I have an offer from Squarespace but considering if it's worth leaving my currently relatively safe job for a company that just went private. TC remains the same, but Squarespace might have better tech stack, less enforced RTO, easier commute and most importantly free lunch. Would love some insights from current employees how going private is going to change things. 280k
too early to tell tbh but sentiment is never great when PE acquires 1) No major layoffs have happened. did like 5% in feb 23 then one of the companies we acquired did a RIF too 2) We already had a small cut in insurance perk but this was going on before PE 3) we were told there would be liquidation events yearly but it wasn’t written/promised 4) PE people aren’t idiots- they know its easy to cut costs for tech companies.. force stricter rto or lay off ppl 5) our lunch isnt that great(but its free and gets the job done. i never minded it but it isn’t some amazing perk) Plus it got worse from pre to post covid, but i bet every company w free foood did
I agree PE buys the company for a reason - to make profit out of it. The most common way is to aggressively cut costs - and employees are always the biggest cost of a tech company, and I’d argue there’s probably space for some RIF as well, if the PE decides to tighten the requirements on employee output/ performance/ deadline, etc.
how’s the morale at squarespace knowing that you’re going private? do you know what happens to your compensation structure going forward? what happens to refreshers?
I spect a lot of changes and cuts, no one buys businesses to keep them as is, have to show ROI. So expect more work, less perks, and, your equity is going to be paper for a long long time going forward…