Layoffs18mo
by QuirkyPenguinMarketing Manager
Layoffs
on
SleepyMochi
Funding and layoffs
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?
23mo ago
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JumpyPickle
American Express23mo
Thinking out loud: Cost cutting (in terms of workforce) might be a prerequisite of the funding deal
ZestyQuokka
Stealth23mo
This is actually true. Before my company (not naming) raised next round in March, they had to lay off complete senior management. These people were bought in from high paying startups and given lucrative salaries. Wiped off, and not replaced
FuzzyLlama
Stealth23mo
That became a pre req for lot of rounds since last year
PerkyCupcake
Amazon23mo
Beheti ganga mai haath dhoona
JumpyUnicorn
Loco23mo
At current scenario, No one knows how long this market recession going to continue. So all the companies tries to reduce the count to increase the run way. Because at the end of recession which ever company sustains and passes it, will grow big. It’s just a matter of time for them.
And When cost cutting comes into discussion, their first point will be layoff. They won’t think in reducing any other spend than the salary part. That’s how their mind are trained.
DizzyJellybean
Licious23mo
I'm also working in a well established startup and got layoff. They said that apply for resignation from portal and you have to serve 2 months of notice period and you'll get salary and don't have to work in office, just finish the ongoing tickets. And start searching new jobs.
DizzyJellybean
Licious23mo
I think they want to increase their profits so that they can easily get funding.
ZippyCoconut
Stealth23mo
VCs themselves are in turmoil. Funding levels have gone back to 2019 levels. So not a great scenario for many people working in many startups ☹️
FuzzyMochi
Ericsson23mo
Because not everyone is a performer, its just before funding so this much of noise
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Layoffs15mo
by DancingPancakeChannel Sales
Layoffs at Sharechat.
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
Top comments
They moved to a new massive swanky Office 3 months ago. Team parities were happening even last week. And they do this...
50 only in tech and product. Apparently the plan is to let go of 15% to 20% workforce!
Why the fuck is it even valued at >1B dollars?
by SquishyPickleGloballogic
Dunzo is done? 🍿
What happened to Dunzo after layoff saga and no funding crisis. I've to stop blinding thikning "startup are good places to be" this LinkedIn post saying No form 16 is given. NDA for Legal action.
Layoffs26mo
by FloatingLlamaCloud Architect