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ZoomyMochi
ZoomyMochi
Stealth

LinkedIn Layoffs India

Week back there were posts by linkedin engineers that linkedin is hiring SDEs and anyone can as referral and today they laid off 700 people.

Like whats happening man!!! Is the company dumb or what?

16mo ago
SqueakyPickle
SqueakyPickle
Google16mo

It makes sense for company to layoff overpaid employees & hire similar skilled employee at lower salary.. Isn't it?

BouncyDonut
BouncyDonut
Stealth16mo

Best luck to you

SwirlyPenguin
SwirlyPenguin
Stealth16mo

Can they not tell their employees to take pay cuts? Why to layoff them?

MagicalQuokka
MagicalQuokka
Stealth16mo

(1) Reduce cost of human capital -> (2) Post better EBITDA numbers in earnings calls -> (3) Get big bonuses and sell your equity if its value is rising -> (4) Hire a lot of people again so that you can repeat this cycle again to profit

SwirlyPenguin
SwirlyPenguin
Stealth16mo

Will you explain this in simpler terms, a fresh college grad here

BubblyBoba
BubblyBoba
Stealth16mo
  1. Reduce salaries by firing overpaid employees and hiring similarly skilled cheaper employees 2. Less salary expense means company has more net profits 3. More net profits means that the company’s share price will rise, and the top management (CEOs, etc) usually are also given company stocks along with salary - hence they can sell the stocks and make more money
ZoomyTaco
ZoomyTaco
Student16mo

With every passing day I feel career in tech is no longer sustainable for future

SillyMochi
SillyMochi
Stealth16mo

Govt job zindabaad

SwirlyPenguin
SwirlyPenguin
Stealth16mo

@DaLeVis I would have gone for a government job, but tech is my kind of thing and PSUs don't have many openings. Cramming GK questions just for the sake of banking doesn't just appeal me

DerpyNarwhal
DerpyNarwhal
Stealth16mo

•Engineering Management: 137 •Product: 38 •Engineering: 368

WobblyBagel
WobblyBagel
Stealth16mo

Number of fired or remaining?

SwirlyPenguin
SwirlyPenguin
Stealth16mo

Number laid off

FluffyNugget
FluffyNugget
Plivo16mo

Hiring won’t stop. They can bag fresh ones at lower than before compensation

SquishyPancake
SquishyPancake
Stealth16mo

Did they layoff the software dept ones or other depts

ZoomyMochi
ZoomyMochi
Stealth16mo

ya software

JumpyNarwhal
JumpyNarwhal
Dunder Mifflin16mo

Engineering, Finance & GTO

WigglyBanana
WigglyBanana
Stealth16mo

https://x.com/rishikagupta__/status/1713976733656072232?s=46&t=hTgaYbKm1QTK9Kl5IwiHyQ

WigglyBanana
WigglyBanana
Stealth16mo

Looks like people have started getting impacted in India

GroovyBagel
GroovyBagel
Indsource International16mo

Reduction of 563 roles across R&D...Job Dene Wale khud job mangne Wale ho gaye.

SillyMochi
SillyMochi
Stealth16mo

Is it true that everyone got to keep their laptops after getting laid off plus 6 months severance package

CosmicLlama
CosmicLlama
Freelancer16mo

I hope the product manager who was responsible for making it a cringe posting platform is fired.

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