They say there's 3 months of pay, healthcare, mental care until the end of the year too. And they contracted a placement company to hook people up with new jobs.
Good for Patreon to go beyond the 60-day mandated period though
[0] https://edd.ca.gov/en/Jobs_and_Training/Layoff_Services_WARN
How many times have you been laid off?!
It's pretty easy to get laid off a lot if you work in startups. You join and know there is a ticking clock in the background. If you don't, you probably should.
Every startup thinks they are the 1 out of 10 (because why wouldn't they, you have to.)
This depends on where you worked. Most of the developers I know were around for the dotcom bust, but only 2 have experienced a layoff. But none were working for dotcom companies.
In the first layoff I knew the company was planning a round in the next 18 months and I'd been there 6 years. I waited around for the payout. Layoff law in Australia is more favorable to the employee, the payout was 10 months. I took a week off before starting the next job on a substantial salary increase.
The most important is not to take it personally as a failure. That can mess with self confidence and interview performance and general well being. At my HR interview they had the team there and some "transition coach" they seemed worried about us. I was actually thrilled as I planned to leave anyway.
The "2022 financial crisis"? That's not even a thing. Slowing economic growth and even a recession, should we enter one later this year does not constitute a "financial crisis."
There has been no "redefining" nor is it a recent phenomenon nor does it have political roots. You are wrong on all accounts.
It doesn't have political roots. The National Bureau of Economic Research(NBER) is a private, non-profit, non-partisan research organization with an aim is to promote a greater understanding of how the economy works.
The nonpartisan panel, which was established in 1978 by former Ronald Reagan adviser and NBER president Martin Feldstein, has gone out of its way to keep politics out of the process.
The committee meets in secret and doesn’t announce its gatherings in advance or even in retrospect, unless there’s a press release declaring a formal decision.
And it typically takes the panel about a year to decide on a recession call, though some decision have been made in a few months while others have taken almost twice as long. That’s almost always well after a recession has been widely recognized by Wall Street.
The committee has never reversed a call.
Rather than two negative GDP readings, the NBER is looking for a substantial decline in activity over a sustained period of time. The committee sets dates of the peaks of economic activity and troughs based on six monthly data series, including nonfarm payrolls, personal consumption spending and industrial production.
It's pretty spectacular though that not only have been able to declare that were in one but you are also able to comment with confidence on how bad it's going to be be.
Saw the writing on the wall for each of those and left before I was the one laid off.
I worked in an industry that's highly cyclical and had major consolidation over the last decade (HDD/SSD storage). We bought several companies and they would do layoffs roughly every 18 months or so.
It's the nature of playing around in the high stakes startup world. As I've gotten older I've found more stable companies. But it was quite funny coming home once every few years to tell my girlfriend I was laid off again and then picking up another job a week later.
Not only that, all former employees are de-facto "background check references" / "evagenlists" / "detractors" of your company. Forever! (well, not exactly forever... but close enough)
I can't recall a single year over the last 10 years where younger engineers, cousins, nephews or friends have asked me about the 2 companies I worked at before.
And boy, have I been candid.
Talked a very good friend of mine from joining Amazon for an offer he got making nearly 3 times much I did. All because of "decency" (or lack thereof) of a company.
Is this supposed to be haven't?
https://retailwire.com/discussion/there-might-soon-be-no-one...
I actually went out of my way to make it easy for my employees to quit. If they didn't want to stay, then I sincerely wished them well.
The company limited what I could do, but I did my best, and it seemed to work out.
That said - I've held off on any criticisms around their strategy/execution for the moment (aside from that) since it's unclear what happened. I'm wondering if Patreon is getting hit with lots of people backing off support of artists after a big jump due to the pandemic.
Given inflation and a lot of feelings of uncertainty around the economy, it wouldn't surprise me to learn that their revenue went way down in a hurry this year.
I back four artists on Patreon, down from five a year ago. In all 4 cases I'm either too busy to get full "value" out of sponsoring (e.g., I don't have time to read the updates or listen to all the demos), or there's not really any benefit other than funneling money to support the artist in hopes they'll continue working as an artist.
Each month I look at the bill from Patreon and wonder "do I really need to keep spending this money?" So far I've elected to - but I haven't been hit super hard by inflation or a layoff like many folks...
You're right!
That said, by the time a company is large enough that 17% of it is more than 17 people the kind of startup organization you have wisely and correctly nodded to will have ceased to exist.
So while you are right in that such scenarios have, do, and will continue to happen there's perhaps cause to wonder if that's really the best way to characterize replacing a security organization with specialists with a bunch of engineers who are likely quarter-time security at best. It's akin to firing all your engineers because the sales people can do a little bit of coding each.
Not really. A lot of stuff having moved to services, a lot of stuff being handled in 'no code' manner have simplified organizations a lot these days. Today you can just offload a lot of things to SaaS vendors that can automatically handle those stuff. Instead of having to have entire teams dealing with it like how it was in the earlier decades. You just need a host of capable people to deal with those services on your side, by wearing various hats. So the 'startup format' seems to have become extended to larger organizations.
Everyone should note the companies that do brutal layoffs with little/no severance. It's a major red flag because it shows incompetence and/or a lack of ethics.