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Comment by pengaru | Hacker News Reader

TL;DR (or didn't click): "We’re going to reorganize the company and part ways with around 15% of our teammates"

Lattice the "People Success Platform", not the semiconductor company and maker of FPGAs that has actually turned a profit

It’s a little more nuanced, “we were drunk on cheap money and over hired, just like everyone else with the belief growth would continue”

As interest rates plummeted to 0% and monetary policy pushed lots of money into the economy, companies had easy access to capital, and demand for products and services surged. Organizations hired aggressively to meet market demand and the war for talent reached a fever pitch. The result, for Lattice, was that growth skyrocketed.

Which is a reasonable thing to do, it probably takes 6 months to a year to get many employees up to full potential. So over hiring during growth makes sense, if you under hire, you’ll never catch up.

"I take full responsibility" /s

NB: that is not a quote from the email/article. (It's a reference to other CEOs who said that, but is not in this one.)

I wish companies would report their CEO's internal performance reviews this year. I suspect it'll be framed as making the best out of a bad situation rather than severely misjudged macroeconomic conditions.

I mean, would you prefer they blamed someone else? The C suite and the Board are ultimately responsible for over-hiring and layoffs.

I prefer that the word responsibility actually meant something.

> I mean, would you prefer they blamed someone else? The C suite and the Board are ultimately responsible for over-hiring and layoffs.

Board should automatically reduce CEO pay to $1.00 for the current and the next year every time a CEO "takes responsibility".

It's a nice thought but this would send companies hurtling towards IPOs even faster than they are already doing, and using even more tricks to pump the stock.

They will have lots of problems trying to hire the next CEO then.

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