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Layoffs at Block

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Re: Layoffs at Block

#771

Post by wiseowise »

drstewart wrote: post #731
input_sh wrote: post #671

Earlier quoted context omitted.

I can, easily. Speaking for my country and assuming you are not on a fixed-term contract, you can only get fired for one of the three reasons: 1. Company's in financial trouble and forced to downsize. 2. The position becomes obsolete and there's no option to transition you into some other role. In this case, the company can't hire anyone with a similar-enough skillset to yours for at least a year (or maybe even longe…

>Speaking for my country I like how none of you ever reveal this mysterious country you're from, probably so you don't get called on the claims you're making. Anyway, in my country unemployment is 0% and everyone is rich and there are no problems. Why can't your country achieve the same?

It takes a couple of minutes to find a country with the same laws via Google. Takes a second for LLM.

Re: Layoffs at Block

#772

Post by wiseowise »

pembrook wrote: post #537
torben-friis wrote: post #120

>we're not making this decision because we're in trouble. our business is strong. gross profit continues to grow, we continue to serve more and more customers, and profitability is improving. In my country, this action would be literally illegal. Even in countries where it isn’t, it feels highly immoral. “I’m not in any kind of pressure to do this but I’m choosing to shed the people who created my wealth for greater…

This is also why your countries social welfare systems are teetering on fiscal insolvency and deficits are ballooning. Your inefficient and non-competitive private sector isn't growing fast enough to fund your growing demand for free stuff in the public sector. Maybe if companies and entrepreneurs were allowed to shift more rapidly to meet market demand your legacy giants (and social welfare meal ticket) wouldn't be…

I'll take teetering on fiscal insolvency over one trip to ER makes you bankrupt and in debt for life if you don't have insurance, thank you.

Re: Layoffs at Block

#774

Post by fernandotakai »

VirusNewbie wrote: post #355
borroka wrote: post #237

Earlier quoted context omitted.

One needs to tease apart the effects of Musk and Musk's "policies" on advertising investments, number of users, the boom and slow decline of social media platforms (see Facebook, Instagram coming down from their peak, TikTok gaining ground, but people seem to be already tired of it and waiting for something new) and the technical/technological part of the enterprise. I don't like layoffs, in particular when I am the…

Are you not paying attention? X has gotten waaaay worse. It regularly doesn't load, notifications break, and more.

i've been using twitter/x since 2007 and it has not gotten way worse -- specially if you try comparing to truly bad era of the #failwhale.

Re: Layoffs at Block

#775

Post by intexpress »

So... XYZ stock hits an all time low and they decide to layoff half the staff and see if that raises the share price (it did).

This has nothing to do with AI. It is just a desperate move from a badly run company.

Re: Layoffs at Block

#776

Post by re-thc »

DebtDeflation wrote: post #694
tombert wrote: post #270

Earlier quoted context omitted.

I'm convinced that these "AI Layoffs" are these companies trying to save face from the absurd overhiring that they did in 2022 and 2023 because apparently they thought that these no-interest loans/free money would just last forever. No one really "knows" how to grow businesses so the easiest way to spend a lot of money quickly is hiring lots of people, whether or not they are "necessary". Then this free money dries u…

> the absurd overhiring that they did in 2022 and 2023 The overhiring took place from mid 2020 through mid 2022. The reversal into layoffs started in late 2022 and was in full swing in 2023. While the overhiring problem was real, the correction was largely complete over a year ago. The layoffs we're seeing today have nothing to do with overhiring and everything to do with managing earnings to sustain equity valuation…

> the correction was largely complete over a year ago

We had tariffs and other disruptions since. So more correction is required.

Re: Layoffs at Block

#777

Post by themafia »

daxfohl wrote: post #48

We'll see how much the AI aspect is true by whether they're thinning out teams equally, or just axing whole initiatives. My impression of Block was that it was mostly a one-trick pony (okay, two if you include CashApp) with a bunch of side initiatives that never seemed to pan out, so I'm expecting it to be more of the latter, with this being more of an admission that they're now in "maintenance mode". Either way, I t…

> towards a future where they can build their own features directly, composed of our capabilities and served through our interfaces. that's what i'm focused on now. expect a note from me tomorrow.

These people are deranged or are flat out liars. Customers building "features directly." Yet somehow still trapped inside their walled garden? I wonder why they imagine they can cannibalize their legs but pretend they can save their arms in the long run.

They either believe they can have it both ways or they're simply milking a hot market right now and know one shoe or the other has to drop.

Re: Layoffs at Block

#778

Post by pavlov »

intexpress wrote: post #775

So... XYZ stock hits an all time low and they decide to layoff half the staff and see if that raises the share price (it did). This has nothing to do with AI. It is just a desperate move from a badly run company.

They really changed the stock ticker to XYZ during the web3 hype years, just because lot of the scammy crypto startups used the .xyz TLD? Sheesh...

That's like Atlassian changing its ticker to "VIBE" in desperation. Look kids, we're so in tune with you! Please come vibe on Jira!

Re: Layoffs at Block

#779

Post by epolanski »

tombert wrote: post #285
Swizec wrote: post #36

Earlier quoted context omitted.

> Nice severance; but in this job market, holy shit. I just talked to a bunch of recruiters (we're hiring) and their main piece of advice was: The market is crazy. Move fast . We're seeing people getting jobs within days of starting to look, bailing on offers after signing because they got a better offer somewhere else, etc. 24 hours is the longest you can leave a candidate waiting. You have been warned edit: I am in…

I'm in NYC which I think has similar demographics to SF in this regard; I found my job in August of last year, after about five months of searching, and I found it because a friend of mine referred me. It's a good job, and I like it, I'm grateful for that friend. Regardless, it's not like that was the only job I applied to. I had a policy of applying to at least ten jobs a day, so I applied to about ~1500 jobs, and l…

NYC population dropped by almost half a million since 2020.

Re: Layoffs at Block

#780

Post by pavlov »

noname120 wrote: post #759
coffeebeqn wrote: post #624

Earlier quoted context omitted.

Also if you put a product in maintenance mode you can easily get away with a fraction of your devs. Most people are at all times working on some definition of something new

X is the exact opposite of in “maintenance mode” by any counts

Really? Has it meaningfully changed since 2022? Everything they promised like payments and a "super app" seems to have fallen by the wayside.
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