Mega Thread- All tech layoffs so far
Layoffs: Global - Stripe 14% - Opendoor 18% - Twitter 50% - Delivery hero - Chime 12% India - Udaan (tranches) - Chargebee 10% - Byjus 5% Hiring freeze: - Apple - Amazon
TBH Amazon looks strong right now but unfortunately the hiring freeze needs to be put in place to show better profitability. Just the reality of the market.
Lyft also fired around 13%, Opendoor about 18%, Booking.com laid off 200+ folks, and dukaan fired around 23 folks
If you are going to fire people any way, you should do it the way Stripe did. Every employee who got fired got: - 14 weeks of severance pay, 2022 bonus in full, Unused PTO pay, 6 months' worth of healthcare, Expedited RSU vesting, Career support
saasyqwn
Stealth
2 years ago
Ah yes, loved the email the CEO sent too. So thoughtful, genuine, and humane.
I think profitable Indian gaming companies will be a pretty stable vertical like Games24.
How do gaming companies earn? Would like to understand the profitable business model. Inputs are welcomed :)
Twitter 50% seems extremely crazy. There's no way they have done this in a well planned way so soon under the new regime!
Will share more
What about all the web3/crypto companies? How are they going to survive the winter?
100s of not so famous startups from Blr, NCR, and Mumbai have shut shops. No one is even talking about it. And the severance in such companies is next to NIL. We need strong labor laws
Can you share the names? We need to have a list to track those. And give a better flying fuck
Mowgli
Stealth
2 years ago
Strong labour laws under this government? They just made them weaker during Covid
Multiple layoffs at Oracle, started in August.
Impacted teams are CX and now OCI.
mjDev
Stealth
2 years ago
Isn’t oracle highly profitable company? Did they do fire because everyone all round were firing
Profitability has nothing to do with firing. Good company will run lean. Unless you are MSFT or Google
Small startups are hiring people with high ctc and terminating the contract after couple of months once the project is over!
High ctc attracts talent but they are playing a game with people!
Byjus layoffs are way larger I know multiple teams which were cut down by 70%
Reports now that Meta is planning massive layoffs this week. This is scary stuff.
FinTech_AdGuy
Student
2 years ago
All companies laying off can now just say Elon did it and it was cool so we will also do it.
SonyTark
Stealth
2 years ago
Browserstack laid off 5% of their staff
Doctorstrange
Stealth
2 years ago
Delivery hero impact was around 100 folks only.