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6min chapter
Being a Better Manager & Understanding the Past — with Dolly Chugh
The Prof G Pod with Scott Galloway
Are We Going to Have Massive Layoffs?
Stripe is lying off 14% of its workforce. Open door is letting go of 18% of its staff. I'm convinced that company is beginning to rig a mortise and we're starting to hear a death rattle there. It wouldn't be unreasonable to think that in the next couple of years, Meta might shed 30 or 40,000 employees. We have over hired massively in the part of the economy that has been the gift that keeps on giving. The coal we shovel into the furnace just tripled or quadrupled in cost as interest rates rise.
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