SleepyCupcake
SleepyCupcake

Rant on the layoffs

I have been through ups and downs in IT, but these layoffs seem crazy. There is just no pattern to it, more like everyone is firing let me fire.

Honestly I feel its high time Tech companies, Startups take a hard look at their business and revenue model. Most just seem to be in a herd mentality. Every one is mass hiring, let me also mass hire. Every one is giving exorbitant salaries, let me also give.

Its become more a cycle now, hire in large numbers, find there is no work to give, no revenue to sustain, and so mass fire again. This just cant be going on.

Who makes mistakes that results in revenue loss or crunch?

Top management

Who gets fired ?

Every one except the ones who are responsible.

Dont fucking give me the reasoning that you are doing this for efficiency and streamlining.

No you are just doing it to protect your own arse, while making scapegoats of others.

So the Musks, Pichais, Zuckerbergs happily take fat bonuses, while drafting teary regret letters for firing. And they are supposed to be our role models to look up to?

Enough is enough IT industry can't forever be running in this same mode. These hire and fire cycles are getting weary nowadays.

19mo ago
WigglySushi
WigglySushi
InMobi19mo

Blame the FED and 0% interest rate era, you could borrow forever and expand infinitely.

Music stopped, party is over, most of the companies are having a hangover rn, some are puking and the worst thing is no more free alcohol

JumpyUnicorn
JumpyUnicorn

exactly 💯 Indian IT industry FED ke feke huye tukdon pe jiti hain

FloatingJellybean
FloatingJellybean

Why do you have a blue check?

WigglyBanana
WigglyBanana

While I don’t support what’s happening in the industry, there are definitely layers to it

Structurally startups are funded to grow at supernormal rates, and as a function of it hiring will always be sudden and can later lead to over capacity. Founders hire for the positive future they imagine, and sometimes that falls short.

That said, in India it’s clearly extremely irresponsible and has crossed the above limits.

When I join a startup, I know that I don’t have the most secure job, but I also want empathetic and sensible leadership.

SquishyNarwhal
SquishyNarwhal
Zepto19mo

Congratulations you've discovered capitalism

PrancingHamster
PrancingHamster

Don't bring capitalism into everything

SquishyNarwhal
SquishyNarwhal
Zepto19mo

My man, I won't. But that doesn't change the reality of it all around us. You can't tell a fish to ignore water.

CosmicDumpling
CosmicDumpling
InMobi19mo

The cycle is indeed frustrating. But how is it possible for a company to not hire according to it?

If salaries are increasing because the supply of engineers is low, no company can pretend to live like it's 2005 and pay engineers just 2 LPA.

SillyPancake
SillyPancake

If you’re looking for a short answer, it comes from the CFOs. Now you know

BouncyLlama
BouncyLlama

Humans when they discover capitalism

JumpyUnicorn
JumpyUnicorn

🤣🤣🤣

ZestyBiscuit
ZestyBiscuit

Still people run toward it 🤷🏻‍♂️

QuirkyMarshmallow
QuirkyMarshmallow

This is nothing what we have witnessed... Ask people who saw 2001 and 2008...every day that you go to your office can be your last....everyday your startup can fold or your business unit dissolved or project scrapped. Prospective brides in matrimonial sites would reject Software Engineers (No joking)

The system is designed to go up or down in a exponential manner except going down is accelerated in time. When I mentioned about people compounding salaries are going to get your fired, I got a lot of abuse.

A lot of people think in a few month everything will be back to normal. Time to find out the truth. I will return the favor to my abusers in every channel, every thread

GigglyNarwhal
GigglyNarwhal

For the later part, its internet. People have gotten used to saying the most inhuman things and face no consequences. Doesn't mean civilized people like you and me droop down to their level.

QuirkyMarshmallow
QuirkyMarshmallow

I have already shown my middle finger in LinkedIn for a referral from ex-team who earlier called me non-ambitious after learning skills from me and have already framed personalized responses to others when they are going to be laid off (bootlicking takes you only so far and I know their skills) and write about it empathetetically in LinkedIn and some threads in grapevine calling me a loser (without knowing what I get paid)

Returning the favor is the most satisfying when the situation is red hot 🔥... Call me narcissist but being nice just does not cut today...

GroovyJellybean
GroovyJellybean

You are acting as if you are entitled to a job, you are not. I agree management gets fired last. But if you can create value and can do things, you'll always land better.

DizzyBiscuit
DizzyBiscuit
Oracle19mo

If top management gets fat bonus , entitlement is not wrong .

GroovyJellybean
GroovyJellybean

Nobody is stopping you from creating company with loopholes. Become management and then take fat bonuses

TwirlyNoodle
TwirlyNoodle

Tech salaries were very inflated. I have seen people switching with more than 100% hike with few months of work experience. It is getting corrected now.

I have friends who tried for Microsoft many times but got selected in 2021. They did in fact overhired.

SquishyUnicorn
SquishyUnicorn

I agree and it's still are. One of my friend from Microsoft switched a yr ago and for 100% hike and want to switch again for 40-50% now. Companies are still paying, hence people wants it. People at bottom gets a change while people at top are sitting with a big fat paychecks and bonuses for firing the bottom feeders.

SquishyMarshmallow
SquishyMarshmallow

OP, we didn't hear you complaining when you were getting inflated salaries from these same startups 🤷‍♂️

And VC funded startups by nature are high-growth-or-bust, rapid-hire-rapid-fire financial instruments. You were given a much higher than market salary to help in that growth. Since it didn't happen, you're fired. It's the game homie.

SleepyCupcake
SleepyCupcake

I never was part of a startup nor did I get any inflated salary. You dont fucking know me so spare me your judgement.

SquishyMarshmallow
SquishyMarshmallow

And you don't know jack about the people funding and running these businesses, the people who hired and why they hired, and why they're firing now, yet you took the liberty to make sweeping generalizations and pass judgement on them en masse.

Get off your high horse dude. Capital was really cheap due to low Fed rates, business managers sensed it's better to invest that capital in talent instead of a bank account where there's no return.

Suddenly capital ain't that cheap anymore, and it makes sense to quickly self-correct instead of being caught with your pants down.

This hiring and firing cycle won't continue, it's simply smart people reacting to the overall economic situation.

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