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DocuSign to lay off 10% of its workforce, or about 700 employees

cnbc.com

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Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#61

Post by mathverse »

Pet_Ant wrote: post #54
_vbnz wrote: post #39

Earlier quoted context omitted.

As a Europoor it might actually increase our wages at least!

This is the first time I've heard the term "Europoor"... despite being ethnically "Europoor" (living abroad). For those who haven't seen it before, it apparently mean "European, but from one of the poorer European nations, mainly from eastern Europe."

Nope it does not. It's a meme referring to the fact that europeans despite living in rich countries are poor in comparison to exorbitant american tech wages.

Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#62

Post by mathverse »

myth_drannon wrote: post #30
nivenkos wrote: post #23

Earlier quoted context omitted.

Hope the employees form trade unions and workers' councils to help stop this bullshit. Look at DigitalOcean - literally doing "layoffs" whilst shifting hiring to Pakistan: https://www.theregister.com/2023/02/15/digitalocean_layoffs/

That's the price of real remote work culture which started in honest during the pandemic. I'm seeing US based employees replaced by LATAM based one. This is not the outsourcing scare of the 00's, this is real and it works very well.

Outsourcing always existed and was the main driver during 2010-2012 era where a lot of jobs went to offshore. Remote work did not change anything.

Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#63

Post by clavalle »

AngeloAnolin wrote: post #40

I don't quite understand the logic where people being laid off from their positions / responsibilities and the jobs being posted are similar in nature. For one, are you really saving costs when you're losing some individuals with deep knowledge of the job for which you would need to re-train a new individual to come up to the same speed and productivity as with the previous person doing the job? Doesn't this also mak…

I have personally been approached by internal recruiters for a position just after the company very publicly laid off people with my title and are going after 'middle management'.

I declined.

I'm a software architect but I strongly believe that the organization of people is as important as the organization of software. So architects and principals, to be the most effective, should have management authority. Middle management, if done well, makes or breaks mid to large software companies. An organization that doesn't deeply respect that role isn't anywhere I want to be.

Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#64

Post by nebula8804 »

stuckinhell wrote: post #33
ShakataGaNai wrote: post #12

At 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…

A lot of executives are using this opportunity to get rid of people pushing social activism thru the corporation or firm. Social activists at major technology companies have been revealed to be undermining the company or attacking the executive class over unpopular decisions like working with the military (twitter leaks,google, facebook etc. Many boomer and gen x executives were astonished at the level of activism ar…

Any evidence for this? Or is this just your fantasy?

Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#65

Post by clavalle »

fdgsdfogijq wrote: post #7

It'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…

Nothing is more expensive than cheap talent.

Besides, the market is still super tight and shows very few signs of loosening.

What we're seeing is that the old-guard companies have hit their autumn years. But companies being companies autumn could last for decades.

I think we had too much talent dedicated to some of these sectors anyway. There's a lot of interesting problems out there that could use more attention.

Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#66

Post by clavalle »

ianbutler wrote: post #20
fdgsdfogijq wrote: post #7

It'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.

Not only that, software is a unique sector in which a lot of the capital is in the talent.

These companies aren't laying off labor that have few choices. They're budding off knowlegible competetors.

If these folks can't find a well paying job it's a very real option to create a well-performing company.

Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#67

Post by thunky »

oxfordmale wrote: post #43
ShakataGaNai wrote: post #12

At 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…

DocuSign's values: >> You can count on us be honest, open, and do our best to do what’s right, every day. Doing what is right is clearly just about optimising shareholder dividends. Further down: >> And for that, you’ll be loved by us, our customers, and the world in which we live. Love is very fleeting, apparently. Of course, this is all fair game in business. However, companies shouldn't be surprised if many of the…

> companies shouldn't be surprised if many of their staff take a cynic view of their company values

I think it's safe to assume that everyone already knows that "company values" and quotes like the ones you shared are pure PR bullshit.

Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#68

Post by stuckinhell »

nebula8804 wrote: post #64
stuckinhell wrote: post #33

Earlier quoted context omitted.

A lot of executives are using this opportunity to get rid of people pushing social activism thru the corporation or firm. Social activists at major technology companies have been revealed to be undermining the company or attacking the executive class over unpopular decisions like working with the military (twitter leaks,google, facebook etc. Many boomer and gen x executives were astonished at the level of activism ar…

Any evidence for this? Or is this just your fantasy?

https://www.bloomberg.com/news/articles/2023-01-24/tech-layo...

Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#69

Post by s1artibartfast »

nivenkos wrote: post #23
ShakataGaNai wrote: post #12

At 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…

Hope the employees form trade unions and workers' councils to help stop this bullshit. Look at DigitalOcean - literally doing "layoffs" whilst shifting hiring to Pakistan: https://www.theregister.com/2023/02/15/digitalocean_layoffs/

>Look at DigitalOcean - literally doing "layoffs" whilst shifting hiring to Pakistan

This seems completely consistent. Layoffs are intended to save money and Pakistani workers are cheaper.

Re: DocuSign to lay off 10% of its workforce, or about 700 employees

#70

Post by bsder »

rybosworld wrote: post #2

7000+ employees for an app that signs documents?

Enterprise marketing and sales always takes up a LOT of people.

The Enterprise is PROFITABLE. The issue is that normally There Can Be Only One(tm).

The "security" companies like Auth0 were worth gigabucks NOT because they had a superior technical solution but because they managed to crack some number of large customers who now were never going to remove that system and would now be a cash cow forevermore.

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