Why would there be severance if someone is leaving on their own free will? 🤔

We all know the truths behind such step downs. Btw majority of layoffs are also fall in similar step downs.

Product Manager

@ElonMast - I see BS happening that I can't digest or have a difference of opinion in strategy, would I not leave ASAP?  
  
 Assume I'm someone with creds of the CFO. I'd back myself to get a new job rather than rot in this toxicity.  
  
 Someone at a Rs.3/4 Cr salary would have a solid runway and a will have headhunters calling them every alternate day.

Corporate Strategist

After CEO, it’s time for CFO. I was just wondering what would be the “severance & transition costs” of such fastpaced changes at OLA. Any reference data points?

Welcome to Indian Startups's Private Community

After CEO, it’s time for CFO. I was just wondering what would be the “severance & transition costs” of such fast-paced changes at OLA. Any reference data points?

Severance & Transition Cost

Severance & Transition Cost- Grapevine

Welcome to Business Roles's Private Community

This reminds me of the office episode where 2 people were doing the job of one.

Folks at the management level, what's the need for a co-ceo?

Account Manager

I have see many lists of places to work at. Let’s create a list of companies not to work at. Please post the company name and the experience of working their.

Top 100 places not to work at!

Software Engineer

I am a manager with ~18 years of experience with my company in Bangalore, a wholly owned subsidiary of an American company, and I have heard that they will shortly be doing a closure of their India operations and laying off all the Indian employees.

I wanted to get an idea of the market standard severance packages that are paid to manager level employees before going into negotiations with them?

What is usually offered? And what am I legally entitled to? Any other advice is greatly appreciated!

Market standard severance for managers?

Operations Manager

Why Ola Cabs CFO Karthik Gupta steps down?

Loosing respect for the companies which are laying off the freshers. I thing it is the worst thing which can happen in an industry. 

Ola and Amazon have fired freshers very recently.
Any other companies which had done this?

Freshers laid off

Software Developer

Welcome to Office Gossip's Private Community

Just got to know internally that Unacademy is planning another round of silent layoffs in October.

No severance will be paid. Or any benefits.

Unacademy planning another round of silent layoffs in October

Growth Manager

What does it mean for employees if CRO of a listed company sold major chunk of their shares and is looking to exit? 

Should we start looking for new gigs?

CRO to exit. What next?

Sales

In your experience, what are some early signs that help detect incoming layoffs at a startup?

 It could be company-wide, team specific or in a particular function only.

Layoffs at startups: Early signs or warning signals

Hiring freeze, decreased marketing spend, founding team retreating away from day to day activities and meetings

Third round of silent layoffs are happening at Yubi. The company is at cross roads with no real revenue being generated. Last year itself Ebidta turned negative. Cost cutting all benefits revoked. No hike given this year not even some percentage. 6 people thrown off without even a word directly asked to handover laptop. Whole organization is under confusion. Chaos and panic everywhere. What should I do now any ideas are welcome. Too much pressure that I literally not practising DSA, design as even work from office is being monitored. They even monitor timed we go out or go for restroom I guess. I dont know what to say....

Beware Yubi Go get Layoff

Welcome to News Discussion's Private Community

From the last few days there were talks going on about layoffs in Morgan Stanley. Some 7% of the global staff will be handed over the pink slip in this week. 
Well... It started happening from today ... Few colleagues from my department were laid, and the reason being "company is trying to survive in the market, company is planning the road ahead by taking such bold steps".
When this was announced, my anxiety shot up the next level and I couldn't wait for the meeting to finish.
The past few years have not been great for the business worldwide due to which many companies are forced to take such steps. These companies just have been doing a hiring spree from the last 1-2 years that now they are regretting their decisions and letting off their employees.
My question is - "If a company hires excessively during the bull market and is forced to lay off few of the employees during the downturn, has the company made an error by not evaluating the headcount or it was just simply the need of the hour" 
 
Please note - I know many people out there who have faced job cuts due to many factors, sincerely requesting people to take this matter very seriously

Layoffs - A complete mess made by the companies

Analyst

CueMath laid off more than 200 employees again in the same year

Product Design Manager

Welcome to Software Engineers's Private Community

Work culture has become ultra toxic. Managers have started nano managing and literally are a pain in the ass. Product giving unrealistic timelines and leadership agreeing on the same without even consulting the developers and even if the developers are raising concerns, no fucks are given infact they are made to realise that this is how a startup should work. Literally everyone is working their asses off and still unable to meet the deadlines. Empathy is completely lost and WLB is a sham. People including me want to switch but are not even getting time to prepare.

Rant on Swiggy wlb

This is all trickling down from the Leadership, they are trying to cut down costs by any means. Already had one round of layoffs, now they are doing silent layoffs in the form of PIPs. 
  
 Also, Leaders have lost the long term focus and are trying to find out more and more short term projects related to profitability.  
  
 There was always this pressure of work, but in the past 7-8 months this has become unbearable with no empathy in the organisation.

Analytics Manager

Hi , this post is intended to be a disclaimer to anyone who is planning to join Yubi. A lot of things are happening here that show some signs of an impending layoff

1) Several senior folks in tech and product have quit. Also there is no replacement hiring planned for them. Several projects are also getting shelved as a result.

2) there were several open roles a few weeks back and almost all of them are on hold as of now across all depts( tech , business , ops)

3) rampant cost cutting. The lunch options have been reduced to just 1 dal , 1 veg , rice and chapati.  Snacks have been removed too.


Because of several folks quitting in less than 6 months and no replacement hiring , load has increased tremendously on existing members who are themselves trying to leave. 

People have serious doubts on whether any hike or bonus will be given or not this year.

Rampant negativity at Yubi

I am currently evaluating the job offer from OLA, considering factors like the role's alignment with my career goals, the company's reputation and growth prospects. I want to ensure that this opportunity aligns well with my professional aspirations before making a decision. Please help me to understand the company culture and overall growth at OLA

OLA Offer Evaluation

Program Manager

Just wanted to give some updates now that it has been 1 month since the last post

1) Senior Leadership from Tech (3) , a senior director from Product , Finance Head have all resigned. Strategy team has been dissolved. 
2) There are more people in the pipeline and will get more clarity by month end.
3) Everyone over the CTC of 60 lakh has been asked about the revenue that they bring in and based on that, their position is being reconsidered.
4) All contract workers have been terminated. Interns have been told that they won't be receiving PPOs.
5) Senior Management Has been asked to take 20% paycuts. 
6) Even at Junior level, people have been asked to take pay cuts or resign.
7) Lots of tools used in tech are being removed and AWS subscription has also been revised.


Meanwhile HRs have been celebrating on slack channels that Yubi has been ranked in Top 25 companies for career development :/

Rampant Negativity at Yubi Part 2

What are generally the metrics used during layoffs ?

Is it division by division or each employee is vetted for his performance and contributions ?

Do high salaried folks generally targeted even if they have good performance and history with company ?

With the overall bleak atmosphere in startup ecosystem and lack of transparency in this process from employers wanted to know how are decisions made. Most say it is performance based in news, how true is that ?

Layoff Parameters

After a confirmed research, following resignations are happening at Unacademy, resulting in a massive instability in the organisation

1. CHRO
2. COO
3. CTO
4. VP IT & ADMIN
5. CBO ( JM)
6. HEAD OF OFFLINE CENTERS
7. GENERAL COUNSEL
8. IAS COFOUNDER


Adding to this, following BU's have been shut

1. Content Growth
2. Coheshve 
3. Next Level

TRULY SAD TO SEE THE HOUSE OF CARDS FALLING DOWN.

Series of resignations at Unacademy 👾

As the title suggests, I often wonder what is the natural progression for people who join startups in Chief of Staff or even Founder's office roles? Do they move to a specialized vertical internally? Or do they move to other startups in CoS roles? Or they do their own venture (I like to believe this is still less likely). Have this thought because a lot of Tier 1 MBA, MBB consultant profiles have been moving to these roles and it really makes me wonder what path would the careers of these top talents take?

Severance & Transition Cost

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