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Bitpanda said no mass layoffs, three weeks before axing one-third of staff
71–80 of 95 posts
Re: Bitpanda said no mass layoffs, three weeks before axing one-third of staff
#72Every single company is guaranteed to try and assure employees the company's doing okay. Think about it for a second, regardless of if your employer intends to do layoffs or not, the moment people fear for their jobs, they'll spend more time looking for work. I prefer the quick rip the Band-Aid off lay off, give me a bit of severance, let me shake the hands of upper management and we can all move on for our lives
Same with failing crypto coins. As soon as they tell you it'll be ok is the moment they're fire saleing
Re: Bitpanda said no mass layoffs, three weeks before axing one-third of staff
#73Every single company is guaranteed to try and assure employees the company's doing okay. Think about it for a second, regardless of if your employer intends to do layoffs or not, the moment people fear for their jobs, they'll spend more time looking for work. I prefer the quick rip the Band-Aid off lay off, give me a bit of severance, let me shake the hands of upper management and we can all move on for our lives
Yes, lying to people makes them believe things that benefit you more. It also nukes your relationship with them.
Re: Bitpanda said no mass layoffs, three weeks before axing one-third of staff
#74Those turtlenecks. Anyway, the article mentions: > He [chief product officer] said the company was "very well funded" with no liquidity problems. While he noted that its 2022 financial results were "below budget," he said that this had been caused by macroeconomic conditions, including a supply crisis and the Ukraine conflict. The executive urged employees to focus on product and tech infrastructure improvements in p…
Reminds me of the Theranos CEO, Elizabeth Holmes using the same old trick.
Startups that have CEOs with this infatuation with the Steve Jobs turtle neck and jeans look are essentially playing the scammer and are taking part in the delusion or attempting to hypnotise VCs by cargo-culting and re-creating his dark reality distortion spells.
Re: Bitpanda said no mass layoffs, three weeks before axing one-third of staff
#75Every single company is guaranteed to try and assure employees the company's doing okay. Think about it for a second, regardless of if your employer intends to do layoffs or not, the moment people fear for their jobs, they'll spend more time looking for work. I prefer the quick rip the Band-Aid off lay off, give me a bit of severance, let me shake the hands of upper management and we can all move on for our lives
I was in the first wave of a multi-wave lay off recently and after seeing how awful it was for the "survivors" to get RIF'd a couple weeks later, I am glad I was out asap.
Re: Bitpanda said no mass layoffs, three weeks before axing one-third of staff
#76Earlier quoted context omitted.
It's one thing to say, you're struggling, but you think you can make it without layoffs. Or another thing to say your financial models say for the next 90 days you're okay at the moment. Or you're trying to shift money around, or trying to increase revenue, or to say you're looking for funding... If people invest their lives in your company (relocating, working overtime, etc), they deserve the honest truth about what…
> If people invest their lives in your company I think I may see the problem.
What, you mean our system of corporate capitalism that still mostly requires relocating for a job, and incredibly strongly encourages working long hours to "prove yourself" and "get ahead" and whatnot?
Re: Bitpanda said no mass layoffs, three weeks before axing one-third of staff
#77They do that to spread the rumor
Re: Bitpanda said no mass layoffs, three weeks before axing one-third of staff
#78What are the appropriate or possible responses to being publicly asked if you're going to do a layoff, in the case that: (1) you are definitely going to do a layoff (2) you have not yet decided but are considering it (3) you are definitely not doing a layoff In the past, HNers have mentioned that if you admit you're going to lay people off, then your best performers will leave. Is that true? If so, what should compan…
For a public company, you cannot disclose info like this in a casual interview.
The answer is always "no". You won't do layoff.
Not sure if bitpanda is a public company, but it is surprising people don't understand the basics like this.
Re: Bitpanda said no mass layoffs, three weeks before axing one-third of staff
#79Earlier quoted context omitted.
> If people invest their lives in your company I think I may see the problem.
What, you mean our system of corporate capitalism that still mostly requires relocating for a job, and incredibly strongly encourages working long hours to "prove yourself" and "get ahead" and whatnot?
Don't forget the part where medical care for your family is unaffordable unless you have employer provided insurance.
Re: Bitpanda said no mass layoffs, three weeks before axing one-third of staff
#80If your company so as mentions layoffs, even (especially?) if they deny it, they are coming. Just like a Pip, if it gets mentioned, start looking for another job
Bailing early sacrifices some benefits in exchange for you deciding the timing. If you are laid off in much of the US anyway, you are eligible for unemployment in case that's needed. That might help someone with less assets in a protracted dry spell. Also very common, you give up severance pay if you quit. If you can afford some timing risk, IMO it's best to have your scope up and be looking just in case, then wait u…
Yep, rode out a layoff with that plan in mind recently. Took a very long vacation and still had a month or two of double pay - April was the first 5 paycheck month of my life, so that was cool. But on the whole it's pretty stressful waiting to get laid off, can't say I'd recommend it, though in my case it worked out pretty well.