Layoffs Community

by TaylorSwift

9 months ago

Loop is unhealthy!

A company called loop health started allowing remote work and hiring in early 2022 soon after receiving $25 million dollars investment. Founders are a great pair in the initial but as soon after investment of series A , difference broke out and one of the co-founders left the company in the name of sabbatical from backdoor out. He was visionary and had great product sense which the CEO got jealous of and stopped him at all the cost of investors recognising him. Anyway now the real unhealthy thing is not this story but due to this product the scope got messed up and customers started complaining and renewals badly hit to 60-80%. The competitor got them easily , one of the sales people said on call at a loop that loop company customers are easy to catch for competitors. Now the real story is, the CEO wanted only the Pune office to survive and all remote employees to leave so he did a little magic ✨. Instead of laying off people, strategically not compensating anyone started layoff from the beginning of the 2023 this year by asking each outsider to resign and leave. The strategy was simple, Find weakness and make them accept simple mistakes as well and ask them to resign. At the same time, hire contractors at Pune to join and work. If any employee is strong or doesn't want to leave then make them contract employees and expect work in the same way. This is not at all acceptable and the CEO is not alone on this. CEO, CTO , CPO involved plan. The problem with this approach is unfair practices, if someone makes a mistake they won't give any PIP plan. They just fire them in easy ways to resign. CEO proudly says he wants great tennis 🎾 team but infact ceo is just a ball boy.

BusyChurn67

Capgemini

9 months ago

Thank God I didn't attend their interview. Got a call but said no. My instinct was right, something seemed fishy about this company

RashDwell23

Salesforce

9 months ago

Same here, I was thinking about interviewing as they were hiring and were remote. Glassdoor reviews seemed good that time. But I was having bad feeling about the company. So didn't go ahead.

TaylorSwift

Amazon

9 months ago

Glassdoor reviews are made up and HR sends out a dm to everyone to give a review and follow up till they do it.

BusyBeanie68

Stealth

9 months ago

A friend interviewed for a product position and the CEO basically said he doesn't believe in product managers but he's hiring anyways. What arrogance!

Toastie

Stealth

9 months ago

He is obsessed with the idea that PMs are useless. He basically wakes up, reads twitter in the morning and then decides company strategy and values based on what is trending. Totally inexperienced guy. Heard this from multiple people at the org.

GiftedTaste

Others

9 months ago

How come they raised series B? I've seen this archetype before

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Bumpy_Stock

Stealth

9 months ago

Ball boy 🤣

GoldenHandcuff

Amazon

9 months ago

Story of every other company who raised their series A/B, preseed back in 2021/2022

quattroformaggi

Startup

9 months ago

Can vouch for this - I work here lol

Toastie

Stealth

9 months ago

Super shitty place, surprised this hasn't been said on Grapevine sooner. And the worst part is that there are still some amazing employees at the company. I guess the CEO wants to get rid of everyone who doesn't follow exactly what he wants

GiftedTaste

Others

9 months ago

Do you work there?

Toastie

Stealth

9 months ago

Nah, my close friend used to work there

Bazuka

Zoomin

9 months ago

I had very strange experience. I was interviewed for the role of VP- Sales and I was surprised to see that this cofounder didn’t even turn on the camera. I left the interview midway .

Brutallyhonest

Stealth

9 months ago

They have multiple sales team already. Wonder why they want to hire more

Bazuka

Zoomin

9 months ago

I had spoken to him for this role a year back not recently

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Indusplateau

Stealth

9 months ago

Typical punekar attitude. Puri duniya works around pune

Brutallyhonest

Stealth

9 months ago

Tell me more

Gohan_goku

Stealth

9 months ago

I'm glad to have not joined this company. Had got an offer for city head delhi.

Damaru

Stealth

9 months ago

I was almost about to join them , damn every business in India sucks in terms of culture or corporate governance

GiftedTaste

Others

9 months ago

I also felt something is fishy here. A lot of their recently hired senior management has left the firm.

Olauber

Startup

9 months ago

They are tripping & looping

TaylorSwift

Amazon

9 months ago

The latest update is that they have been given an ultimatum to all employees to work from the Pune office from Feb 1. Also pay cut for remote employees which in turn justifies only one thing is leave the company for remote employees. Unethical company doesn't deserve any authority to hold the wellness programme of other companies.

DankyDankDonkey

Google

9 months ago

Is this Loop AI?

RashDwell23

Salesforce

9 months ago

No it's this https://www.linkedin.com/company/loop-health/

FunnyBones

Plivo

9 months ago

We live in strange and unethical times

Loner

Stealth

9 months ago

Interviewed for a product role some months back here. There idiots, in the last round, told me to get on a call for salary compensation and then told me that it's not going to be remote anymore(it was mentioned on the job listing) and when I resisted the same, told me that they hired someone else.

Commissioner_Gordon

Stealth

9 months ago

I was on a call with a friend of mine who works in Loop when the news of the CTO going on a sabbatical broke out in their internal groups. He said now that the CTO is out, Loop is fucked. My friend has already started looking for a job.

Brutallyhonest

Stealth

9 months ago

@TaylorSwift tell me more about their Bengaluru team

DiscreteProject

Google

2 months ago

Loop Health is a Corporate Shithole!!!! I worked at this company for 2.5 years, and I don't even know why I stayed after the first six months. The recession made me stick around, but this place is a complete nightmare. During COVID, they got some investment and thought they were going to blow up. Instead of hiring then, they overworked everyone. When the recession hit, they started hiring like crazy in 2022 because they knew they could hire people for less money. They hired a ton of people at rock-bottom wages. By 2023, investors were skeptical to invest more, they realized they were running out of investor money, so they started laying people off. But not in a straightforward way. They asked them to resign so they wouldn't have to pay severance. Real classy. These Maha Chindi folks wouldn’t pay you for shit. The pay was so low, it was insulting. Way below market rate. They’d make excuses like, "Oh, it's because you're from this college, not an esteemed one," and then would go ahead and pay interns more than the full-timers. The co-founder, was just as bad as the founder, CEO, and other top brass. He was involved in the same unethical practices when he was there. He was fully aware of what he was doing. Office politics are beyond anything I've seen. I’ve seen brilliant people who had excelled at their past jobs lose confidence. I’ve seen people with great confidence in their job would get fired. I’ve seen amazing people leave big corporations to work at this hellhole, only to later find they’re fucked. Every day, you wonder if you're getting fired. They’d fire the best people just because their ideas didn’t align with the co-founder and the CEO. The work culture is horrible. It was my first job, and now I have PTSD. I'd rather work for less money in a healthy environment than go through this again, not that they were paying bomb anyways. Bottom line: if you value your sanity, stay away from this place. It's a toxic hellhole, and I wouldn't wish it on anyone.

luffy278

Seed Stage Startup

7 months ago

Any thoughts on the tech team? I am currently involved in the hiring process for a Frontend Dev role there.