Tech Industry job layoffs looking scary

[Michael's Black Son]

I'm interviewing candidates for a senior software engineer

130k minimum with benefits

What layoffs

 

[JLova]

I'm interviewing candidates for a senior software engineer

130k minimum with benefits

What layoffs

My company hired a number of people and still had layoffs. Diff departments

 

[JLova]

Whats weird is that the fed has already stopped raising interest rates , inflation is down, and the economy is booming. The big scary recession they were worried about never came. A fed soft landing was lowkey achieved.

There literally is no excuse for them to keep firing people other than pocketing their salaries for shareholders

Woah.....the US is not out of the woods just yet. Remember, inflation is down but rates are high as fukk and there is a lag effect to raising rates. Also it's harder for companies to borrow money. All this talk about "needing to be profitable" is very popular now. Borrowing money at 1.5% and investing in growth is a whole diff ballgame than borrowing at 10% while salaries move up and costs on everything is elevated.

So AI makes it even easier to lay people off. It's a double whammy. High rates/high inflation and AI.

 

[MikelArteta]

Whats weird is that the fed has already stopped raising interest rates , inflation is down, and the economy is booming. The big scary recession they were worried about never came. A fed soft landing was lowkey achieved.

There literally is no excuse for them to keep firing people other than pocketing their salaries for shareholders

greed

 

[Forsaken]

Whats weird is that the fed has already stopped raising interest rates , inflation is down, and the economy is booming. The big scary recession they were worried about never came. A fed soft landing was lowkey achieved.

There literally is no excuse for them to keep firing people other than pocketing their salaries for shareholders

More layoffs will come. I'm more interested in the average salary of the people being fired.

It's not like most companies can't trim the fat and still maintain operations.

 

[JT-Money]

Chart: All the Major Tech Layoffs in 2024 So Far

We visualize some of the bigger tech layoffs in the year so far, from video game software provider Unity to big tech bastion Google.

www.visualcapitalist.com

 

[HoldThisL]

@JT-Money Is it just tech companies with these mass layoffs? What about regular companies with a tech department, any data on them besides the big names?

I work IT for a hospital

 

[JT-Money]

@JT-Money Is it just tech companies with these mass layoffs? What about regular companies with a tech department, any data on them besides the big names?

I work IT for a hospital

Depends on the industry but I'm seeing an uptick in outsourcing of IT jobs overseas again.

My last two companies laid off people in the US while at the same time increasing headcount overseas. We're a long way from the IT job market stabilizing in my opinion.

 

[papa pimp]

Whats weird is that the fed has already stopped raising interest rates , inflation is down, and the economy is booming. The big scary recession they were worried about never came. A fed soft landing was lowkey achieved.

There literally is no excuse for them to keep firing people other than pocketing their salaries for shareholders

i mean there are two big wars going on plus China is reeling from bad government policies and its not yet clear that the economy is over any hurdles that might push us into a deep recession.

 

[JLova]

SAP laid off 8,000

 

[TRUEST]

SAP laid off 8,000

Read that yesterday. Like wtf. 8000?? Yikes.

 

[JLova]

Read that yesterday. Like wtf. 8000?? Yikes.

Right now since they can’t hit growth targets costs are the easiest thing to address and that’s jobs…not bloated CEO salaries or massive bonuses for the executives. It’s squeezing ppl out of jobs.

And guess what? The stock increases. I bet if the stock dropped 15% for every layoff companies would fall back. Right now it’s about laying off as many as you can and getting the stock to move up.

Capitalism baby!

 

[Obreh Winfrey]

SAP laid off 8,000

 

[Illuminatos]

I have no experience, just a CS degree I got back in 2019. Decided to give this SWE thing one last shot and have been learning Swift and practicing my LeetCode. I started applying for SWE positions on the 1st of this month. Finally got a request for interview for a remote iOS Developer position. Wish me luck.

Lmao tell me why these people never got back to me after I scheduled the interview.

It’s a cruel world out here. Stay safe yall.

 

[papa pimp]

why not start a group for referrals? i'm sure some of us get hit up by recruiters and can simply pass along to some of yall who might be in between employment.

any devsecops or devops people on here with azure security experience?