Stripe just laid off 14% of the total headcount
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https://economictimes.indiatimes.com/nri/migrate/bill-providing-green-card-pathway-introduced-in-us-congress/articleshow/94521967.cms
@esg+1jwg43VA Believe it, they’re just not jobs that can be offshored like most of ours. Restaurants and just about all retail are desperate for workers. I live in a very tourist based city (not NYC) and hotels are advertising on billboards looking for everything from housekeeping to management.
Who?
But Bloomberg reports there are 10 million open jobs and not enough workers today?
https://www.bloomberg.com/opinion/articles/2022-11-01/immigration-and-education-are-key-to-fixing-the-us-supply-chain
https://www.bloomberg.com/news/articles/2022-01-20/fed-officials-argue-higher-immigration-could-ease-labor-shortage
Traditional banking is now considered a “safe haven” for employees - fintech was always overrated
https://stripe.com/en-au/newsroom/news/ceo-patrick-collisons-email-to-stripe-employees
- * Severance pay. We will pay 14 weeks of severance for all departing employees, and more for those with longer tenure. That is, those departing will be paid until at least February 21st 2023.
- Bonus. We will pay our 2022 annual bonus for all departing employees, regardless of their departure date. (It will be prorated for people hired in 2022.)
- PTO. We’ll pay for all unused PTO time (including in regions where that’s not legally required).
- Healthcare. We’ll pay the cash equivalent of 6 months of existing healthcare premiums or healthcare continuation.
- RSU vesting. We’ll accelerate everyone who has already reached their one-year vesting cliff to the February 2023 vesting date (or longer, depending on departure date). For those who haven’t reached their vesting cliffs, we'll waive the cliff.