A social media outrage has sparked over a layoff at a startup. An IT startup firm reportedly laidoff 19 of its employees abruptly over a video call, citing the lack of funds as a reason. While layoffs are a new norm in the IT industry lately, the sudden announcement of the process without any prior warning or communication has got everyone outraged.
The post, which was shared by a Rust developer on Reddit’s r/developersIndia forum, aims to highlight the volatile nature of the startup ecosystem. The sudden shutdown was attributed to a complete depletion of funds after all investors allegedly pulled out.
According to the Reddit post, the announcement came during an urgent all-hands meeting where the CEO informed employees of the immediate closure, instructing them not to report to work the next day. The news reportedly came as a profound shock to the staff, as there had been no prior warnings, layoffs, or any communication indicating the company was in financial distress.
“It was supposed to be just another normal workday at our (now former) startup. But around midday, we all got an unexpected email from the CEO calling for an urgent all-hands meeting. In that meeting, he told us something none of us saw coming: the company had completely run out of money. We wouldn’t be getting paid this month, and effective immediately, the company was shutting down. All of our investors had pulled out. He told us not to report to work the next day,” wrote the young employee.
“And just like that, a four-year-old startup was gone. Nineteen people, myself included, are suddenly out of a job,” he depressingly added.
The affected Rust developer, who initiated the Reddit thread, expressed deep shock and uncertainty, seeking advice on how to navigate the unexpected job loss. “It still hasn’t fully sunk in. We had our struggles, sure, but there was no warning. No layoffs. No bridge funding. No communication that we were in real trouble.The CEO said he’d try to help us find new roles through his network, but honestly, I don’t know how much to count on that,” wrote the young ex-employee.
Social media was sympathetic
While the post initially sparked outrage, a lot of people shared similar experiences with their past experiences with startups as well as larger MNCs. “I was exactly in this situation last month. I know how overwhelming it feels right now. Take some time to process it. Reach out to HR, they probably know people with openings for your experience, although chances might be small. Update your profiles, have some open source projects you can showcase on github. Keep applying,” wrote one Reddit user.
“Don’t worry its a part and parcel of IT life. I too faced a layoff in my 1st job and it was one of the WITCHAs. Everything was going fine when the Great Recession shattered whole world,” wrote another user, referring to the Great Recession.
“Relax OP, you will get a job. Notch up your skills and also start preparing for interviews. Actual work and clearing interviews are two different things. So focus more on interview preparation. Ask AI to make mock interviews for you and dedicate max time in interview preparation alongside keep applying. Cold mail HR ( get emails from linkedin ) 3-4 time a week to same HR. Daily 15 mails,” wrote another users, helping with advice.