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I've been chatting with some friends whose company shut down recently, basically with no warning. They are getting recruited like crazy. In my opinion that's m

I've been chatting with some friends whose company shut down recently, basically with no warning. They are getting recruited like crazy. In my opinion that's much preferable than to being left go as part of the 20% lowest performing employees. This reads like a "culling of the herd because we can use the alleged upcoming recession as an excuse" event. I'm not sure the generous severance makes up for the "you are not in the top 80%" label.

higeorge13 4y ago
Layoffs is never about underperforming employees. Whole teams or departments are usually laid off, including top talent.
- aq9 4y ago
  Not always, and not if they are competently planned and executed. I will grant you that, in the current climate, that they are probably not competently planned nor executed.
rapjr9 4y ago
It has the appearance of companies trying to cause a recession instead of waiting for one to occur. Coinbase admits it can't predict the future but are being precautionary in case there is a recession? If their plan is to take a worst case view then why not just cash out the whole company and shut it down on the precautionary principle? If this is an attempt to put a scare into workers to keep wages low it may backfire since worker shortages seem to be large and other companies may easily absorb a lot of workers, making it hard to get workers back later (and it takes time to train new ones). It could encourage people to leave on their own if they start hearing of the better jobs others are getting after being forced to leave, and it shows zero commitment to workers (so workers should reciprocate). It might be necessary to actually destroy many companies before this fear tactic can have some generic effect. People who died in the pandemic, got long covid, retired, or felt abused are probably not coming back (though hopefully long covid proves not to be forever.) Lay off workers during a worker shortage and you had better count on not being able to get them back easily.
- FormerBandmate 4y ago
  Bitcoin has crashed by 70%. The recession has come for Coinbase, they will probably lose money next quarter

higeorge13 4y ago

Layoffs is never about underperforming employees. Whole teams or departments are usually laid off, including top talent.

aq9 4y ago
Not always, and not if they are competently planned and executed. I will grant you that, in the current climate, that they are probably not competently planned nor executed.

rapjr9 4y ago

It has the appearance of companies trying to cause a recession instead of waiting for one to occur. Coinbase admits it can't predict the future but are being precautionary in case there is a recession? If their plan is to take a worst case view then why not just cash out the whole company and shut it down on the precautionary principle? If this is an attempt to put a scare into workers to keep wages low it may backfire since worker shortages seem to be large and other companies may easily absorb a lot of workers, making it hard to get workers back later (and it takes time to train new ones). It could encourage people to leave on their own if they start hearing of the better jobs others are getting after being forced to leave, and it shows zero commitment to workers (so workers should reciprocate). It might be necessary to actually destroy many companies before this fear tactic can have some generic effect. People who died in the pandemic, got long covid, retired, or felt abused are probably not coming back (though hopefully long covid proves not to be forever.) Lay off workers during a worker shortage and you had better count on not being able to get them back easily.

FormerBandmate 4y ago
Bitcoin has crashed by 70%. The recession has come for Coinbase, they will probably lose money next quarter