Blind TL;DR Edition No. 33: Week Ended June 24, 2022
Blind TL;DR helps you stay on top of what shaped the tech industry this week in about 3 minutes. Keep tabs on the latest with insights straight from the newsmakers—technologists like you.
Hybrid is hell
Hybrid work is the worst of remote and on-premise work, a “hell of half measures,” according to Yelp’s founder and CEO. The restaurant-recommendation website will close its offices in Chicago, New York and Washington, D.C., and reduce its Phoenix office by the end of July. The company plans to reinvest the savings into hiring and employee perks.
Check out technologists’ reactions on Blind.
The CEO signs off
DocuSign lost its CEO. The top boss didn’t give a reason for his resignation, but the company has struggled this year. Once a pandemic favorite, the e-signature company has lost more than 56% of its value year to date and missed expectations in its recent earnings.
Private equity buy-out
Zendesk will soon become a private company. Two private-equity investment firms announced they would buy the customer-service software company for more than $10 billion in cash. The deal is a 40% discount on the $17-billion buy-out offer the company rejected four months ago.
Here’s what the acquisition might mean for Zendesk’s culture.
The one thing they didn’t teach
It turns out celebrity-taught online classes aren’t sustainable. MasterClass laid off 20% of its team across different teams, pointing to the current state of the economy as the cause. The company reportedly pays celebrities at least $100,000 upfront and at least 30% of the revenue.
Read why some technologists on Blind weren’t surprised.
It’s called the Golden State for a reason
One of the best places to be a software engineer is California. The Golden State lives up to its name with large total compensation offers, as high as $500,000 or more, according to an analysis from Blind. There may be no better place for a technologist than California—if you can stomach the high cost of living.
What do you think are the best-paying cities for engineers in California?
What’s going on with the offer rescinds and layoffs?
It’s not your imagination: Layoffs and job offer rescinds have become more common. More than 100 tech companies have laid off almost 50,000 people combined in the last month, and other companies have paused hiring. We asked a veteran HR executive and a leading recruiter how to make sense of the current job market.
These are the 7 things HR and recruiting experts recommend that you know.
Be a newsmaker
Make an impact with your work. The top companies in the headlines are using Blind to grow. Find out how you can get an offer from some of the most innovative and fast-growing companies.