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
It's more of a market rationalization which is common after every bull run. What we are seeing now is just exactly how a stock market behaves
We will all know when a real bloodbath happens. Right now it's just simple market correction
Bloodbath? Please do not state such hyped words without any substantial data . You do not know how much impact your personal view may have .you want to share information, do share but be responsible. The data you gave is just 0. Something
It was so funny. I thought I was gonna see a lot of statistics and numbers but all I saw was a couple of companies lay off news which is already happening. Bloodbath it seems.
And what they mentioned about force resignation that is already happening in other companies as well.
I had interviewed at Spyne last year for an SPM role and gotten rejected. Kinda happy that it’s a dodged bullet considering the layoffs you mentioned.
Work culture was great only for namesake, although i heard that parties were great but in general engineers were overburdened and a lot of micromanagment was present from the top instead of focusing on building the product started laying more emphasis on clients
More like butterfly effect… Anyway, this can lead to creating real blood bath if same thing happens rapidly across many regions. Like the default of banks
So many companies are doing layoffs. It's becoming so common that now a days people have even got used to it. Folks in or know about US/UK/Canada, how's the situation over there? Is this shit show becoming common there too?
Some companies I heard of, Airmeet Inmobi Simplilearn Spotdraft
There are so many that are also doing silent layoffs right now
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There are rumours that fresh rounds of layoffs were to happen in next two weeks. Here is my take on the layoff spree.
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Heard this morning from a friend who works at Accenture India, layoffs have begin once more. He said he is not sure if this is part of the 19000 that was announced during the earnings call.