Carta lays off 10% of the workforce

#1

Post by nvdnadj92 » Wed, Jan 11, 2023, 5:24 PM UTC

Just got off company announcement, here are the key details:

   - the departure affected 10% of the company

The benefits include:

   - 2.5 months of severance, plus one week for every year of tenure
   - 3 months of health insurance
   - 1 year cliff for RSUs waived for new employees. In cases where employees did not get equity, they get a lump sum payout
   - Visa holders get one 30-minute paid consultation with an immigration attorney
   - Voluntary self departures accepted until 12PM tomorrow, but self-departures only get 2.5 months (tenure not factored in severance)

Re: Carta lays off 10% of the workforce

#2

Post by qaq » Wed, Jan 11, 2023, 5:35 PM UTC

"Visa holders get one 30-minute paid consultation with an immigration attorney" wow

Re: Carta lays off 10% of the workforce

#3

Post by sithlord » Wed, Jan 11, 2023, 5:37 PM UTC

2.5 months severance is pretty low compared to the other layoffs that have happened recently.

Re: Carta lays off 10% of the workforce

#4

Post by snihalani » Wed, Jan 11, 2023, 5:37 PM UTC

As an immigrant who got laid off this year, I am hating on every company that doesn't offer to keep you on payroll with the severance money

Re: Carta lays off 10% of the workforce

#5

Post by bushbaba » Wed, Jan 11, 2023, 5:38 PM UTC

snihalani wrote: post #4

As an immigrant who got laid off this year, I am hating on every company that doesn't offer to keep you on payroll with the severance money

Legally if you are on payroll but not doing work the visa issue remains. Now will the government actually enforce that who knows. I’m not a lawyer. This is not legal advice.

Re: Carta lays off 10% of the workforce

#6

Post by donsupreme » Wed, Jan 11, 2023, 5:40 PM UTC

sithlord wrote: post #3

2.5 months severance is pretty low compared to the other layoffs that have happened recently.

Elon disagrees

Re: Carta lays off 10% of the workforce

#7

Post by redtriumph » Wed, Jan 11, 2023, 5:42 PM UTC

One of the founder's listed is Manu Kumar who has one of the longest Linkedin profile I've come across:

https://www.linkedin.com/in/sneaker

Re: Carta lays off 10% of the workforce

#8

Post by globalise83 » Wed, Jan 11, 2023, 5:43 PM UTC

I find it strange that the incentives for self-departure are weaker than for non-voluntary departure. Usually it's the other way around, or maybe just where I come from. What's the logic behind incentivising people to not quit?

Re: Carta lays off 10% of the workforce

#9

Post by nvdnadj92 » Wed, Jan 11, 2023, 5:43 PM UTC

qaq wrote: post #2

"Visa holders get one 30-minute paid consultation with an immigration attorney" wow

better than nothing, in my opinion. At least they were considered.

Re: Carta lays off 10% of the workforce

#10

Post by nvdnadj92 » Wed, Jan 11, 2023, 5:44 PM UTC

redtriumph wrote: post #7

One of the founder's listed is Manu Kumar who has one of the longest Linkedin profile I've come across: https://www.linkedin.com/in/sneaker

Been at the company 3 years, this guy Manu was there in the early days, but he is pretty much a ghost since the past 7 years. He's moved on, I think he is a VC now.