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Oglethorpe
Aug 8, 2005

Seems like 2023 isn't looking so hot. Here's the thread for stock market and federal reserve number stuff

My company did 2 separate layoffs this year "in anticipation of deterioriating macro-economic conditions" and I've seen posts in various other threads about cost-cutting and layoffs right before Christmas so post here about what's goin' on in your neck of the woods or elsewhere.

https://twitter.com/ClayTravis/status/1603080894553677826
https://twitter.com/imduffy15/status/1604070471376535554
https://twitter.com/rafaturk/status/1602478615639244808
https://twitter.com/philippilk/status/1604102726320885760

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Oglethorpe
Aug 8, 2005

Koishi Komeiji posted:

My friend works for a medical company in Austin and there was suddenly a huge round of layoffs with no warning, managers included. And a rumor of another round of layoffs in April. Another big recession is coming.

Koishi Komeiji posted:

Another big recession is coming.


:rubby:

I feel like the 80s, 90s, 00s, and 10s are coming to a head and the 20s are gonna be shiiiiiiiiiiiiiiiiiiiiiiiiiit

seems like 1920-1933 germany was simply the any% practice speedrun which resulted in their (relative) crushing years later and this is the 100% go slow attempt

Oglethorpe
Aug 8, 2005

gradenko_2000 posted:

I heard it from the grapevine that Zoom is starting a "responsible spending" initiative involving cutting "non-essential expenditures" and there's already been a first wave of layoffs, and they're shutting down nearly all of their offshore offices
about 5 months ago before the layoffs we were asked to cancel zoom licenses entirely but we weren't paying all that much for them

in hindsight.... uhh that was probably a warning sign lol

Oglethorpe
Aug 8, 2005

shrike82 posted:

what i've been hearing in my computer toucher social circles is LIFO
good luck to anyone that was hired during COVID
you could probably fire 30-50% of employees in most tech companies/startups and still have more headcount than you did prior to COVID

i think LIFO is something concerning the legality of mass layoffs to protect long-time workers. a quick search shows some states require it for teachers, not sure how far it goes

Oglethorpe
Aug 8, 2005

HashtagGirlboss posted:

Yeah based on reading tea leaves I feel fairly certain I’ve survived this morning but I assume there will be another round at least if not more, knew it was coming but it’s still stressful. Been a good ten years since I’ve been through a layoff cycle…

once in a lifetime layoff cycles

Oglethorpe
Aug 8, 2005

there's 3 different headlines for the Newell cuts, the ones that mention Sharpie, the ones that mention Yankee Candle, and the ones that mention they're a Rubbermaid parent company.

Newell - 13% of office
https://twitter.com/YahooFinance/status/1617557503499190272

wonder if this is retaliation for not sending leopard tanks
https://twitter.com/markets/status/1617578043207188480

Spotify - 6%
https://twitter.com/BBCNews/status/1617585542178144268

Gemini crypto - 10%
https://twitter.com/AshiCapital/status/1617623969217105920

Oglethorpe has issued a correction as of 21:51 on Jan 23, 2023

Oglethorpe
Aug 8, 2005

laid off 11,000 people to invest in AI

https://twitter.com/WatcherGuru/status/1617526645296082945

Oglethorpe
Aug 8, 2005

War and Pieces posted:

FMLA was for "Shift Work Disorder" lmao

i guess authors can't edit post titles eh

Layoffs - Cost-cutting - C-level pokerface - Shift Work Disorder

real thing though https://en.wikipedia.org/wiki/Shift_work_sleep_disorder

Oglethorpe
Aug 8, 2005

skipmyseashells posted:

the Econ thread became enjoyable now that there isn’t weekly talks of 60k+ SUVs and constant updates on housing markets in america

here’s hoping there’s way more tech layoffs!

Mayor Dave posted:



Fertilizer shortage is real

this thread isn't just about tech

Oglethorpe
Aug 8, 2005

publications getting hit, gawker shut down

https://twitter.com/emmawebsta/status/1620859461723389953

https://twitter.com/TimcastNews/status/1620912175685713922
https://twitter.com/nowthisnews/status/1620918164027748353
https://twitter.com/scottlincicome/status/1620841466531827714
https://twitter.com/merissahansen17/status/1620830922328399872

Oglethorpe
Aug 8, 2005

https://twitter.com/WSJ/status/1623451618900410368

Oglethorpe
Aug 8, 2005

anime was right posted:

lol i was like "how old is this thread?" and i clicked on the source report here out of curiousity and saw that its gone :) :) :)

here you go

https://web.archive.org/web/2022121...2-q2-report.pdf

Oglethorpe
Aug 8, 2005

Ghosthotel posted:

got caught in this big layoff today

https://www.cnbc.com/amp/2023/02/08/affirm-cuts-19percent-of-workforce-shares-tank-on-earnings-miss.html

the scene in the group chat was kind of wild, we got the announcement of the workforce cut and we’re told that we’d find out in several
minutes if we we’re getting laid off like it was a lottery. Then whoever was in charge of revoking privileges on our work station got a little trigger happy and people started disappearing from
the work chat in the middle of being confused and asking what the hell was happening. Id already been planning on going somewhere else so it didn’t piss me off that much but uh my coworker who gives birth in 5 days was not thrilled.

what does Affirm do

also drat 20%

Oglethorpe
Aug 8, 2005

https://twitter.com/ad_investing22/status/1623707606153039873

https://twitter.com/latestly/status/1623716234469724160

https://twitter.com/FCNightingale/status/1623714737891471364

https://twitter.com/Tiny_Boxes/status/1623716426853883904

Oglethorpe
Aug 8, 2005

HashtagGirlboss posted:

I can’t speak to a Canadian cannabis company but the cannabis industry in Oregon is in absolute chaos because they’re significantly over producing and margins from growers to retailers are just evaporating. I think that’s as much a problem of no legal export market though, for example legal weed in Nevada is really crappy and expensive because it all gets grown indoors and they can’t import from CA or OR (at least for the legal market)

but cali is right next door lmao

Oglethorpe
Aug 8, 2005

https://twitter.com/latimes/status/1631750292688568334
https://twitter.com/Julinthecrown/status/1631885523722567680
https://twitter.com/GavinClimie/status/1632729416580079618
https://twitter.com/TSHuguenin/status/1632036679497252864

edit: lmao tried clicking a link on twitter and got this

JSON code:
{
  "errors": [
    {
      "message": "Your current API plan does not include access to this endpoint, please see https://developer.twitter.com/en/docs/twitter-api for more information",
      "code": 467
    }
  ]
}

Oglethorpe has issued a correction as of 18:15 on Mar 6, 2023

Oglethorpe
Aug 8, 2005

Oglethorpe
Aug 8, 2005

https://twitter.com/paulcolgan/status/1638574272145772544
https://twitter.com/WSJ/status/1637832500021010433
https://twitter.com/zachbussey/status/1637866193137672192
https://twitter.com/NorthmanTrader/status/1638496788167499778

Oglethorpe
Aug 8, 2005


https://www.reuters.com/technology/lyft-cut-least-1200-jobs-wsj-2023-04-21/

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Oglethorpe
Aug 8, 2005


https://www.indystar.com/story/news...fs/70231832007/

quote:

Byers could not be reached immediately for comment but the cuts come 1 ½ years after the company secured a $425 million investment from Silversmith Capital Partners and PSG to expand its worldwide operations.

Formstack's LinkedIn page says it has 318 employees, including 56 in the Indianapolis area. The company’s main office is in downtown Fishers, above Four Day Ray Brewing on Maple Street, but most employees work remotely.

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