Ep13. Tech Layoff
- [00:00] Guest intro.
- [02:00] Layoff stories.
- [16:45] Reasons, patterns, signals of a layoff.
- https://news.shopify.com/changes-to-shopifys-team: We bet that the channel mix - the share of dollars that travel through ecommerce rather than physical retail - would permanently leap ahead by 5 or even 10 years. It’s now clear that bet didn’t pay off.
- https://blog.google/inside-google/message-ceo/january-update/: Ensure that our people and roles are aligned with our highest priorities as a company.
- https://techcrunch.com/2022/12/08/airtable-layoffs/: We’ve identified the teams best positioned to capture the opportunity in enterprise in order to bring complete focus, alignment and accountability in our execution.
- [23:28] What explains recent tech layoffs, and why should we be worried? - Research says layoff does not reduce cost.
- [24:10] Reason for layoff and hiring at the same time.
- [25:40] Cash reserve != lower layoff probability
- [27:00] Prioritize growth when money is cheap; prioritize “rule of 40” in today’s world.
- [28:35] Layoff patterns at team level. You don’t know the truth of the “algorithm”. Decisions happen at Director+, even SVP level. Line managers and skip managers don’t have the layoff list. Data collection before executing the layoff.
- [33:25] Meta vs Google layoff strategy difference.
- [36:05] Avoid taking on risky projects.
- [37:20] Survival tips for individual contributors
- Layoffs are random. Always have a backup plan.
- Business critical team; performance evaluation.
- Importance of organizational visibility.
- Be mentally prepared.
- Do enough people work.
- Follow the trend.
- [48:00] Macro tech industry trend.
- [52:08] Ending words.
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