[savedfrommyspokes]

Originally Posted by Rhotchkiss

Not all layoffs signal a struggling company. Many companies (multiple industries) hired rapidly in anticipation of growth that never manifested, and they are now laying off those people to right-size the company given that the growth came. Suppose PWCC was preparing for alternative revenue streams - NFTs, video games, shoes, etc. but the NFT market sucks, and video games have cooled a ton after a few big profile auctions (I don’t know about shoes). There is no reason to keep that dead-weight salary expense on the books, so you lay them off. That doesn’t mean their card auctions, market place, vault, etc are doing bad. It just means they don’t need the people they hired to serve collateral businesses that did not materialize.

I have no idea what’s going on at pwcc and if the above applies, or if they are having larger issues, etc. I am just pointing out that layoffs do not always mean a company is struggling. It may mean they have given up on some growth

Not knowing specifically who all the released employees were and what their responsibilities entailed, it is tough to say if they lay-offs were targeted at these expansion categories or not. The two linkedin posters who are known to have been released yesterday are essentially software engineers and do not appear to be associated with any specific category. However, this is only accounts for only 2 of 30/40 employees out at pwcc....it will be interesting to find out what some of the other released employee's responsibilities were at pwcc.