How many people will be getting told they're part of it? I would suspect this will be hanging over their heads as an unknown element. Is it even possible for HR to manage off-boarding 17% of the company within a month?
> Earlier today, CEO Daniel Ek shared the following note about the company’s organizational changes with all Spotify employees.
> ...
> you will receive a calendar invite within the next two hours from HR for a one-on-one conversation. These meetings will take place before the end of the day on Tuesday
Exactly a formality, something that has to be done. How are they going to handle that in 48 hours? To me, it's a sign that some people get to know straight away and some will find out later.
Severance package is 5 months and Q1 will have no shortage of new job postings elsewhere. Yes this is probably not great for mental health but financially they should be fine.
Having looked at the job market, there are less job postings currently than in previous years.
While overall there will still be more jobs than qualified people to fill them. Let's not pretend like the employee market is full of people who've just been laid off from very reputable companies.
Tech workers need to stop working for corporations they don't own, aren't seeing the profits of, and who will just throw them away at any moment. The solution are businesses in the form of employee-owned co-ops and organized labor.
Tech workers are one of the few W2 employees to see any profits from ownership, hence the compensation in RSUs and stock options. Also, anyone with investments in the public equity markets (like most tech workers earning high salaries) receives gains from the profits.
