A recent layoff at an Indian IT startup has sparked outrage on social media after 19 employees were abruptly let go via video call, citing a lack of funds. The sudden and unceremonious nature of the layoffs, without prior warning or communication, has drawn widespread criticism. According to the employee who shared the post on Reddit, the CEO of the four-year-old tech firm called a video meeting on a typical workday to inform staff that the company was shutting down due to financial constraints.
In the post, the startup employee shared that their day began like any other, but the CEO called an urgent all-hands meeting, revealing that the company had run out of money and was shutting down immediately. The employees were informed that they wouldn't receive their salaries for the month and were instructed not to report to work the next day, following the sudden withdrawal of all investors. The online meeting left the staff shocked and seeking answers.
"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. And just like that, a four-year-old startup was gone. Nineteen people, myself included, are suddenly out of a job," the employee wrote.
See the post here:
Our startup shut down overnight—19 of us lost our jobs
byu/Traditional-Knee-834 indevelopersIndia
The employees are still grappling with the sudden loss of their jobs, struggling to come to terms with the reality of the situation. Despite the company's struggles, there was no prior warning, no gradual layoffs, no bridge funding, and no indication that the company was in trouble.
The user also expressed uncertainty about the CEO's assurance that he would leverage his network to help the laid-off employees find new jobs. "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. I'm posting this partly to process everything, and partly to hear from others who've gone through something similar. How did you handle the shock? How did you bounce back?" the employee added.
The post has fueled outrage, with many expressing shock and dismay over the startup's handling of the situation. Many also shared their own experiences and empathised with the user's situation, encouraging him to find new opportunities.
One user wrote, "I was in the same situation in November. I remember waking up in the morning and thinking that today I'll complete this task, and I won't have any Jira tickets left for this sprint and will enjoy it now. But suddenly, in the standup, my CEO informed us that investors have asked us to shut down all operations in a month, so we have only one month to find new jobs. I was shattered as it was my very first job. It took me 2 days to even process this, and then I started working towards getting a job , it took some time,e but I got a job. So I think don't lose hop you'll get somethin,g just give it some time and trust the process."
Another commented, "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."
A third said, "I have been through this. First reaction and the one that lasts is SELF DOUBT. Trust me OP, this shall too pass. Opportunities arise out of nowhere. For now, keep belief in yourself alive. It is tough time for sure. But keep fighting."
