Now that we're done with layoffs (or at least I think we are, I don't have any insider info, just using logic) watch as Shopify starts we-ponizing PIPs to force people to quit or to outright fire them. This is even better than layoffs because there is no severance, but it does take longer. I'm guaranteeing you this is where we're headed.
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The days of the software worker being "special" are over. In massive sweatshop operations in India and Eastern Europe they toil away under conditions far worse than anyone here would endure, for a fraction of the wages paid here.