Google's move to lay off 6.4% of staff on Friday didn’t come as a shock to most employees, but it stunned some of the individuals who were cut. Laid-off employees included those who had previously received high performance reviews or held managerial positions with annual compensation packages of $500,000 to $1 million, according to managers who spoke to The Information. The Information reports . What’s your thoughts?
My org of 128 people costs $24m per annum. That’s including all travel, expenses, and morale budgets. Compare that to one person on $1m compensation
Yeah but then eBay is sort of a dinosaur of internet businesses.
You say that as if all 128 make $24m/128. The top 10-20% probably make ~50% of that. That's how it is everywhere.
I guess they spent too much money on ping pong tables and beanbag chairs.
I hope they had an emergency fund, but most tech workers are broke My business unit has a 9 digit budget and we don’t even build jet engines - we’re the software focused staff - we’re eating popcorn watching the big tech companies purge their headcount
I don’t know why The Information thinks this is the news they can monetize. Given the nature of the layoffs, you don’t need to ask anyone and can easily assume this is true. There’s got to be at least 1 high performer, and 1 management role (which of course has a TC above 500k) within 12k.
Fitbit was a bloodbath. One Director had his whole US org of 125 axed. My whole team was axed. Some lost access immediately. Some have end dates spread over the next 3, 6, 9, 11 months with assignment/retention bonuses. L3-L7 + Directors are axed.
Tech Industry
Yesterday
387
System Design questions are ultra easy, I don’t get why anyone is complaining…
Tech Industry
Yesterday
1953
The end of Backdoor Roth?!
India
Yesterday
825
Modi is a legend, will be remembered for centuries to come
Working Parents
Yesterday
749
What do you think is wrong with a kid who got rejected by 9 colleges?
Tech Industry
Yesterday
2452
Quitting this Slave life
Cut is to save money. Make sense cutting higher salaries