Product Hunt Daily - Stripe layoffs

Last week felt pretty gloomy for those in tech. And we’re not referring to the sweater weather. 

Several companies announced new layoffs, including giants like Lyft, Stripe, OpenDoor, and Chime. And let’s not forget Elon Twitter is cutting 50% of its employees (although there are rumors of the company asking some of them to come back already). 

Why is this happening? A few reasons. 

• The obvious one is the recession. Recent earning reports are sending red signals to investors, making it more important than ever for companies to focus on increasing their profit margins and cutting costs. 
• But why so many this week? Twitter chatter hints that Musk’s plan to cut 3,700 jobs last Friday gave companies the opportunity to do the same, thus dividing (and taking) some of the attention from them.
• Another theory we’ve seen floating around is that the holiday season approaching presumably makes the transition period easier. It also fits California’s WARN Act window of time for announcing mass layoffs.

What now? It’s hard to say how much longer it will be before we see the light at the end of the economic tunnel or whether layoffs and hiring freezes will continue. What’s clear is that, despite the noise made by big tech, many companies out there are still hiring. Flexport, the logistics startup, is planning to double its engineering headcount in a 2023 hiring spree. 

In the meantime: some tools to help you spot open positions. 

• AI Jobs lets you apply to 1000+ jobs in AI and machine learning. 
• This one aggregates fully location-independent jobs.
• Dream Job Hub is a step-by-step execution guide. Like mission control for job applications.