KFBF
Superstar
I don't think we pay enough: General Laborer - Operations Division - SF Public Works (7514 TPV)
Big Tech layoffs are a sign of them finally growing tf up
- Thread starter Ed MOTHERFUCKING G
- Start date
I work for a major big tech company. Every day I’m worried about another round of layoffs. shyt’s stressful. I’m looking for more secure jobs elsewhere, but the salary and benefits I get at my job now aren’t available at other companies. I’m just gonna ride this out I guess. At minimum, just having a FAANG company on your resume is worth a lot.
88m3
Fast Money & Foreign Objects
not bad though
I'm thinking it would have to be a Federal employment scheme because it would be too expensive for states
I'm thinking bigger than ditch diggers too but we need to work on irrigation and habitat restoration
bridges
airports
trains
highways
renewable energy
lot of cool cost effective shyt out there that would improve our quality of life and save us all a lot of money if we put our minds to it and people would be employed
Yeah, i wont say nothinf to worry about, because all of layoffs are coming from all areas BUT many companies became VERY bloated during the pandemic.
The google layoff sounded brutal. Everyone else did the typical get tapped for a mysterious meeting, on Linkedin everyone i see on my TL was like they found out tryna start their work day and nothing worked
@Flying Squirrel idk if you ever got the firefighting job but this is some easy money
Mission249
All Star
It's kinda crazy how just some months ago people were coming out of college, no experience, demanding $200,000, 100% remote, and filling TikTok with "day in the life of a tech worker" videos where they spent 90% of their time eating free gourmet food.
shyt was at a breaking point regardless of the economy. Entitled people who don't give a fukk about tech were flooding the market and feeling themselves wayyyyy too much. Video after video of "how to break into tech with no experience and no skills and get what you're owed".
All these overpaid people who were probably worth negative real value to their company didn't read their history books about the last times tech took a downturn. Even us people with proven track records of delivering huge value to the company know that anyone can go - even us.
shyt was at a breaking point regardless of the economy. Entitled people who don't give a fukk about tech were flooding the market and feeling themselves wayyyyy too much. Video after video of "how to break into tech with no experience and no skills and get what you're owed".
All these overpaid people who were probably worth negative real value to their company didn't read their history books about the last times tech took a downturn. Even us people with proven track records of delivering huge value to the company know that anyone can go - even us.
Insensitive
Superstar
And I've been fiending to make that jump.
To leave the field I'm in and head to tech for an even bigger salary.
I know PM's make a cool 30k to 40k more than I currently do in Big Tech.
Now I'm just gonna shut my trap and be grateful for the job I have.
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You can’t blame them. Big tech went on a historic hiring spree the past 2 years
It’s like the coach taking the terrible job knowing he will be fired in a couple of years.
mastermind
Rest In Power Kobe
I’m not sure why they are laying people off, other than “the stock prices!”
AquaCityBoy
Veteran
How is thousands of people losing their jobs 'healthy'?
Yeah idk what theh were thinking, loooooootta companies got bloated as shyt. Granted you hire so be aboe to ask for bigger budgets for the FY coming up but it was kinda off the chain. That said it sucks people lives get screwed because of this
Stock prices are a function of the earnings of the business and / or the growth of the company....of the latter is flat or down you better improve the former. Laying people off improves margins and thus earnings.
For those individuals and the main street economy it isn't. This however:
Was always unsustainable and fukked up the hiring marketplace for everyone in tons of industries. I know MANY people who left finance for tech in the last 18 months who are stressed or already gone now. And all were bragging about the culture and how other people were suckers.
The health piece is that tons of these companies were never profitable in the first place or segments of businesses were loss leaders, living off the strength of cheap capital. Those days are done and the dominos are falling.
They're growing up...both the 25 year olds like those in the clip above, and the companies who realize they actually have to have positive net income or at least EBITDA