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Stripe laying off around 14% of workforce

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Re: Stripe laying off around 14% of workforce

#761
post #690

Earlier quoted context omitted.

16 years. Working at the Senior/Staff level. Most recently Clojure work. I’ve done a lot of Java of course, although I’ve been rejected from some of those jobs because I spent the last year doing Clojure full time instead of Java.

Amperity in Seattle uses Clojure

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Re: Stripe laying off around 14% of workforce

#762
post #756
post #747

Earlier quoted context omitted.

> I feel most decent engineers can get rehired elsewhere with 14 weeks of runway. Oh, sweet summer children and children of recession free economies for IT. If job openings fall to 10-20-30% of current ones and tens, hundreds of thousands of IT workers are fired, good luck getting hired quickly, when any of the few good remaining job opening has hundreds of good applicants. We'll be back to the days of: Sure, you can…

Quoted post unavailable.

I can not understand how your comment relates to the parent in any meaningful way. The tech hiring boom that occurred with Covid was certainly one contributor to over-staffing.

The parent is simply stating that market conditions are changing and that it might not necessarily a given that it will be so easy to find something new if we continue to see layoffs. That all seems pretty logical. However your response seem to be two links that are now a year out of date and a bizarre statement to "Stop believing the bullshit you're being fed"?

Re: Stripe laying off around 14% of workforce

#763

Earlier quoted context omitted.

Amazon and Google are always calling, even now I gets emails from both. Amazon recruiters just spam me. Shoot your shot there if interested

Yeah, did the google interview late this summer and then they froze hiring. Got contacted by a recruiter from google last month. Told him I had already interviewed. He told me I should just wait until the freeze is over and not interview again.

The freeze has been over for weeks. I do an interview every week, and my team has two open roles right now.

Re: Stripe laying off around 14% of workforce

#764
post #677

Earlier quoted context omitted.

I was laid off at the beginning of October and still can’t find anything. It’s definitely a buyer’s market for senior level engineering talent.

Took me ~3-4 months of steady work, but good things are still out there.

> Took me ~3-4 months of steady work

Were you unemployed or working.

Re: Stripe laying off around 14% of workforce

#765

Earlier quoted context omitted.

> Sucks because my manager was only told this morning As a manager I find their really curious. I guess they were trying to avoid leaks. I wonder how they chose who to lay off. Most recent performance rating? Next level managers impression?

When you want to do broad company-wide layoffs, you have to adopt some broad strategies, otherwise it'll be way too much work to find 15% of the company. It's like trying to do surgery with a scalpel when you really need a saw to amputate an arm. Imagine the mechanics if they involved every single low-level manager in decision making. You'd never find 15%. Everyone would justify where a person on their team or their…

My current company did a layoff, not quite 15%, but in that ballpark. They went down as far as the directors and gave them a number. I.e. pick X people to lose. This was in addition to some specific cuts where they axed the entire product and all teams associated with it.

It definitely allowed management to cut a few people that had been on their short list for a while.

Re: Stripe laying off around 14% of workforce

#766
post #747
post #729

Earlier quoted context omitted.

I feel most decent engineers can get rehired elsewhere with 14 weeks of runway. I do agree this is generous af. Most companies just give out minimum severance. No acceleration of vesting. Healthcare continues for maybe 1-2 months. I know at my current company, I will lose all PTO.

> I feel most decent engineers can get rehired elsewhere with 14 weeks of runway. Oh, sweet summer children and children of recession free economies for IT. If job openings fall to 10-20-30% of current ones and tens, hundreds of thousands of IT workers are fired, good luck getting hired quickly, when any of the few good remaining job opening has hundreds of good applicants. We'll be back to the days of: Sure, you can…

Can we please retire this "sweet summer child" thing? It is annoying af, rude, and likely never written by anyone over 30.

Re: Stripe laying off around 14% of workforce

#767
post #690

Earlier quoted context omitted.

What sort of engineer are you and how many years of experience?

16 years. Working at the Senior/Staff level. Most recently Clojure work. I’ve done a lot of Java of course, although I’ve been rejected from some of those jobs because I spent the last year doing Clojure full time instead of Java.

Any company that rejects your 15 years of Java and other language experience because you spent the last year working in a Clojure shop is probably not a good company to work for. And not worthy of you. Think of it as your filter.

Re: Stripe laying off around 14% of workforce

#769
post #105
post #36

I feel bad for employees that have waited a decade to cash out. No reason why Stripe couldn’t have gone public in 2020-2021 at a huge valuation but from past interviews it sounds like the decision to remain private was just a founder preference thing because “focus” or something. Now the IPO market is completely frozen and its valuation is likely cut in half from peak, at least.

The second they go public it triggers a 6-12 months window after which all of their employees can cash out. This will, inexorably lead to an exodus of their most senior peeps, and when it happens, will probably be ground zero for the next gen of fintech startups. Delaying going IPO this way, amongst other things, is about retention.

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Re: Stripe laying off around 14% of workforce

#770
post #747

Earlier quoted context omitted.

> I feel most decent engineers can get rehired elsewhere with 14 weeks of runway. Oh, sweet summer children and children of recession free economies for IT. If job openings fall to 10-20-30% of current ones and tens, hundreds of thousands of IT workers are fired, good luck getting hired quickly, when any of the few good remaining job opening has hundreds of good applicants. We'll be back to the days of: Sure, you can…

Can we please retire this "sweet summer child" thing? It is annoying af, rude, and likely never written by anyone over 30.

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