Silicon Valley tech job.. how concerned would you be?

[Anonymous]

I think alot of the tech layoffs you’re seeing are companies taking advantage of the current climate to get rid of their bloat and dead wood. It’s much easier to layoffs when everyone else is too. If your dh is making his quotas and the company seems reasonably well-run and has good products (not vaporware), I wouldn’t worry.

[Anonymous]

I wouldn't worry.

Startups right now are looking to bring in cash, so most will hang on to good sales leaders that close deals to do exactly that. Btw a good sales leader is always highly employable, one of the most transferable and valuable skill sets across industries.

Impressive that the company was able to raise an up round in this fundraising climate.

5% layoffs is fairly modest and seems like prudently trimming / unregretted attrition to prepare for a tougher fiscal environment. Not a big warning sign, IMO.

[Anonymous]

I am an exec with a tech sales background and I agree with others that 5% isn’t necessarily a warning sign - we are all doing it.

That said, tech sales is going to be REALLY HARD next year IMO. Are they forecasting and expecting that? Assuming they are, he’s probably in a solid spot. I also agree with others that a proven sales leader is incredibly employable.

[Anonymous]

How much do you make OP and how much do you have in savings? I think DH should stay put but that assumes you could ride out a layoff. Also, is DH older, after 50 it may take longer for him to get another job.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sales is kind of unstable no matter what, right? But I think there will always be opps for him. If he likes his job, I'd stay at it if I were him. Might as well stay on the lifeboat. The market is tough right now and it's impossible to predict what a stable option might be. Even Google is considering layoffs now, according to the news, which is shocking. Staying where he has tenure is his best bet IMO.

This is pretty par for the course.

Ignore the valuation of his "equity" -- who know how or when they will exit. Focus on salary and cash on hand. So if his comp is low in cash but high in equity, I would be looking for higher paying role with more cash comp (could still be commission if he is that good at sales).

But you mention they are still fund raising -- when are they looking to be profitable? That is a metric VC is looking much harder at.

A lot of these companies end up never being profitable and their exit strategy is to be acquired by another company.

And they are acquired for less than the money invested, so common shares are wiped out.

The additional fund raising actual increases the risk that OP DH will get nothing for equity. The higher the funding rounds, the higher the sales price needs to be by acquisition to have anything left for employee stock.

Just happened at Fungible.

https://news.ycombinator.com/item?id=33980862

[Anonymous]

OMG. Reading comprehension, people. He did NOT make quota and they are raising $$$$. OP, does your husband have a solid plan to make quota? Has he replaced poor performers on the sales team?

[Anonymous]

It all comes down to money. Did he meet his metrics. If not, start looking. If so, he is safe.
Our sales leader was just let go. We are a tech start up in a very similar situation. He didn't meet his quota. He was given about 6 months to turn things around.
You also want to make sure that your husband's resume also is positive for the next position - i.e., shows sales growth not a losing job.

[Anonymous]

Anonymous wrote:OMG. Reading comprehension, people. He did NOT make quota and they are raising $$$$. OP, does your husband have a solid plan to make quota? Has he replaced poor performers on the sales team?

OP said he DID make quota! What is wrong with you?!

[Anonymous]

Anonymous wrote:

Anonymous wrote:OMG. Reading comprehension, people. He did NOT make quota and they are raising $$$$. OP, does your husband have a solid plan to make quota? Has he replaced poor performers on the sales team?

OP said he DID make quota! What is wrong with you?!

I think the phrasing is confusing… “he’s the sales leader… BUT… did make quota”, the BUT makes it feel like the next phase was bad news (because being sales leader shouldn’t be bad)

OP confirm — he made his numbers?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OMG. Reading comprehension, people. He did NOT make quota and they are raising $$$$. OP, does your husband have a solid plan to make quota? Has he replaced poor performers on the sales team?

OP said he DID make quota! What is wrong with you?!

I think the phrasing is confusing… “he’s the sales leader… BUT… did make quota”, the BUT makes it feel like the next phase was bad news (because being sales leader shouldn’t be bad)

OP confirm — he made his numbers?

The words are right there plain as day. To misread and then criticize others for their lack of reading skills is just so on par for dcum

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OMG. Reading comprehension, people. He did NOT make quota and they are raising $$$$. OP, does your husband have a solid plan to make quota? Has he replaced poor performers on the sales team?

OP said he DID make quota! What is wrong with you?!

I think the phrasing is confusing… “he’s the sales leader… BUT… did make quota”, the BUT makes it feel like the next phase was bad news (because being sales leader shouldn’t be bad)

OP confirm — he made his numbers?

The words are right there plain as day. To misread and then criticize others for their lack of reading skills is just so on par for dcum

I wasn't the PP who misread nor criticized anyone. I simply saw the PP who thought he didn't make his numbers and wondered how they could have thought that (because it clearly says he did make his number) and realized the "but" was a bit ambiguous.

[Anonymous]

Anonymous wrote:OMG. Reading comprehension, people. He did NOT make quota and they are raising $$$$. OP, does your husband have a solid plan to make quota? Has he replaced poor performers on the sales team?

No they ARE on track to make quota. He’s 39.

[Anonymous]

Anonymous wrote:How much do you make OP and how much do you have in savings? I think DH should stay put but that assumes you could ride out a layoff. Also, is DH older, after 50 it may take longer for him to get another job.

So he’s 40, so not to hazard from age

[Anonymous]

Anonymous wrote:A salesman who produces is about the safest job in any situation

Yea. My DH is in tech sales and as someone said sales is naturally unstable. My DH has been fired and has also been the top producer in a company a few years in a row. He is also at a start up now with equity. It really wouldn’t matter if he got let go today he’d just find another sales job. OP should know that sales jobs for producers are a dime a dozen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OMG. Reading comprehension, people. He did NOT make quota and they are raising $$$$. OP, does your husband have a solid plan to make quota? Has he replaced poor performers on the sales team?

OP said he DID make quota! What is wrong with you?!

I think the phrasing is confusing… “he’s the sales leader… BUT… did make quota”, the BUT makes it feel like the next phase was bad news (because being sales leader shouldn’t be bad)

OP confirm — he made his numbers?

You people cannot read. I’ve never seen a larger assembly of arrogant fools in my life than this site.