Myntra laying off using PIP

Such a dull Saturday! Please share something interesting

Hey guys Name the companies doing PIP so that people can know which companies are doing PIPs. For layoff, PIP data you can refer https://www.officepulse.live

PIP on the raise at Swiggy, saw couple of post with good fellas leaving. can someone confirm or deny this fact that PIP is used a weapon to downsize the teams in order to show profit for upcoming IPO next year?

Happened last week. Navi does this half-yearly if not quarterly. Supposed to be performance based but systems and checks are not in place to assure the process is unbiased. Myntra - not an organisation which does layoffs much. Please shed some light.

Heard that Paytm is planning to layoff 10% of entire work force. Across all levels. Heard cases that folks who were hired at market premium less than 30 days ago are now being asked to leave the organisation. And the layoffs will be hidden under the guise of mid year appraisals. #PaytmKaro

https://m.economictimes.com/prime/technology-and-startups/inside-flipkarts-downsizing-drive-layoffs-meagre-pay-hikes-more-pips/primearticleshow/98342831.cms

I used to work in a start up in Bangalore, they overhired in 2022 and overpaid the freshers, more than the experienced engineers were getting paid. To fix this put 30% of workforce on pip, laid off 20% I was one of them. 2 months later, they did open layoffs, did it again in 2 months, and one of my friends there heard the founders cracking a laugh that even the investors wouldn't have expected us to do this so fast. I joined another company, they lost the client I was hired for, and few more clients, I was told they will have to do layoffs and my name is in the list. So they asked me to resign and I refused by saying we'll consider a last working day, if I get an offer I'll resign otherwise anyway I'll have to be laid off and they agreed. This happened one month after I had joined this company ( also a startup ). So, being laid off once was already a big enough punch of reality, with an education loan on my head. I joined another company and got laid off again. Tough shit. I ended up getting an offer before my lwd. I am not from any IIT, I am not an exceptional engineer. I am very bad interviews, my resume usually doesn't get shortlisted. Sheer volume of effort I put made the impact on me getting a job. Right now I am the best job of my career, with a better management. Trying to say, it's a tough time. But you'll get through it.

I've been sensing some uncertainty at my workplace, and it's making me think about preparing for the possibility of layoffs. 1. How does one manage uncertainty before a layoff, and what should be the mindset? 2. What practical steps do you take financially ? Any insights on budgeting? 3. In a job transition, how do you proactively develop skills while managing work I would like to hear your thoughts and advice on how to be well-prepared mentally, financially, and skill-wise for possiblity of layoffs

The world economy as we know is stabilizing but its just the US economy that is stabilizing there is a real cash crunch happening at most startups and its effect have started from the last week One of the companies in which my friend is working Spyne.ai layed off closed to 20-30 folks across various departments tech, marketing, sales , product, hr and ai their total workforce is around 80 employees Insider news also states they even fired their chief of product, and its becoming tough to sustain, they even gave esops to employees on a valuation they havent achieved yet during appraisal season It was a forced resignation, 2 3 folks were even said leave we wont be giving you any severance. Yesterday even recieved news off layoffs inside TCS(US), myntra and navi Even hearing news from zs and paytm that they might start a fresh round of layoffs