Tech Industry job layoffs looking scary

[JLova]

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.

Bruh I’m traumatized from working in Tech for 15+ years. I’ve seen it all man. Half the company cut…CEOs getting canned. Tech is terrible like that.

 

[JLova]

Companies were riding high with bullshyt valuations. Imagine at being valued at $750M with $30M yearly revenue? Now companies are going to have to be valued based on REVENUE not done bullshyt growth and whatever crap they use. Tough times ahead.

 

[Batsute]

Companies were riding high with bullshyt valuations. Imagine at being valued at $750M with $30M yearly revenue? Now companies are going to have to be valued based on REVENUE not done bullshyt growth and whatever crap they use. Tough times ahead.

You think they would’ve their lesson during the dot.com bubble.

VCs really do be fukkin up the game

 

[JLova]

They went on needless hiring sprees "during" the pandemic because a lot of these companies were seeing growth that they thought was a result of a permanent shift.

Many of them are correcting course after that blunder. Although, I'd say Twitter's layoffs appear to be a little different.

My question is how could they be so stupid? I think it's more about getting that venture capital money (startups). In order to get greater investment, they needed to go hard on growth and you do that by hiring a bunch of people. Companies like Peloton thinking that people would continue buying those bikes when things opened up...stupid. Online learning as well. Stupid.

 

[JLova]

You think they would’ve their lesson during the dot.com bubble.

VCs really do be fukkin up the game

Some of these companies were not around. A lot of new companies within the last 5-10 years.

 

[Actually6Foot3]

Sheesh. And I spend half the year considering a shift to tech sales from real estate/ property management. But I think I'll stay for now considering the money is decent and the job security is always there as housing is a need not a want. I hated coding but love sales but the industry is cut throat during downturns and a lot of tech is "nice to have" not really a must for most companies pinching pennies. You will suffer selling SaaS a company can't budget for.

 

[BeeCityRoller]

Jereme Powell in the cut nodding his head

 

[NinoBrown]

Are media companies effected? I work in media

I work in music licensing and my requests for works haven't been this low since October 2021.

Something is up as all the big movie houses are scaling back with projects or pushing them down the road.

 

[Robbie3000]

I’ve been listening to a lot of Michael Burry (big short guy) videos on YouTube he’s predicting that a lot of the large tech companies have inflated stock prices and the bubble is going to pop soon. Since people who invest usually “play it safe“ by buying the larger tech companies or index funds that do, people don’t research small stocks anymore, and Wallstreet brokers use large tech companies to hedge with, all their prices are inflated.

Bubble? The stock market is already down 30% this year.

 

[HoldThisL]

If you have a solid resume and experience in tech then you will never be unemployed for long.

 

[Blakbrew]

Trade brehs are gonna be eating GOOD this year

 

[Geek Nasty]

Bubble? The stock market is already down 30% this year.

How are you calculating its down 30%?

 

[lib123]

We about to see a lot of Coli 6-figure bros go from "bootstraps" to socialists in real-time.

 

[King Sun]

We about to see a lot of Coli 6-figure bros go from "bootstraps" to socialists in real-time.

The key in this IT shyt is to work in the financial part of it. Just having an bank on your resume opens doors

 

[lib123]

The key in this IT shyt is to work in the financial part of it. Just having an bank on your resume opens doors

True but banks are planning to cut staff too.