Plan of action for when layoff rumours arise due to funding issues?
I'm currently employed at a startup that has recently faced rumors of running short on funding. The concern is that the company might need to lay off employees to extend the runway for core employees. While no layoffs have happened yet, the credibility of the funding issues is high, but I also see active efforts being made to secure Series A funding.
I love working at this company and have been a part of some of the most impactful projects. However, I feel replaceable since my team lead and mentor can do my job. I've even taken over their responsibilities during their absences, but I'm aware they are more likely to be retained over me due to their seniority and experience. Despite being viewed as a very good employee with strong relationships with management, I fear that if layoffs happen, I might be one of the first to go.
Given the situation, I thought it would be sensible to look for other job opportunities. I then reached out to some recruiters who had previously contacted me, only to find out that they are connected with my current HR and Hiring Manager. This connection raises the risk that my job search could be revealed to my company, potentially leading to me being the one triggering my layoff.
I genuinely want to continue working here.
Should I continue looking for a new job or is there I can do to make myself irreplaceable?
Discussion
(5 comments)- 1
3 months agoThoughtful TarodactylTaro CommunityMy 2 cents -- In my opinion layoffs are really random and you cant control being replaced. Especially in such a short time frame the timeline is pretty narrow to make yourself irreplacable
I think at the end of the day everyone is pretty much replaceable. If the company's budget is tight they wont think twice before laying someone off. Given that you mentioned team lead and mentor I take it that you're not a lead/senior which puts you at a higher risk of layoffs
I would start interview prepping just to be on the safe side. No need to go full scale but start getting your resume together and send out apps. Maybe spend 2-3 hours/week on leetcode to stay on the safe side.
- 13 months agoSoftware Engineer [OP]Taro Community
Thanks for the advice!
Yeah I felt the same too. There's nothing much I can do to make myself irreplaceable. I'm at the bottom of the ladder.
I've improved my resume, and have started cold applying to see if my resume can get past the screening round. I'll try this for a month and see what's the conversion rate. Else I'll have to talk to the recruiters when I get fired and start asking my connections for referrals.
I should probably focus on honing my raw technical proficiency and study whenever I get the chance.
About DSA, yeah I am trying my best to be consistent and solving problems daily. I try to start my day with them.
I hate how the industry functions but I really enjoy the work.
It's like I hate the fact that I love working as a software engineer.
- 13 months agoThoughtful TarodactylTaro Community
Another important point: donot trust leadership about layoffs
I've seen and experienced leadership saying dont worry guys were doing great no layoffs and then they do a round of layoffs
- 13 months agoThoughtful TarodactylTaro Community
Another point is that given that your company is potentially struggling to keep funding its a red flag in my opinion that the product/mission might not be as good i.e. your ability to land impact might be limited if the company is unable to find PMF or get funding or keep growth needed to survive
- 13 months agoSoftware Engineer [OP]Taro Community
Yeah, I've been noticing your last point to be a major issue for me in the past few months. My ability to land impact has been limited. But somehow as a team we were able to find some major issues during testing and that has kept us occupied.
