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Unicorn’s layoffs prompt more start-ups to consider hiring acquisitions – TechCrunch

Alex Zayachkovsky was just months after her role in Toast, a restaurant software company, when she was released during the COVID-19 layoffs. The toast, last estimated at $ 5 billion, cut 50% of its staff through layoffs and layoffs.

Zayachkovski said she started applying for a job within a week.

“I think I got on the boat a little faster than the others because I wanted that security a little faster,” she said. She and former Toast colleagues created Slack to talk about layoffs, job search and what’s next. Toast has created a staff selection spreadsheet that lists redundant employees.

The paper brought Zayachkovsky to Stavvy, an online startup also based in Boston, for an interview. Today, most of Stavvi̵

7;s team are former Toasters, including Zayachkovski.

“I think one of the benefits of hiring from an organization that’s kind of a landmark company in Boston is that you know what the hiring practices are,” Ligris said. “An inspection level has occurred.”

The inclusion of former Toast employees from Stavvy suggests that the layoffs that rocked startups in March could be an opportunity for smaller startups to accumulate stellar talent who already has chemistry. Although hiring is not a new concept, it has a new weight in an environment that is being shaken by mass layoffs and moving to teleworking.

However, Stavvy co-founders Costa Ligris and Josh Fineblum say hiring a group of employees can backfire without due diligence.

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