Re:Shopify to lay off 10% of workers in broad shake-up
by acatton on Tuesday July 26, 2022 @11:30AM
(#32239700)
I believe that you're biased by HN, since a lot of the discussion here revolve around over-valued VC-money-roided-up startups burning millions of dollar per months.
If you're looking at big tech, telco, banks and finance, there are a lot of companies where headcount waste is offset by revenue. Many of which are even making profits. According to wikipedia, shopify had a net income of ~$3B for ~$5B of revenue in 2021.
Re:Shopify to lay off 10% of workers in broad shake-up
by beambot on Tuesday July 26, 2022 @02:29PM
(#32242012)
SHOP: $4.8B in trailing 12-month revenue, growing 70%+ YoY for last few years and $250M in positive free cashflow.
They're likely predicting eCommerce growth slowing a bit (combination of post-COVID & reduced consumer spending), so pushing for better fiscal discipline & improving net margins going forward.
This is the problem. IDK about Shopify specificially, but a lot of these companies don't have revenue, or it's far from offsetting their expenses. That was OK as long as more venture funding was readily available; today that's not the case.