Tech Industry job layoffs looking scary

[Arcavian]

I'm about to get let go soon, time to update the resume

 

[StretfordRed]

I got a secondment into a new team due to the hiring freeze and redundancies at my kinda-FAANG company.

Looming peak out here.

 

[UberEatsDriver]

Are media companies effected? I work in media

 

[Marc Spector]

I work for a bigtech firm and having been planning moves to work for the federal govt if need be.....

 

[Marc Spector]

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...

not true at all. Amazons money comes from AWS. Not the online sales platform.

 

[JLova]

I work for a bigtech firm and having been planning moves to work for the federal govt if need be.....

How many other people have that plan?

 

[LiveFromLondon]

Everyone here works in tech and finance

 

[Black Magisterialness]

You have not factored in the auto loan bubble, the debt that covid has created and that relates to the cost of living crises. Increased interest rates.

True, but even that doesn't compare to the home loan issues of the 2000's.

 

[Cereal_Bowl_Assassin]

4 associates i know just got laid off at spotify..

 

[whig]

Healthcare IT is pretty solid over here.

 

[Json]

Healthcare IT is pretty solid over here.

Tech hired during the pandemic when more people were stuck at home and zoom meeting.

It was an artificial high.

I’m not sure this pullback will reverb through the entire economy as usual

 

[Michael's Black Son]

Chick I deal with said her company let 100 people go yesterday. They are in the tech/e-commerce space. Not sure how she survived but it is what it is.

 

[Starman]

Chick I deal with said her company let 100 people go yesterday. They are in the tech/e-commerce space. Not sure how she survived but it is what it is.

Sounds like you might have an idea...

 

[duckbutta]

Company I worked for is owned by a top 50 tech company. It is looking bad. All the internal positions that I had apply for has been frozen when I tried to move over . Also, there is not many internal jobs anymore, no growth. The only saving grace I have is that I have another retention bonus coming in feb and three months salary guaranteed if I were to get let go.

With that said, I have always been paranoid about jobs I am always learning new things and getting different certs(charging the company I work for them lol) to make sure that if a company fires me, I can have put my best foot forward for new jobs.

They even got internal positions frozen

And they owned by another tech company

You need to be looking to breh. Internal transfers being put on hold is always a very bad sign

 

[chineebai]

Most of my career was in tech, specifically lots of startups so I’m used to the idea of being laid off at any moment without notification. It’s happened before and it didn’t really surprise me. My advice is to be very generous with your resume and be aggressive and vocal about learning opportunities and job advancement, those that are the loudest, all things equal, come out on top.