Alper Yurder’s Post

Layoffs have been plaguing the tech industry since the start of 2023 — and for many companies, the cuts have continued into 2024 and aren't over. Ironically, companies haven't been slowing down on innovation, with many releasing a constant stream of AI updates and product launches. So why are industry-wide layoffs so widespread and ongoing? We took a look at what CEOs have said about staff cuts to help us understand why it's still going on. Read more in Business Insider https://lnkd.in/ep8PCYea

Here are some clever data visualizations that put Tech layoffs in context.

In 2024 I have talked with more founders and CRO's than ever before. There's an alarming trend I think we need to pay attention to: RevOps is changing. 🚨 We lost about 1,000 people in the profession according to Haris Odobasic and his research - layoffs have impacted our teams. Many RevOps teams are smaller with fewer resources None of us are spending money on "luxury" tools anymore and there's more tech stack scrutiny than ever. In SF this week I spoke with 3 different founders who have built RevOps tools but are now pivoting to sell to either IT/Security, Sales, or Finance. For me -- what this equates to: 🚨 RevOps doesn't have the buying power that people might think it does. They are still going to heavily influence all tech decisions. But they're not THE BUYER. 🚨 So what do you do about this? ... As a vendor looking to support efficiency and growth, you must make the problem BIGGER than RevOps. Nobody will buy a tool that saves RevOps time. I'm sorry, but that's not a good enough reason. Make sure your platform addresses a huge business pain. And do it fast. This will cause a lot of separation in the market heading into 2025. Do you agree? What are you all seeing? 💡

Mallory Lee with some strong insights here! Let's go further than all of the budget issues. Unless you can help a business unfurl its GTM motion, identify the deltas between reality and goals, and pinpoint the solutions to help close those gaps...you won't successfully support RevOps pros. It's not about tools. It's about the processes that increase goal attainment, the people that execute those processes, and the tools that enable them to execute efficiently. If you don't address in that order, you're destined for churn.

Customer Success hot take 🚨 Boards love layoffs 💀 It feels like it every time I read the news; another tech company has announced more layoffs. If you think a board answering to shareholders won't cut you and your team without more than 5 minutes of discussion, then sadly, you're wrong. Share prices tend to jump after layoffs are announced, which means CSMs need to be more commercial and numbers-focused than ever 📈 📉 💲 Many analysts say the tech and SaaS economy is going to get worse before it gets better. Translating traditional CS metrics such as usage to £$ will be critical in 2024.

On This Week in SaaS, we're thinking about what Outreach's recent layoffs could mean. Outreach laid off 9% of its workforce (over 65 employees), mainly in go-to-market roles. This is the 6th layoffs in the last few years. And it comes just months after their CEO Manny stepped down. In a space with so much competition, Outreach's competition has increased, from Gong, to Apollo and even coupled solutions like Clay + Integrations. These things signal a PE buyout to me. A little history/facts: * Outreach was founded in 2011 and pivoted from a recruitment startup called GroupTalent, so really it wasn't until 2015 that Outreach really is what we think of today. * At its peak Outreach had more than 800 employees (may be higher but this is the highest figure I could find) * Their last major funding round was $200 million in June 2021, which valued the company at $4.4 billion. Perfect timing of a raise. * The company appointed a new CEO, Abhijit Mitra, in September 2024, replacing co-founder Manny Medina. And this makes me feel like all lists are BS, because this year it got named Fast Company's Most Innovative Companies in the enterprise category. Sure they've had AI features launch, but not sure I would place them on the same list as Perplexity, Nvidia, OpenAi and lol Taco Bell.

I believe it's fair to say that for many of us in business, almost finished Q1 has presented its share of tumult, being rocky....compared to Q42023. 👀 From dwindling team morale due to spreading layoffs, pervasive doom and gloom headlines, to customers clutching their purses tighter, and the unsettling trend of projects being axed to preserve cash. It's been a rough ride, to say the least. 😓 In the hunt for a miracle cure, we've seen it all: - Investment in external trainings 📚 - Splurging on new productivity tools ⚙️ - Tightening the reins on KPIs (e.g. make those 20 self-prospecting calls, team! 😂) - Overhauling sales pitches to echo the latest sales sage on LinkedIn 🗣 While these strategies have their place, let's not overlook what truly matters—making our teams feel genuinely valued and supported. 🌟 Here's how: ✅ Respond to their messages swiftly—10 minutes, not 10 hours ✅ Show initiative in their career growth, don't wait for them to come to you with promotion talks ✅ Prioritize their wellbeing, inquire about their mental state before delving into business discussions ✅ Give them space to air grievances, even if it means extending a 30-minute check-in to an hour of empathy and understanding Remember, you could be the most skilled strategist with the latest tech at your disposal, but without your team's dedication, you're at a disadvantage against a rival armed with nothing but enthusiasm, a simple script, and Google Sheets. 📈 Demonstrate your care, and watch the results roll in. Your concern and support can be the very lever that turns the situation around. 👇 Drop a comment below and let's exchange thoughts. Let's learn, support and grow together. 🌱 #BusinessGrowth #TechInnovation #AI

🚨 Tech layoffs: the real reasons and consequences 🚨 We've all seen those corporate statements claiming mass tech layoffs are part of a plan to fuel growth. Let's be honest – that's just not true. Here are the actual reasons behind these layoffs: The lie about layoffs for growth: Layoffs do not lead to growth, despite what companies claim. This reasoning often hides deeper issues within the company. Misunderstanding AI: Many people think they understand AI, but they don't. AI won't replace all knowledge-based jobs, and expectations are often inflated. Investors and boards took too many risks: Investors and boards spent money on AI without balancing their books. This led to financial issues and the need for layoffs. Techies got entitled: High demands for work conditions and salaries. Some employees demanded too much, creating tension within companies. The wrong people are in charge: Leaders sell dystopian stories and mismanage resources. Poor leadership exacerbates problems and leads to layoffs. If you found this post insightful, let's connect and discuss further!

I noticed that all these tech layoffs are happening simultaneously with the rise of startups based on generative AI. Knowing that some laid off folks are building their own apps/companies, wouldn't it be something if someone ended up making something surpassing the company that laid them off? Sometimes, success is the best revenge 🤪 No, this is NOT a motivational post incentivizing you to build your own apps. Please just do what makes you happy. This is the fairytale and mythology geek in me speaking. I was just thinking of the fairytale of Hansel and Gretel where the kids dumped in the woods by their starving mom are then kidnapped by the witch, but kill her (thus saving lives of potential victims) and loot her treasure which makes them rich. What awesome apps/businesses, AI-based or not, only exist because the founder was laid off? Also, what myth, legend, fairytale, or historical event do you think shares similarities with what's going on today? (Note: This post is NOT meant to invalidate the horrors of layoffs just because a few positive things might have followed. Not every laid off person can just travel the world, start their own business, or use that time to relax and "find themselves" in Southeast Asia.)

Year over year, tech companies seemingly lay off thousands of employees, good, bad, and top performing. Not great for building the trust or loyalty of current or future employees... Top questions come to mind: - Wont consistent layoffs damage the hiring of top talent who wont want to work in instability? - Won't current employees create a mentality to portal away as quickly as possible knowing a position is unstable and moving to stability? - Working at either of the mentioned companies would be a dream for most, but after these continuing annual layoffs and instability, are the companies still attractive opportunities? What are your perspectives?