3 ms·
I mean, losing money is a great way to kill your company. What's better: cut 10%, lose money, people leave, cut 10% more, still losing money, more people leavi
by foobarian 4y ago
I mean, losing money is a great way to kill your company. What's better: cut 10%, lose money, people leave, cut 10% more, still losing money, more people leaving, cut 10% more, still losing money, more people leaving. Likely at 50% now with no pivot and bad morale. Compare to cut 70% + some people leave, but now you can hopefully do a major pivot and do better?
- mcguire 4y agoCould anyone give, say, 3 examples of that happening?
- danrocks 4y agoI don't know what "that" refers to, but I was at Nokia for a long time while they did 5,10,15% layoffs and it did destroy the morale, people started running for the hills as soon as they could. AirBNB did a 25% one-off layoff and is now doing fine. I don't know of any 70% layoffs but I tend to agree that cutting once and hard is the best approach, given what I experienced with paper-cut layoffs.
- allanmacgregor 4y agoHopper during the pandemic cut down 70% in multiple layoffs. Later that year they hit $3.5B valuation https://techcrunch.com/2021/08/17/hopper-raises-170m-on-3-5b-valuation-as-travel-surges-and-its-fintech-tools-help-offset-variant-concerns/ https://techcrunch.com/2021/08/17/hopper-raises-170m-on-3-5b...