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I'm on a slightly similar position and woke to a rude awakening when a few people in my company were layoff. Even though I'm not really afraid about my positio
by saltbush23 4y ago
I'm on a slightly similar position and woke to a rude awakening when a few people in my company were layoff. Even though I'm not really afraid about my position in that company, that event really prompted me to look deeper into the financials of my company to try to understand why that happened.
I came to the similar conclusion that we see on NASDAQ, growth companies, i.e. dependent on debt, are struggling. But also, they seems to have been dancing all along at the edge of the blade, posting loses quarter over quarter, burning through cash and pilling on debt.
So with that on mind I decided that, not only based on the market, but on my personal concept of a healthy business, I didn't wanted to be part of such company. I have no doubt that the company I work at will get through this but I don't really want to stick around either way. So, I see the rescission more as a shaking and it has showed me things that I wasn't aware of before.
I'm currently talking to a couple of companies and the criteria is established companies that are posting profits, lean towards the "boring" side of "things are working and we just need to keep up" instead of "ready to revolutionize X industry with Y product".
The market for hiring is still really hot judging by the emails from recruiters that I've received over the past few days after my company's layoff came to light (~40-50 in a week) so is not a terrible time to explore options and find some place that you feel comfortable at
The comments in this post [0] where super helpful for me. TLDR; cash is king.
[0] <https://news.ycombinator.com/item?id=31386994 https://news.ycombinator.com/item?id=31386994>.