Blind TL;DR Edition No. 50: Week Ended Oct. 21, 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.
What could you do with $8 billion?
Earth’s best employer has a retention problem. Employee departures cost Amazon an estimated $8 billion a year, according to leaked documents from the internet giant. The high costs come from the need to hire and train employees. In the warehouses, the annual turnover rate may be as high as 150%, which means the company must rehire an entire team in less than one year.
Check out the fact check from verified Amazon employees on Blind.
Watch out for the quiet layoffs
People aren’t buying as many computers or video games, and it’s impacting Microsoft’s bottom line. The company confirmed that as many as 1,000 people lost their jobs in the computer giant’s second round of layoffs this year. It’s unclear which teams lost jobs, but the pink slips may have been concentrated in Xbox and the company’s video game studios.
Learn more about the layoffs on Blind.
No layoffs!
Perhaps no surprise to anyone: Twitter has had to do some damage control recently. Elon Musk reportedly told investors that he has plans to cut three out of four Twitter employees once he controls the company. The rumored layoffs would affect more than 5,000 people at the Big Blue Bird. But now, the company’s top lawyer told employees there were no plans for layoffs since the merger agreement has been in place.
Read the reactions from Twitter employees.
Goodbye, moonlighters!
Companies are ramping up their efforts to catch moonlighters or people who have two or more jobs at the same time. Equifax, which owns an employment verification company, used its own service to catch employees working in undisclosed second full-time jobs. Recently, a major tech company in India fired hundreds of moonlighting employees.
Find out how common moonlighting really is—only on Blind.
No mo’ IPO
We’ll all have to wait a bit longer to see a tech IPO this year. Instacart, which filed confidential documents to go public this year, will now wait until 2023 to become a public company. The food delivery app wants to avoid the markets, which have suffered amid inflation, war, and a fear of an upcoming recession.
Take a peek at some other companies that might be like Instacart.
The secret to the Amazon interview
Behavioral questions can be one of the trickiest parts of a job interview. Fortunately, there’s a trick that recruiters at Amazon and other major Fortune 500 companies recommend their candidates follow: STAR. Find out what the acronym stands for and how to apply the framework so that you have a better chance of acing your next interview.
Get the guide to interview responses.
Be a newsmaker
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