NetApp ditches 8% of staff as customers put away wallets NetApp is laying off roughly eight percent of its workforce following the downturn in customer spending, adding to the employment bonfire raging across the tech industry. According to NetApp's 2022 annual report, filed in April last year, it employed around 12,000 people globally so the workforce redundancies could equate to …
While the process of an unceremonious lay-off with all its consequences can be traumatic, I would hope that some of those affected manage to channel their experience into starting that business they have wanted to for a long time, but have not taken the plunge.
A heart-felt good luck to those who do!
They will need that luck, because 9 out of 10 new businesses fail the first year. That's 90%
Of the remaining 10%, almost half of those fail within the next five years. Half again fail within 10 years.
The lottery is almost a better investment. Personally I'd go with a well respected fund investment.... and the lottery.
Jokes aside, a part time side business is the safest route if you want to start a business.
Taking direction from His Highness Elon, the Magnificent and his commands to those who remain at Twitter.
I would cross the road to avoid him and his cult of 'Elon can do or say no wrong. He is always 100% right over everything' fanatics.
Down vote this all you like but he's becoming more like his Guru, Donald No 47 in waiting Trump.
I know it's not as eye-catching a headline as "More Layoffs!" but it's worth noting there are still places posting jobs and even hiring.
It may come as a surprise to some folks, but there are other (and maybe even better) places to work than Twitter, Google, and Amazon et al.
And while it may feel devastating to anyone who has gotten laid-off, because it's often a shock the first time you learn the company doesn't love you back, it's a tough but valuable lesson.
So take your severance package, use whatever time you need to re-group, and know that you're probably better prepared for the next one when you're ready.
To quote:
https://www.latimes.com/business/technology/story/2023-01-30/column-how-big-tech-is-using-mass-layoffs-to-bring-workers-to-heel
“Controlling labor costs via periodic layoffs is like breathing for Silicon Valley: cyclical, necessary for life,” Malcolm Harris, author of the forthcoming book “Palo Alto: A History of California, Capitalism and the World,” told me. The layoffs, Harris says, have “very little to do with long- or even medium-term strategy except as it pertains to cultivating an insecure workforce.”
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