Tech Industry job layoffs looking scary

[dtownreppin214]

I just had my second kid, I don't need this stress right now.

 

[King Sun]

Recession is going to hit hard .

 

[Iceson Beckford]

UPS -Still hiring

 

[humminbird]

All by design

https://www.cnn.com/2022/10/10/economy/jobs-recession-unemployment/index.html

 

[dtownreppin214]

All by design

https://www.cnn.com/2022/10/10/economy/jobs-recession-unemployment/index.html

Yup deliberately created by the Fed to curb inflation. It's fukked up.

 

[Sauce Mane]

Meta had crazy growth of employees for the past few years and Zuck during June interview mentioned that meta has a lot of useless employees

Remember seeing all those people posting on TikTok showing how their regular day looked very chill, where they work by the pool or hang out all day and make 100k. Seems like a lot of those jobs are going to get hit

 

[Starman]

Can Twitter function with 75% fewer employees?

 

[gho3st]

I work for an insurance company. They just released financial data. We good.

 

[dtownreppin214]

Meta had crazy growth of employees for the past few years and Zuck during June interview mentioned that meta has a lot of useless employees

Remember seeing all those people posting on TikTok showing how their regular day looked very chill, where they work by the pool or hang out all day and make 100k. Seems like a lot of those jobs are going to get hit

My team is 11 people. Honestly, we could get by with 6-7. There are several sprints where some of our engineers are just doing training. The tiktok stuff is miniscule compared to the workforce bloat.

 

[NinoBrown]

To be fair those companies like Twitter and Facebook don't produce anything of value.

Intel/Microsoft/Apple have excess executive employees, they gotta go...

Amazon is just ebay from back of the day, too much expansion in various markets causing them to lose money....

Just doom and gloom...frontline support will be alright...the creative specialist/fugazi positions gotta go...

 

[desjardins]

Hopefully all the layoffs and hiring freezes will generate more innovation as some people will use this time to work on their own ideas
Programs like Y-combinator barely get any buzz now days, everybody was just running to get a $400K job and calling it a day I guess

I wonder when/if the layoffs will start to hit other industries. I'm assuming housing will be next, the auto industry maybe, then retail?

 

[69 others]

The cheap money era was bound to end. At worst a few firms will go out of business but things will swing back

 

[NinoBrown]

Hopefully all the layoffs and hiring freezes will generate more innovation as some people will use this time to work on their own ideas
Programs like Y-combinator barely get any buzz now days, everybody was just running to get a $400K job and calling it a day I guess

I wonder when/if the layoffs will start to hit other industries. I'm assuming housing will be next, the auto industry maybe, then retail?

08 recession started at tech and then hit everybody, so I'd say Jan after that post-Christmas boost

 

[BunchePark]

my earnings call is at 2pm today fingers crossed lol I need that bag

 

[chineebai]

lots of hiring freezes but revenues and cash flow are still in a great spot in tech. The stock market is another story.