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Very unfortunate but it does happen. I worked for a company where we had recruited 10-15 summer interns, they had already accepted their offers and we had start
by treesknees 4y ago
Very unfortunate but it does happen. I worked for a company where we had recruited 10-15 summer interns, they had already accepted their offers and we had started planning who was joining which teams, and then our finance department decided we couldn't afford to bring them in, so we had to rescind the offers.
It was pretty embarrassing professionally, and we actually didn't go back to the 3-4 universities from where they were recruited from for several years. Hopefully those kids ended up finding something else that late in the intern-recruiting season...
- jjeaff 4y agoSure, mistakes happen, but there are different ways to fix those mistakes. Perhaps someone in the finance department should have lost their job in order to pay for those internships.
- mingus88 4y agoThat's just not how startups work. The entire phase startup of company is growth growth growth so any indication of that trajectory slowing/stopping is death. It's always coming overnight with no forewarning just due to the nature of it. There is no maintenance mode to pivot staff to, because there is no customer base or revenue yet to keep them afloat. The finance people are going to be far more valuable to the existence of the company at that point than any cohort of interns so it's silly to suggest that they should prioritize undergrads with no experience to the actual financial professionals who need to restructure how the company will operate moving forward.