Ask HN: What are the lockdown factual impacts on your job?

2 pointscyrillevincey2 comments

There is a lot of buzz around the current and future impacts of the lockdown on the economy. Everything looks mostly macro-level guess play. How has the lockdown impacted your own company business, and how has it impacted your own job?

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Engineering got 5-20% pay cuts, (50-100% at VP level and above), all perks cut, all the contractors got laid off, as did anyone low-skilled in Ops who has been there less than 2 years.

We are the UK arm of a US fintech.

The market is in trouble.

> The market is in trouble.

To elaborate on this,

1) Banks are worried people won't pay their mortgages/loans/cards and they will crash 2) Banks therefore don't buy our stuff, or will seek to pay less for it. 3) We therefore look to cut costs

Everyone is taking the cuts, because there aren't any other firms recruiting right now.

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Ask HN: What are the lockdown *factual* impacts on your job?

Ask HN: What are the lockdown factual impacts on your job?