WANT TO LAY OFF WORKERS MORE SMOOTHLY? THERE'S A STARTUP FOR THAT

  • 13 Aug - 19 Aug, 2022
  • Mag The Weekly
  • Mag Files

You might have heard about the fintech company Klarna, whose CEO recently played a prerecorded video at an all-staff meeting to tell his employees that many of them were about to be laid off. The company then made them wait for up to two days, in agonising suspense, to find out whether they were the ones getting axed. Delivering the bad news with a boilerplate script as if they were robots, Klarna's HR execs ended up sacking about 700 workers – 10 per cent of its workforce – via video calls. The calls two to three minutes, and no questions were allowed. Ouch. Sacking stories like this seem to be everywhere these days, as the tech industry grapples with nosediving valuations, stingier venture capital, and an economic slowdown. Big names like Tesla, Microsoft, Netflix, Coinbase, Lyft, and Twitter are cutting workers loose. But there's at least one startup that is thriving in the market turmoil. And it's sort of the perfect metaphor for the current state of tech. The company is called Continuum, and it's cashing in at layoffpalooza. "We were not thinking about creating a layoff product when we were founding the company," says Nolan Church, Continuum's CEO. But now, if you're a startup that wants to lay off workers, this new startup can help you with that.

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