Stitch Fix to Lay off About 1,400 Employees in California

Re:Stitch Fix to Lay off About 1,400 Employees in California by Spooky23 on Tuesday June 02, 2020 @09:52AM (#23390981)

It makes sense. If you're not looking for super high-end tech talent, there is no magical advantage to paying California salaries so that people can spend every dime on housing.

I skeptical of most of the tech stuff too -- fewer tech roles require the skillsets/social connections only found a big tech hub than in the past. For many years, IBM was able to run successful tech operations in places like Minneapolis, Austin, Binghamton NY, Hudson Valley NY, North Carolina, Tampa, etc.

The median home price is Pittsburgh is literally 90% less than many California locales. Even with a 40% pay cut, in many professions moving to one of these places will be a neutral in terms of money and probably a positive impact on the employee's quality of life.

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Re:Stitch Fix to Lay off About 1,400 Employees in California by halflings on Tuesday June 02, 2020 @11:11AM (#23391846)

> The median home price is Pittsburgh is literally 90% less than many California locales.

Can you give some data around this? 90% seems like a hyperbole. Or are you comparing the most expensive zipcode in the bay area (e.g Atherton) with the cheapest in Pittsburgh?

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Re:Stitch Fix to Lay off About 1,400 Employees in California by Spooky23 on Tuesday June 02, 2020 @12:42PM (#23393010)

I didn't do a study of real estate valuation. I googled "real estate palo alto" and "real estate pittsburgh" and grabbed the number from the first Google results. (realtor.com)

I can tell you that I live in a small northeastern city, and a 3 or 4 bedroom mid 20th century, single family house is around $130/sqft in a nice neighborhood. In the burbs, it's about $150/sqft. When your mortgage+taxes is <$15k/year, you don't need to make crazy salaries.

I don't know bay area real estate, so looking at Gilroy, CA, which would be a hella commute to SFO, you're looking at $400-450/sqft for 3/4br single family. That's alot of cash.

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Re:Stitch Fix to Lay off About 1,400 Employees in California by dodo6502 on Tuesday June 02, 2020 @11:41AM (#23392224)

My friends just moved to Pittsburgh and bought a great house for 108k. This is literally 95% less than a comparable home in Silicon Valley.

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Re:Stitch Fix to Lay off About 1,400 Employees in California by thorwasdfasdf on Tuesday June 02, 2020 @01:18PM (#23393477)

and he probably got a backyard with it too. In CA, you don't even get that. Why pay 1 to 2 million dollars in CA for a house when you can't even have a backyard?

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Re:Stitch Fix to Lay off About 1,400 Employees in California by david38 on Tuesday June 02, 2020 @12:59PM (#23393235)

I moved to Cali from Illinois. These numbers look correct. A similar, but smaller property was MORE than 10x greater in California.

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