Blind TL;DR Edition No. 42: Week Ended Aug. 26, 2022
Blind TL;DR helps you stay on top of what shaped the tech industry this week in about 3 minutes. Keep tabs on the latest with insights straight from the newsmakers—technologists like you.
The slowdown continues
Dozens of recruiting contractors that source candidates and help hire data scientists and engineers at Google lost their jobs. The internet giant has said it would slow down hiring for the rest of the year.
Find out more about the job cuts on Blind.
Another bust
What goes up must come down, as Wayfair employees learned this week. Once a pandemic darling, the online retailer has struggled and cut about 900 jobs. The layoffs affected departments worldwide, including engineering and tech teams.
Second thoughts?
Last year, Stripe bought TaxJar to help companies with tax compliance. Now, it seems like there is some buyer’s remorse. The payments giant laid off about 55 people from the tax compliance startup and will now stop marketing the product. Before the acquisition, TaxJar had about 200 employees, all of whom joined Stripe.
Some people on Blind think more layoffs might be on the way.
Another discount
Pre-IPO startups have also been hit hard by the drop in tech stocks. The giant investment firm T Rowe Price reduced the value of its holdings in Instacart to less than $72 per share, a 40% markdown from the mutual fund’s previous valuation of the grocery delivery app.
Check out how employees are reacting.
How many employees do they have?
Better Mortgage found another way to lay off employees and mess things up again. The embattled fintech startup plans another round of layoffs, the fourth in less than a year. Some employees lost their jobs early this week after an internal leak showed they were on the firing list.
Read more about the leak—only on Blind.
Read this if you’re switching jobs
We’ve all heard of the Great Resignation, but have you heard about the Great Regret? Some people feel they’ve made a mistake after switching jobs, and others even want to return to their previous company. But you don’t need to feel regret if you’re job hopping.
Be a newsmaker
Make an impact with your work. The top companies in the headlines are using Blind to grow. Find out how you can get an offer from some of the most innovative and fast-growing companies.
