GitHub laying off 10 percent of staff by FY23
The company will lay off 10 percent of its staff and cut down on office space by going fully remote.
As revealed by outlets like Fortune, Microsoft-owned company GitHub recently announced plans to lay off 10 percent of its staff by FY23 in addition to reducing office space by gradually transitioning to remote work. According to GitHub CEO, Thomas Dohmke, the reason for these cuts are due to “new budgetary realignments.”
“We announced a number of difficult but necessary decisions and budgetary realignments to both protect the health of our business in the short term and grant us the capacity to invest in our long-term strategy moving forward,” a GitHub spokesperson shared with Fortune in a written statement.
Not only is GitHub laying off 10 percent of its staff, it’s also reducing office space due to “very low utilization rates” with plans to go fully remote, though it’s noted that GitHub isn’t planning to vacate its offices immediately.
“We are not vacating offices immediately, but will move to close all of our offices as their leases end or as we are operationally able to do so,” Dohmke wrote in a message to GitHub staff. Other details included in Dohmke’s statement includes a hiring pause which was first announced on January 18 and continues to remain in effect.
Those impacted by layoffs will receive transition compensation and COBRA/COBRA equivalent, along with career transitions services assistance benefits. For more on GitHub’s plans to lay off 10 percent of staff and transition to remote work, be sure to read through the coverage from Fortune which includes the full statement to employees from GitHub CEO, Thomas Dohmke.
GitHub’s upcoming layoffs follows several other companies who’ve recently announced layoffs including Yahoo which plans to lay off 20 percent of its staff by the end of 2023, and Zoom which will lay off 15 percent of its workforce, or around 1,300 employees.
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replyMorgan Shaver posted a new article, GitHub laying off 10 percent of staff by FY23
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GitHub is doing layoffs, 10%
They are also closing the offices, going fully remote, plus increasing the hardware renewal period from 3 years to 4 years.
https://fortune.com/2023/02/09/github-is-laying-off-10-of-staff-and-cutting-down-office-space/-
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Yeah, my friend just got laid off today from GitHub, if anyone knows of an openings he's looking for some more work atm. He lives in Orlando, FL if that matters.
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What does your friend do?
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Can someone smart explain why all of these layoffs are happening suddenly? I don’t feel like the economy has changed all that much in recent months so what gives?
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One company does it then all the other companies follow because it drives up the share price.
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Shareholder ROI is more important than retaining labor
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Group think.
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Labor is super weak in this country
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I think a lot of companies changed (i.e., hired) to meet higher demand during covid. We also had an economy that was running arguably a bit too hot at that point, leading to relatively more disposable income. Things are cooler now and companies are wanting to maintain margins they thought they would get under a different economic climate.
Then a bunch of others think they should do it because their peers are doing it. -
timed to earnings reports usually.
layoffs often don't have anything to do with the general economy, but to the sector.
For example, during covid, tourism companies laid off everyone cause no one was travelling, airlines were going broke and tons went bankrupt.
however, during covid, everyone did online shopping so tech sector which deals with shopping / online stuff had a boom.
Now the economy is doing better, you see the money going from online shopping back to aviation / tourism / restaurant sectors, etc.
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Musk showed everyone that you can lay off most of your engineers and everything will work out fine.
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And Yahoo is laying off 20% https://www.axios.com/2023/02/09/yahoo-layoffs-2023-tech-media-companies
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Damn, the remaining four people are gonna have a lot on their plate
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Yeah, gonna be rough maintaining those news aggregator feeds!
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It's 1,600 people getting cut. Yahoo's revenue is roughly 8 billion annually.
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More like 1,600 remaining.
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Well over 13,000 people laid off this week.
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