How’s working at Square? Are layoffs coming?
Got an offer from non-tech offer from Square and trying to evaluate the risk of layoff. My understanding is Square makes a huge chunk of their revenue from processing fees + SMB subscriptions, but if consumers aren’t spending, then is the business doomed?
Far less likely. Jack takes care of his employees
No one can say for sure, but we've never been a hire to fire company. All the signals I've seen so far are around more scrutinization around hiring, leading to natural slowdown. We're internally reorganizing to move people from over-resourced teams to under-resourced teams. All-in-all, just responsible steps. Our Q3 numbers were good compared to our competitors. Having to do layoffs is a terrible look for a company. I feel we've gotten way ahead of this downturn in the market, and are taking the right steps.
When the economy slows down, more people try to start a side hustle. Providing solutions for small businesses will benefit you in a down economy. Part of Square’s businesses are counter cyclical.
Share the offer details?
I think what Amazon is trying to say is, TC/YOE or GTFO.