would love to hear from people in the company or close to it. from the news it sounds like duplicate work redundencies mixed with performance management to decide. am I missing something?
Random nonsense. Some teams were taken over by the off shore counter part they trained (CO)... So there's that. More layoffs are expected, as only four orgs have restructured: ops (light speed), marketing, product mgmt, engineering.
They over hired thinking that the business growth would justify hiring. Now that the business has slowed down, can no longer defend so many hires. Time to let them go.
Ordinary people getting paid extraordinary TC. Pressure from shareholders to turn profits so easy option is to decimate over paid workers
BS, lot of high performers I personally no were let go
It's all part of making it look better for shareholders and investors. Reorg/culling layoffs often helps the share price in the short term so long as it's not an obvious reduction in force due to a dying business.
I think it was meant to be for removing duplicated work or low performers, but managers took it upon themselves to fire people they simply didn’t like or were threatened by.
PIPs have always existed at Uber. Company had a 5b loss due to stock, so layoffs help get the entire package back, likely $300k - $900k per person since a ton of <1 year hires were let go this round without RSU's in the same quarter. Then they can offer this to new hires, and do the same.
They can and they will most likely. They won’t budge on the base though.
Being invited on site and more teams are opening up hirings again. Let's see if this happens to me.
Karen don't hurt your cat.