environment is tough if you have deeply negative cash-flow (most of tech).
And it is no wonder they have issues when their customer support is hostile. I used to pay for Gitlab but switched to the community edition after having to deal with their support over billing issues. Easier to use the free version than the paid version. Making money does not seem to be a priority.
(e.g. how were people informed, de-provisioning access, laptops/corp asset returns)