Got 2 reach outs from Uber recruiters this past week. A few friends have also reported the same.
Was there no effort to rebalance the teams and have those laid off reassigned.
Why hire after an 8% cur in workforce?
@uber
Got 2 reach outs from Uber recruiters this past week. A few friends have also reported the same.
Was there no effort to rebalance the teams and have those laid off reassigned.
Why hire after an 8% cur in workforce?
@uber
comments
However the layoffs were in most cases performance based, and in a minority of cases, based on a stack rank of sorts.
I heard on the PM side that the layoffs were more political but have no facts.
Rest and vesters were exactly one of the groups targeted by the layoffs. Maybe the formerly best engineers in your org were doing the same.
One pattern we all saw was the big majority of those laid off happened to be parents.
Guess they think they can better control and pressure the younger ones to work their asses off.
In some cases I’m sure everyone was performing decently and they had to pick someone for some reason. It sucks, but that’s the way it is.
* quarter of the valuation expected a year ago
* low, dropping stock price
* new contractor laws
* Doordash beating Eats
* marketing layoffs and hiring freeze got everyone interviewing
* eng layoffs got more people interviewing
* an expected further dip in stock price when people can sell the stock
* eng were down-leveled when they joined and it's not worth staying now
Layoffs help as follows:
* letting go of new hires to reclaim 100% of their equity
* using the equity from laid-off new hires to get fresh new hires
* focus company messaging to engineers to be about "post-layoffs" instead of how the other problems are being addressed
* rumors of "low performers" and good packages make Uber look good, and keep existing engineers from wanting to quit now to be in the same "pool"
Companies do this to get rid of highly paid people and bring in new people at a "cheaper" rate
I wish you guys the best, but you all are a very brainwashed & annoying lot.