[rant]- What’s up with startups? Sudden layoffs in literally last working week of this year
I understand that companies want to start new year with new energy. But doing it in the last working week of this year is just nuts.
Let folks enjoy the year. Do it in Jan first/ second week.
By doing now, you’re literally spoiling this year and the next.
To founders out there: grow some spine, tell your investors you won’t do it now. I don’t think it’ll hurt your company much (I mean you’ve not done enough, and that’s the reason you’re in this mess, probably suck it up and wait for few more weeks)
To the folks out there, who got impacted, my heart goes out to you all. Good luck. Market is tough, but I know you guys will make it.
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They opt for dec, because its quarter ending. The books will appear cleaner from Jan and that quarter will look better when it ends.
It has nothing to do with new energy from new year. Its like they clean the old shit to prepare for new shit.
Ya this is the main intention I have read across. Few recent ones are under funding clause
Spine, what is that??
- An Edtech start-up founder
One of the reasons why I like the Zerodha Engg team. Has a very healthy and stable AF employee count. No investors AFAIK. No layoff, no hiring. Just minding their own business and enjoying their own profits.
who all are int this boat
Investors have told to extend runway till 2025!
In most cases especially if the company has crossed series B round , founders usually don't have much equity of the company , It is the others who have the highest voting shares on the board .
Founders would have in all cases, would have negotiated as much as possible, in these startups , founder are just executioners than decision makers ....!!!
I do not advocate any kind of firing but just the other side of the story .
Not every founder has the corpus to say NO to investors. Maybe it's actually the need of the hour and we can't do anything about it coz it's too late. Life ain't fair all the time. Yes bad decisions were taken but if the choice is between layoff and closing down the company, I am pretty sure what option most of us would take.