Layoffs Accelerate Across Silicon Valley Startups | Hacker News Reader

Layoffs Accelerate Across Silicon Valley Startups

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25 pointsotoburb10 comments

This is a good time to get familiar with your rights in a lay-off - especially how severance works, what happens with you health insurance and what to sign/not to sign on your way out. Even if you feel it won’t happen to you, read this. Layoffs are extremely sudden and it helps to be prepared : https://candor.co/guides/layoff

I wish I had known this. I had a few months of advanced notice, and I had no idea that commuter benefits just go poof on the last day of employment. Lost about a $1k in that.

And additional point I'd add to this list, especially for those on H1b visas, if you are not getting any severance and no notice period, then the employer is liable for your move back to home country. I didn't know about this option nor do I know anyone personally who got this. If anyone can share info on this, that'd be great.

And then you have VCs like this: https://twitter.com/pitdesi/status/1241382507226050562 Who want to take the opportunity of the crisis to inflict pain on workers. Here, a VC suggests 10 or 25% paycuts for employees so "employees feel a bit of the sting that their customers are feeling"

Employees feel a bit of the sting Employers/investors only want the $cha-ching$

Surely many people would prefer a 10% cut rather than being laid off outright?

Pretty sure unemployment doesn't cover 90% indefinitely, and they did promise to make everyone whole (which should be put in writing, but still)

> they have $$$ but thinking of cutting

Seems like they just want to cut so that

> employees feel a bit of the sting that their customers are feeling

Toxic. Employees would do better to leave ASAP.

Even if you can ace all coding interviews and can scale things to dyson sphere levels, you should consider a back up job during this crisis. Reconnect with some folks you haven't spoken to in a while, and ask how they're doing. Do a little research over a couple of afternoons.

“75 people across all four, ranging across both technical and nontechnical job roles”

Do we need f*dcompany.com yet?

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