This is that sham company that makes crappy perfumes, right? Recently they caught using shady marketing techniques on reddit

Growth Manager

Not sure if sham but yes, have heard that it makes crappy perfumes for celebs.  
  
 I have also come to know from Reddit that they apparently sent women’s undergarments to someone.

Product Manager

One of my known friend who got laid off recently from top VC funded company who had joined recently.    Reason for layoff: Company runway

Welcome to Indian Startups's Private Community

One of my known friend who got laid off recently from top VC funded company who had joined recently. 


Reason for layoff: Company runway

To all the hiring teams - While hiring mention your runway too

Analyst

To all the hiring teams - While hiring mention your runway too- Grapevine

I was working at a Start-up more than a year back. We were required to either raise funds or do something else, against what we wanted to do, to move forward. 

One day, the co founders got us on a call (<10 people team), and explained the situation to us. 

Either an acquisition or a round of funding was the only chance. We hadn't raised any round up until then. 

Unfortunately, we had to bid goodbye to something that we were passionately working on.

Lay-offs!

But, we got 2 months notice. And on top of that, we were encouraged to prepare for interviews throughout those 2 months (while giving minimal importance to work). 

I literally cried multiple times because of the thought of having to leave the amazing team. 

The founders helped us with all the support, and made use of their network to help us get through as well. We're still in touch with the team, and all of us are at relatively good positions now. 

(Although anonymous, just wanted to share this out there with all of you folks. And I try to 'help it forward' as much as possible)

Good layoffs!

Layoffs are happening at Sharechat starting today.
Each division is being asked to join a call and they are being announced.
First call with product org - around 50 folks were impacted

Layoffs at Sharechat.

They moved to a new massive swanky Office 3 months ago. Team parities were happening even last week. And they do this in last week of the year spoiling the new year plans of hundreds of folks!

Channel Sales

First, how is a BNPL company surviving?
They are hiring.
How is the culture there? Anyone knows?

How is SIMPL ?

Heard that they had 7 floors and now only one floor left. 1300+ peoole let go in 3 months

dealshare layoff 90% staff

Project Manager

Looking at so many layoffs at Google, Cloudflare and FAANG-type comoanies; that too in spite of having profitable quarters makes me think of FAANG is a curse instead of blessing?
Anyone with similar thoughts?

FAANG unattractive in 2024

Software Engineer

I don’t understand what the point really was 

- companies with a bad product are still struggling 
- companies with a good product are still growing
- rent in Bangalore, Mumbai is still sky high 
- salaries are still high, people are still asking for more 
- food is expensive as ever 
- stock prices of companies that fired people never really went up 

Someone make any sense or any of this?

Layoffs were a total failure at changing anything

I've had the fortune of having worked in 3 countries so far. India is by far the most exciting place to be in 2024.
But there's something about our work ethic that just concerns me. In both white and blue collar.

In most other countries, I've observed people strictly sticking to the 9 to 5, working diligently in those hours - not wasting too much time on chai sutta breaks, instagram browsing, gupshup etc.

They work for 8 hours, then leave. And think about work directly the next day.

In India, most of us spend more hours - but very obviously very few of those hours are productive. In fact, I lately feel that too many people around me are doing even 2-3 hours of work on a good day.

We end up just staying around, passing time, and then go back home. When we could have achieved so much more.

Work ethic has fallen. Work hours have gone up.

We need to be more mindful of our actions, we need to work well at work, and then do well at home.

I think it's a function of being over populated. There are 1.5-2 people doing what 1 person should be doing, hence this effect.

Needs to be fixed, it's the sign of a major problem in the workforce. Thoughts?

Disguised unemployment in India - It's all around us :/

We don't end up staying long hours because we need to. But because we have to, so that the manager doesn't feel like we leave the office by "half day".  
  Also, they have a leverage that they can shut their laptops at 5 and nobody will reach out to them. But here in India, managers do reach out for escalations, or make us attend lat evening calls because it's afternoon in Europe or morning in NA. The people sitting in Europe or NA are not made to wake up early or attend night calls to accommodate us during our actual 9-5.  
  People also chit chat etc. bcz they know for sure that they have to sit for long hours..so they need to take small breaks in the day. No one has the capacity to work 10-11 hrs without any breaks.  
  Here it would never be possible to have such a strict 9-5.

Customer Success

Corporate Strategist

Which are the companies that never did a layoff?

Senior Software Engineer

Product Designer

Being an investor in equity markets, i was aware of the fact that US market will crash as the free money by fed draws back. I obviously was not able to link this up with the funding dry-ness.

I still expect a founder to be aware of these economic events. I am curious how could the management decide to go for hiring employees only to lay them off a year later. 

If you are a founder, would be happy to know the other side of the story.

What triggered layoffs ?

Let me explain in detail. 
 There are two parts to it and can be broken down basis PnL 
 1. Revenues : Sudden jump in tech( social media, e-commerce, ad tech, fintech, etc) plus supporting industries (chipmakers, laptop / device manufacturer) and the general economy with QE money  
 This impacted forecasts as most firms forecast AOPs basis historically trend (which clearly was an abberation) - this lead to higher HC estimates and rampant and quick hiring  
 Variable costs: CAC, customer support, sales incentive all spiked up as 1. Everyone was putting money (inc bidding price for key words) and 2. Huge customer inflow due to covid (edtech, e-commerce) that required support  
 Fixed costs: While office space / rents remained steady or dropped as % of revenue. This was offseted by fixed tech (software, hardware, people) costs and other costs like (legal, HR, Business, Marketing, supply chain, etc.) the talent was expensive to source plus their need was instant as you already had customer to be served  
 All of this lead to rampant hiring, inflated CTC, rosy forecasts, etc.  
 everyone had turned a blind eye to inflation implications (as for the past 30 Y no one saw a shooting inflation - hence the key decisions makers had now experience & idea about it) - till Dec’21 even FED said inflation is transatory. 
 It was the Ukraine invasion that opened people eyes. Oil went up, food prices went up, UK Europe saw an energy crisis etc 
 This made all the rosy forecast mentioned above duller as 1. Demand was expected to reduce due to higher cost of living 2. Capital became scarce as funding drired 3. Cost of capital (WACC) became expensive as hurdle rate climbed (which is rate of return for bond)  
 Management and investor panicked as they have limited partners (LP) to answer and quess who are these (big pension funds) so people’s pension money had come into startups which were not showing signs of exit for investors. 
 All in all - it is a pain we all have to bare for being exuberant in 2021-2022:

Hi folks,

I got laid off today from a YC-backed startup (W23) citing a shift in product focus. Was part of the core team since Oct '21, initially as an intern then later converted to FTE in '22. Got a decent (30%+) increment this year. I was leading the mobile platform but currently, I'm on a notice period. CTO is supportive and helping me via their network.

I'm a recent graduate and this is my first time experiencing a layoff. What should I do now? What things should I keep in mind looking for the next opportunity? 

Also, if you are hiring and looking for a full-stack engineer, do reach out via https://t.me/GrimBeard75

Got laid-off from a YC backed startup

Product Engineer

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

How to prepare for a layoff ?

Software Developer

Some companies I heard of,
Airmeet
Inmobi
Simplilearn
Spotdraft

Which companies are laying off people now?

There are so many that are also doing silent layoffs right now

Consultant

Mass layoffs at Miq Digital ! Impacted myself. Open for roles in analytics & datascience. Please help on this network.

Mass layoff at Miq Digital

I got layed off 2022 Dec , Consulted at a startup for 3 months , started with a large org with a paycut early 2023 and got promoted within a year of joining.
Not boasting here but just know that bad tines are momentary and good times will happen sooner or later .

Dont get bogged down after getting layed-off

Human Resources

Just got to know I was laid off, any personal stories or experiences you folks would like to share, 
- what helped you to find the next job
- how to mentally get over it it etc,

Thanks!

Things to do after getting laid off

So sorry to hear this @Yamprofessional! I’ve seen you on grapevine for some time and you’ve been so great! It felt like a friend got laid off :(  
  
 Please let me know if anything I can do to help! :/

Founder

I don't know why everyone is making a big deal out of layoffs. Even the ones who laid off are not that concerned than the ones who comment.

Laid off employees literally get free money upwards of 10 lakhs in many cases of senior developers who are laid off from top tech startups. Companies pay severance equal to 3-6 months salary of laid off employees. Some even offer other benefits as well.

I personally know a couple of Devs who got around ~9-10L in severance pay. So, yeah if there are layoffs happening in funded tech startups or leading tech companies, considering their pay range, laid off employees get handsome severance pay including employee benefits

Layoffs a big deal? Positive side of layoffs

Hope you get laid-off & get a good severance package! Will see how your job search goes.

Engineering Manager

Hi guys, just got layedoff day before yesterday. I had joined Increff on 5 June and was layedoff after 2 months due to cost cutting. They had overhired people hoping for growth but their clients left and had runway of 5-6 months. Can you guys help me out here in finding a new job. I was working as an SDE backend. Just graduated from college l, basically a fresher. 🥲

Recently got layedoff

Recently i got laid off. Now that i start appearing for interviews should i make it explicit i was laid off and i am ready to join immediately. Or should I state something else as the reason of a break that might be there post 1st April ?

Should I admit to the recruiter, that i got laid off

Expedia is set to layoff 1500 employees. Everybody is just laying off people giving any bullshit reason

https://officepulse.live/expedia-trims-workforce-in-restructuring-push

https://economictimes.indiatimes.com/tech/technology/expedia-to-cut-about-1500-jobs-globally-amid-moderating-travel-demand/articleshow/108026228.cms

Expedia layoff

Hats off to that grapevine Samaritan who mentioned to hold whatever job you have as things will only get worse this year.

To all the hiring teams - While hiring mention your runway too

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