Rampant Negativity at Yubi Part 2
Just wanted to give some updates now that it has been 1 month since the last post
- Senior Leadership from Tech (3) , a senior director from Product , Finance Head have all resigned. Strategy team has been dissolved.
- There are more people in the pipeline and will get more clarity by month end.
- Everyone over the CTC of 60 lakh has been asked about the revenue that they bring in and based on that, their position is being reconsidered.
- All contract workers have been terminated. Interns have been told that they won't be receiving PPOs.
- Senior Management Has been asked to take 20% paycuts.
- Even at Junior level, people have been asked to take pay cuts or resign.
- Lots of tools used in tech are being removed and AWS subscription has also been revised.
Meanwhile HRs have been celebrating on slack channels that Yubi has been ranked in Top 25 companies for career development :/
Talking product sense with Ridhi
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Pressure is on because they missed their revenue target massively. And next year target is atleast 3X of last year
I mean this year's target, i have also seen the valuation model. To get unicorn valuation with low actual revenue, you need to show non linear growth in revenue in future. Expect more pain to come here.
That is true, i can't unfortunately reveal my identity here. But yes i am involved in these discussions - hence i say this, we are in for lot of pain. It is just starting
Sir/Madam: Why don't you only do the next townhall? Aap Mahapurush hain
I can't lie so much with a straight face
Everything I have mentioned here is happening as we speak. You can ask anybody in the org. In one of the previous townhalls CEO said there will be no layoffs while I am here. Now we all know how credible and empathical he is. Silently several teams are getting axed.
@Shiawase why such shit decisions? don’t they’ve enough cash in bank?
Outsider take - this thread appears to be an attempt by unhappy employees (not commenting on whether they are right / wrong) to be heard by co management (assuming they are on this thread), by discouraging potential hires.
The allegations aren’t being substantiated with data, ‘till their last day with the co’. So the upset lot still clearly care about their own interests.
Personally I do think that the hiring strategy has gone terribly wrong if the firm’s own employees are on forums speaking ill, let alone wearing the jersey.
However, weaponising this platform to be heard, at the cost of colouring impressions of potential hires didn’t seem right.
While I don't know about secondary sales and other aspects that another user has highlighted, all the points that I have posted above ( regarding silent layoffs methods , cost cutting) are true and happening as we speak. This can be confirmed by anyone working in the company.
The idea of this and the previous post was to highlight the reality of what is going on at Yubi so that potential hires don't fall into the traps that HR have been spreading (' yubi a great place to work").
If anyone is curious and wants to read the 1st part, please search Yubi on the grapevine search bar and you will find it.
Link to part 1
Rampant negativity at Yubi
Hi , this post is intended to be a disclaimer to anyone who is planning to join Yubi. A lot of things are happening here that show some signs of an im...
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