|“Am I next to go?”
It’s a question more and more startup employees are contemplating amid a historic downturn in the industry coupled with a pullback in VC funding.
Concerns over job security have always lingered in the high-risk world of startups. But as Insider’s Samantha Stokes and Madeline Renbarger detail, employees are on edge nowadays because of the threat of multiple layoffs in a short time.
Instead of feeling relieved after surviving a round of job cuts, employees wonder when the next headcount reduction will occur. The process has left employees feeling demoralized and stressed, with some telling Samantha and Madeline they’ve lost confidence and faith in leadership.
It’s worth noting that startups have always had a risk-reward aspect, even if it didn’t feel that way for a long time.
For every successful startup, countless ones have failed. But seemingly endless venture funding and eye-popping valuations over the past decade, especially in the wake of the pandemic, made it easy to dismiss the risks.
Why work for a corporate entity and be a cog in the wheel when you can get hands-on experience at a startup? (And make a ton of money along the way.)