It’s like a microcosm in here and a good analysis of human psychology. I’ve noticed that the longer this drags out, the more stressed people become, and in turn, the more they turn on each other with nastiness. It’s no wonder that “the people” can never topple those in power. We are too busy toppling each other.
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It's awful economic times on a macro level and awful PayPal times on a micro level. Nothing good will come of this year. We're all just trying to survive until we figure out wtf is going on.
@bz agree that both sides will know if there’s a plausible deal soon, but there are big unknowns whether regulatory concerns or something else. It’s very possible pp may need to sell/spin off certain assets (eg BT). Stripe may want the whole thing but be okay with only getting branded + Venmo.
If that’s the case, then I see an effect on layoff decisions. Say for BT, you might be able to reduce some dedicated function and streamline across company if it remains in pp or sold off to another buyer, but if it’s spun off, now you need all those dedicated people again. That’s just one scenario, but something like that will depend on things that could keep on well past October.
And leadership clearly does not give a sh-t if they give us ptsd from perpetual layoff anxiety, so who knows
@b8 if it’s Stripe the offer won’t go into October. If they dont announce anything in October they moved on.
@av it could be they dont want to lay off before they settle on what assets stripe gets. Its very possible stripe is only interested in branded checkout and Venmo, in which case you dont want to prematurely lay a bunch of people off in those units. It def seems strange that they clearly planned/communicated layoffs around now but are totally silent.
If the stripe deal is the reason for delay, I expect they will drag on for several months. I care about the people on my team so I just treat it like I’m back to working at a startup, you just learn to ignore uncertainty like this.
I think for others, probably quiet quitting and interviewing makes most sense.
@af he communicate about the same
Are they not announcing layoffs because they will be announcing a sale to Stripe? I feel like layoffs get delayed when big SEC filings are close. Just a thought.
I’ve noticed this trend getting a lot worse under the current leadership team.
No buyout deal, no RIF’s, just Enrique collecting millions of dollars while lowering company value. Thanks Enrique! Good thing he recently became a US citizen so he can start collecting social security soon.
What’s everyone’s thoughts on communication from new CEO? From my perspective he’s non-existent. Did he just come in to sell the company?
@a8 At least he wasn't a personality hire like Alex
Just about everyone needs to take a deep breath, go outside and touch grass.
@a8 agreed. The CEO has been a train wreck and not we’re just clouded by a fake buyout.
I think we all just hate Enrique not each other.