(Co)founders laid-off

I heard that even VCs like Sequoia and Matrix Venture Partners are laying off people Sequoia has laid off 3 Analysts, 1 VP and 1 associate and Matrix has laid off 5-6 people Any thoughts? Is it true? #layoffs

Hi , this post is intended to be a disclaimer to anyone who is planning to join Yubi. A lot of things are happening here that show some signs of an impending layoff 1) Several senior folks in tech and product have quit. Also there is no replacement hiring planned for them. Several projects are also getting shelved as a result. 2) there were several open roles a few weeks back and almost all of them are on hold as of now across all depts( tech , business , ops) 3) rampant cost cutting. The lunch options have been reduced to just 1 dal , 1 veg , rice and chapati. Snacks have been removed too. Because of several folks quitting in less than 6 months and no replacement hiring , load has increased tremendously on existing members who are themselves trying to leave. People have serious doubts on whether any hike or bonus will be given or not this year.

Being an investor in equity markets, i was aware of the fact that US market will crash as the free money by fed draws back. I obviously was not able to link this up with the funding dry-ness. I still expect a founder to be aware of these economic events. I am curious how could the management decide to go for hiring employees only to lay them off a year later. If you are a founder, would be happy to know the other side of the story.

Why do some startups lay off people even when they know that they'll be raising money soon via new funding? Case in point: Dunzo Are these employees given severance? Or is it just that Hi, Hello, Today is your last day, thank you, bye that you see most startups do? What are your thoughts on this?

After Unicorns now it's VCs 😁 Any idea whether this happened in India as well for their new entity ? https://www.forbes.com/sites/kenrickcai/2023/07/24/sequoia-talent-team-layoffs-firm-restructuring/?sh=5d3a78d925f4

Layoffs are happening at Sharechat starting today. Each division is being asked to join a call and they are being announced. First call with product org - around 50 folks were impacted

Had this thought since long back, but there's one common pattern I have witnessed. Since the Twitter layoffs, all the companies out there (including FAANG/MAANG) have joined with the layoffs trend. What's surprising is that most of these companies have had a great financial year and made profits in billions. Recession is a time when markets go down and companies can't retain their customers due to economic or socio-political issues. So the current situation has made me question whether the layoffs are actually due to this fancy term called 'Recession', which most of the tech influencers out there are preaching and selling thier courses with (shame on them for doing so during these times) or is it actually the VC's control over the companies which is making the CEO's take such decisions? All things aside, My heart goes out with people who have been impacted by layoffs. Don't forget that there is a thin line between being laid off and being fired, so don't lose your confidence and look out for new opportunities and sell yourself in the market. Never forget, no matter how the market conditions are, if you are skilled and good at what you do jobs will always find you. Stay Positive and be strong!

How’s the job market scenario in India? Not getting any calls from recruiters despite having a decent profile and good pedigree colleges? Any comments from HR professionals or recruiters would be insightful. Would like to know what firms (big, small, startups, MNCs) are thinking about recruiting.