Product team layoffs at Yubi?

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.

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 :/

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....

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....

Layoffs started in April which are still continuing. CEO says in all hands that reason for many people leaving Yubi is not because of cost cutting, also says they are going ahead with hikes & bonuses. On last day of June payout when hikes/bonuses were expected HR announces that hike/bonuses will come in July payout. Diplomatically they just told that some people will get 0 hikes/bonuses. They want project to Go-live in 2 months but can't complete hike/bonus process in 2 months ? Very high chance that they will give zero hikes/bonus to all employees this year. HR recently started this shoot out thing where names of good performing employees is called out. What for ? Are they giving any benefits to employees? Vacation leaves are reduced. CEO lies openly. They just seem to be making fool of employees.

Yubi’s culture has been a mess lately. 1. The quality folks have decided to move on with no one doing anything to retain. 2. No new hires across verticals leading to overburdening the existing employees 3. Insane amount of politics within the group companies 4. Pretty much everyone is looking out 5. No one is happy - employees with work Pay life balance, stakeholders with deliverables and expectations are shooting the sky In short, Yubi is at its worst in the current scheme of things.

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