Who wants to bet, in the next few months, companies who are cutting mass jobs will be right back in the market In need for talent. I get it, some companies overtired, but when the economy recovers a bit, imo, things will be back to normal and all of these companies will be hiring like crazy again. They are laying off due to fear of what could happen…. We shall see… #Wayfair #google #Amazon #meta #netflix #apple
Time is a flat circle.
I don't think the economy will recover in the next few months. This is not the peak of the recession by far
I disagree. I don’t think it will get much worse. It may get a little worse but the economy is strong, and inflation is decreasing. As many signs there are for a recession, there are as many to say the opposite. I guess we’ll see. No one really knows
Layoffs will trigger the real recession. Everything else is just kindling for the big fire. But when people lose high paying jobs you will see the inferno of 2000 and 2008 again
Overreaction without a doubt. When they fail to keep the lights on, they’ll be hiring fiercely again
They're making the right call. Economy is crashing without pause. Retailers like Target had a 90% reduction in profit. And Target sells essentials. Wayfair sells furniture, which isn't really something people splurge on in a recession.
Furniture is a discretionary spending imo. If your coffee table breaks, you can still wait or buy a used one or not buy one. It’s not stopping your life. Essentials is grocery, pharmacy, gas. That spend is not going to stop.
If they’re getting rid of managers this sounds like a way to replace expensive workers with inexpensive ones in 6 months
@amazon that’s what bill guy said to meta in the thread above
I don't see too many managers gone in my departament. Seems more like engineering, but I can be wrong.
Wayfair has a major quality problem. So does Target. Best example? Search for anything made out of brass or bronze. You'll find a bunch of things that are coated aluminum or coated zinc but still charging bronze/brass prices. Consumers that spend are jumping ship.
Do you think the average consumer would know this though? Seems to be a very specialized knowledge. Honestly I would never equate quality with Target, Wayfair, or Ikea
Wasnt WAYFAIR remote first workplace ?
No. We did allowed remote workers but for most corporate employees it was required to be hybrid
Very anti remote
How many SWEs?
More managers and directors.
wayfair (and many similar companies) are poster children of the loose-money era. Wayfair has not shown a cumulative profit in its entire life as a business. It has been a vehicle for insiders to cash out at the expense of the shareholders. Expect more of these zombies to get their reckoning as money becomes tight.
OP you started working long after 2008 didn’t you? All of your career tech and the economy in general has just recovered quickly and gotten even crazier after any short downturn. That is not what you should expect in the future.
Not companies like Wayfair they aren't sustainable
Seriously. The model has been tried so many times, and they’ve all been money furnaces. This model just can’t work due to overhead.