Well, new life experience for me. I took a job at a startup in the ed tech field around 3 years ago. Yesterday, I found out that that time was coming to an end. Around 25% of employees were laid off (300ish out of 1200ish) including me and my entire team.
They're venture-capital funded, and while I wasn't entirely surprised that layoffs were coming given some pretty rough financial headwinds this year, I wasn't at all expecting them to just cut my entire function. Kind of surreal.
I knew that startups were notoriously shaky when it comes to stability, and though it sucks to see it come to an end so abruptly, I suppose it's nice to have made a lot of money off of a bunch of investors. The severance package is, honestly, kind of crazy (4 months pay + 6 months paid health insurance + my laptop + free online classes + a plethora of job placement services). Thanks, VC funds!
In the end, I don't regret anything, but it's a very weird feeling to be out of a job for the first time since I was probably 14. It's hard to know what to do with myself, though I figure my "job" becomes job hunting...next week.
No need for sympathy - I'm actually kind of excited to look for something new. I'll at least have plenty of time to try and fail to fix my shit over the summer. :-) [Reply]
Originally Posted by DaFace:
Well, new life experience for me. I took a job at a startup in the ed tech field around 3 years ago. Yesterday, I found out that that time was coming to an end. Around 25% of employees were laid off (300ish out of 1200ish) including me and my entire team.
They're venture-capital funded, and while I wasn't entirely surprised that layoffs were coming given some pretty rough financial headwinds this year, I wasn't at all expecting them to just cut my entire function. Kind of surreal.
I knew that startups were notoriously shaky when it comes to stability, and though it sucks to see it come to an end so abruptly, I suppose it's nice to have made a lot of money off of a bunch of investors. The severance package is, honestly, kind of crazy (4 months pay + 6 months paid health insurance + my laptop + free online classes + a plethora of job placement services). Thanks, VC funds!
In the end, I don't regret anything, but it's a very weird feeling to be out of a job for the first time since I was probably 14. It's hard to know what to do with myself, though I figure my "job" becomes job hunting...next week.
No need for sympathy - I'm actually kind of excited to look for something new. I'll at least have plenty of time to try and fail to fix my shit over the summer. :-)
Sorry to hear about this DaFace but I have little doubt that you will land feet first....
Use all your contacts/peers....you'll be surprised at what and who they may know..
I had varied luck with Headhunters....some were great and helped me a great deal but others just wanted another name in their "rolodex" be it real or virtual.
BTW....4 months severance isn't out of the norm these days...companies just see it as the cost of avoiding grievances/nuisance suits. What was an eye catcher for me was the paid insurance....that is gold. [Reply]
Originally Posted by Rain Man:
I don't know how good he is at golf, but it looks like he could win some good money in tournaments if he has a strong game. He should sign up for them.
DATE TOURNAMENT WINNER'S SHARE
June 6-9 the Memorial $4 million
June 20-23 The Travelers Championship $3.6 million
Aug. 15-18 FedEx St. Jude Championship $3.6 million
Aug. 22-25 BMW Championship $3.6 million
May 30-June 2 RBC Canadian Open $1.692 million
June 27-30 Rocket Mortgage Classic $1.656 million
Jan. 24-27 Farmers Insurance Open $1.62 million
July 11-14 Genesis Scottish Open $1.62 million
July 25-28 3M Open $1.494 million
Aug. 8-11 Wyndham Championship $1.422 million
July 4-7 John Deere Classic $1.404 million
July 18-21 Barracuda Championship $720,000
:-) That is a huge step up from the $5 we were playing for. [Reply]
That sucks, DaFace but at least you got a really nice severance. Good luck in your future endeavors. I'm sure you will land on your feet just fine. [Reply]
The company I work for has laid off a big percentage of employees recently. Seems weird watching people you've known for years walk out the door. They get a severance package as well but I know it's still a shock for them.
