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Unicorn layoffs suggested extra startups to attach in mind acqui-hiring

Alex Zajaczkowski used to be steady months into her role at Toast, a cafe level-of-sale tool company, when she used to be let wobble all the way thru COVID-19 layoffs. Toast, remaining valued at $5 billion, decrease 50% of its workers thru layoffs and furloughs.

Zajaczkowski said she started applying for jobs internal per week.

“I stammer I bought on the boat a diminutive bit bit sooner than others due to I wished that security a diminutive bit bit sooner,” she said. She and ragged Toast colleagues formed a Slack to keep up a correspondence about layoffs, their job searches and what lay ahead. Toast created an decide-in spreadsheet for recruiters that listed laid-off workers.

The sheet introduced Zajaczkowski to Stavvy, an online mortgage startup also based in Boston, for an interview. As of late, a majority of Stavvy’s team are ex-Toasters, alongside side Zajaczkowski.

“I stammer one in every of the advantages of recruiting from an organization that’s produce of an iconic Boston company, is that you just know what the hiring practices are,” Ligris said. “There’s been a stage of vetting that has occurred.”

Stavvy’s onboarding of ragged Toast workers means that the layoffs which rocked startups in March may perhaps perhaps well well be a chance for smaller startups to scoop up fundamental person skill that already has chemistry. Whereas acqui-hiring isn’t any longer a brand modern conception, it has modern weight in an setting reeling from mass layoffs and a shift to distant-first work.

Stavvy co-founders Kosta Ligris and Josh Feinblum, though, explain hiring a pod of workers can backfire without upright diligence.

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