Tech Industry job layoffs looking scary

[CopiousX]

greed

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 swear I only posted this yesterday and my firm announced layoffs today . We are a finance company, and they still fired 9% of tech staff just because.



Once again, it's crazy. We exceeded earnings and profits estimates every single quarter last year. Our client base has grown dramatically. Cashflow is great. Share prices have been on a steady climb since June last year. And because of our role in finance, we actually benefit from higher interest rates cause it improves our lending spread.


Literally makes no sense why they are laying off folks except to pocket their salaries . Fortunately your boy , @CopiousX was safe




But they had brought in private security to meet everyone first thing in the morning. They thought somebody would blow their top when they got the news today. Even locked the doors to our corporate HQ to let folks in one by one.

 

[JT-Money]

Dude might be a super c00n but he's spot on about blue collar jobs, college degrees, and why companies are doing these layoffs.

 

[JLova]

Dude might be a super c00n but he's spot on about blue collar jobs, college degrees, and why companies are doing these layoffs.

He is 100% right. The market rewards layoffs....AI is going to slash jobs. Gov needs to pay attention.

This is why I started buying real estate over 10 years ago. You need at least 4+ side hustles.

 

[JT-Money]

Tech layoffs are already on pace to surpass last year after another brutal week​

Job cuts to start 2024 are higher and more concentrated than tech layoffs in the past two years​

Tech layoffs are already on pace to surpass last year after another brutal week

Job cuts to start 2024 are higher and more concentrated than tech layoffs in the past two years

qz.com

 

[MikelArteta]

I swear I only posted this yesterday and my firm announced layoffs today . We are a finance company, and they still fired 9% of tech staff just because.



Once again, it's crazy. We exceeded earnings and profits estimates every single quarter last year. Our client base has grown dramatically. Cashflow is great. Share prices have been on a steady climb since June last year. And because of our role in finance, we actually benefit from higher interest rates cause it improves our lending spread.


Literally makes no sense why they are laying off folks except to pocket their salaries . Fortunately your boy , @CopiousX was safe




But they had brought in private security to meet everyone first thing in the morning. They thought somebody would blow their top when they got the news today. Even locked the doors to our corporate HQ to let folks in one by one.

its all greed, these companies still making profits .

 

[skyrunner1]

He is 100% right. The market rewards layoffs....AI is going to slash jobs. Gov needs to pay attention.

This is why I started buying real estate over 10 years ago. You need at least 4+ side hustles.

Is there a thread where you spoke on this? If not what was your strategy, I was in the game from a few angles but mainly flipping, made great money but it didnt take long (or maybe it did) to realize I just had another job and would have to keep dealing with the BS. MOST of the wealthy cats I know got it in on rentals (obviously the appreciation of last 10 years will make anyone look like a genius). Started to pivot in different way and execute the play of building from ground up and get rentals.

 

[JLova]

Is there a thread where you spoke on this? If not what was your strategy, I was in the game from a few angles but mainly flipping, made great money but it didnt take long (or maybe it did) to realize I just had another job and would have to keep dealing with the BS. MOST of the wealthy cats I know got it in on rentals (obviously the appreciation of last 10 years will make anyone look like a genius). Started to pivot in different way and execute the play of building from ground up and get rentals.

Would have to look but I’ve been talking about other streams I’d income for years. First property purchased in 2008/2009

 

[JLova]

Tech layoffs are already on pace to surpass last year after another brutal week​

Job cuts to start 2024 are higher and more concentrated than tech layoffs in the past two years​

Tech layoffs are already on pace to surpass last year after another brutal week

Job cuts to start 2024 are higher and more concentrated than tech layoffs in the past two years

qz.com

Yup. But stock market at ATH. Folk need to pay attention. Those rates are going to come down.

 

[skyrunner1]

Would have to look but I’ve been talking about other streams I’d income for years. First property purchased in 2008/2009

Oh yea you was picking them joints up 25-70k (depending where you at) and them joints worth 400k+ now


Keep winning breh

 

[ViShawn]

Human perception is funny and a reason why you should take people's opinions with a grain of salt.

I've been going through a series of interviews for tech sales roles. I interviewed with a small startup that sells a solution to assist in cybersecurity & threat intelligence. The recruiter said that the hiring manager REALLY likes my resume and wants to speak with me.

I finally got a face to face with him and he came off as unapproachable and slightly agitated to have the call with me. He spoke on some of my experience being a little "light" (despite the recruiter saying that the HM was enthused with the opportunity to speak to me).

I think he was trying to stunt on me and tell me one of the sales engineers he hired has a patent from Redhat. He came off very condescending in the conversation and at the end of the interview hung up on me.

I'm also talking with another company who I worked for in the Big Data space and had several rounds for another SE role, but ultimately didn't get it because I wasn't in the region they needed, but I got very positive feedback.

The recruiter got me to a hiring manager to an adjacent team and the hiring manager is ex-West Point, PhD in Data Science, very accomplished brotha. He talked about the immediacy of the need to hire someone like me, said my resume was awesome and would love for me to come back. If I went on the first company's opinion of me it would make my job search harder.

If you let every rejection or setback get to you you'll never reach your goal! Hopefully my little anecdote helps people here to KEEP MOVING FORWARD with their goals! Happy Friday and God Bless

 

[Serious]

 

[ReggieFlare]

Thirty five percent at Twitch?

 

[Serious]

Amazon terminates iRobot deal, Roomba maker to lay off 31% of staff

Amazon and iRobot said regulatory concerns made it impossible for the deal to move forward, sending the Roomba makers' shares plummeting.

www.cnbc.com

 

[JT-Money]

Bullshyt they trying to reset salaries to pre-pandemic levels.

 

[MikelArteta]

Thirty five percent at Twitch?

was 500 employees

Amazon just going barebones with twitch at this point. I mean the pandemic is over i'm sure twitch numbers are way done