ZoomyMochi

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?

14mo ago

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SqueakyPickle

Google14mo

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

BouncyDonut

Stealth14mo

Best luck to you

SwirlyPenguin

Stealth14mo

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

MagicalQuokka

Stealth14mo

(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

Stealth14mo

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

BubblyBoba

Stealth14mo

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

Student14mo

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

SillyMochi

Stealth14mo

Govt job zindabaad

SwirlyPenguin

Stealth14mo

@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