Twilio being the first to layoff followed by docusign, my predictions are Lyft Uber Coupa Asana/ monday.com and the likes Zillow compass and the likes Nvidia ( too big ) Add more to comments
Meta ?
Meta recruiter told me that they have plans of layoffs but not in engineering teams lol
Lol wut. Everyone finds this stuff out before us
I think Uber financials are better now than they ever were - currently FCF +ve and assuming that remains the case during this Q. To your point, I don’t think layoffs are off the table but it would be a bit of a surprise if it happened next
With pent up travel demand (despite inflation), do you think uber would be severely hit to not be able to weather the storm and resort to layoff or do you think they will do it to trim the fat with recession as excuse?
I think the storm has not hit us yet although I am not sure. Unfortunately (or fortunately) I don’t know the up-to-date business data because I don’t have perms xD trimming the fat sounds more plausible given that SBC was/is high and now if uber is FCF +ve again, investors will now want net profit +ve where SBC cuts into quite a bit. Seems a bit early for that now though and it also can take effect in the form of less significant refreshers going forward. Apparently Uber was generous with refreshers until now, not sure if that will change
What are your thoughts on ServiceNow? Salesforce?
Did salesforce not have a layoff last year
No layoffs. Only reshaping. Technically to cover for attrition in US we are refilling them back in India/LATAM. So no one has been “laid off” yet.
Doubt it on asana. They’ve been pretty conservative with HC Id bet money on Uber and Lyft (not a significant amount tho) . Their comp packages are crazy and I wouldn’t be surprised if they had to trim down to control burn and appease shareholders
It's getting crazy crowded asana, monday.com,jira, airtable and many more are fighting head on heels + companies can survive without jira or confluence.
I don’t know think that’s true. Especially with so many companies working remotely now. They aren’t going to cut product management/knowledge sharing tools that make remote work easier
Twilio was by no means the first. Industry layoffs have been going all summer. As to your list - yes any public SaaS company, they're all going to do it
Agree
@tsAE what makes you think all public SaaS will layoff? Thoughts on ServiceNow?
If there’s a massive recession I think Snowflake will be next. Their revenue is propped up by “modern data stack tools” like dbt and fivetran in the name of analytics engineering, which can easily be offhanded back to data engineers to save significant money
Oh yeah how did I miss this baby out snowflake
Twilio is still hiring though. See jobs section in https://www.linkedin.com/company/twilio-inc-/ 🤔
Loll you can royally roast and joke on us. No idea what's going behind the scene. Only saving grace is the 4.5 billion cash that cfo prepared as a war chest. We will push through this recession
It could be that they just posted the jobs before layoffs and haven’t taken them down on every job board yet
Compass just had another round of layoffs last week
I am surprised zillow is still holding the cards somehow after the housing manipulation cluster f***
Zillow laid off 1/4 last year
What do people here think about switching jobs in this market. I have been prepping slowly and steadily. And I think I will be ready for interviews in another few weeks. I am only planning to try big profitable companies like - google, Microsoft, etc. Is it still safe to switch at this time?
No place to hide right now. I would stay put if you are worried about job security, new hires are easy to rip off because they are no value to the company atleast for the first few months. If you are all about learning forget this drama and deal wht comes your way.
My only reason to switch jobs is to increase my TC. Have a huge cliff coming next year. But don't want to risk getting laid off trying to bump that TC. Apart from that I love Zillow I think I will still interview for all the big and safe companies since I have already spent time preparing. But only join if there is a big sign on bonus with no clawback or a big TC jump
What’s your thoughts on Amazon?
Lol I am no seer but meta / google might be the first. Amazon will pip the f out and kick everyone with no severance
Lol