The Scoop #26: Formerly high-flying companies now struggling
Also: hiring continues to slow at Meta and a look at Figma’s $20B exit.
The Scoop is a bonus series covering insights, patterns, and trends I observe and hear about within Big Tech and at high growth startups. Have a scoop to share? Send me a message! I treat all such messages as anonymous.
The Scoop sometimes delivers firsthand, original reportage. I’m adding an ‘Exclusive’ label to news that features original reporting direct from my sources, as distinct from analysis, opinion, and reaction to events. Of course, I also analyze what’s happening in the tech industry, citing other media sources and quoting them as I dive into trends I observe. These sections do not carry the ‘Exclusive’ mark.
Today's topics are:
Hiring slowing further at Meta? Production engineering hiring is frozen, and some teams can no longer backfill. Exclusive.
More salary transparency to come in the US. California is following in the footsteps of Washington state by mandating companies to make public their salary ranges. How could this impact tech? Analysis.
Layoffs at DocuSign. DocuSign was one of the winners of the pandemic, yet is letting go 9% of its staff. What happened at the company, where business is still strong? Exclusive details, and analysis.
Three formerly high-flying companies which are struggling. Klarna, Juni and Graphcore were all ‘hot’ companies less than a year ago. All are reducing headcount now. Exclusive details, and analysis.
Figma’s $20B exit. 2022 has seen no notable tech IPOs. However, we have what might be the biggest exit of the year: Adobe buying Figma for $20B, which is more than Spotify and Cloudflare are worth by market cap. Analysis.