Tech Industry job layoffs looking scary

[JT-Money]

The job market is toast with this many people flooding the border.

California Sees Record Number of Indian Migrants at Border​

California sees record number of Indian migrants at border

Migration from India has accelerated since fiscal year 2021.

www.newsweek.com

 

[FishNGrits]

My girls cousin was laid off today. She was pretty high up, I thought people like her were safe

 

[Van Cleef]

It’s 2024 and nikkas still getting epiphanies about the next “Uber for …”

you dont need to start the next "uber" you can build a Micro-SaaS that makes $5k-10k a month

Micro-SaaS Guide: Build a Profitable Business in 2024

The definitive guide on building a profitable micro-SaaS business from scratch. Learn how to find ideas, build product, launch and market your app.

www.preetamnath.com

 

[Serious]

 

[JealousOnesEn_V]

My girls cousin was laid off today. She was pretty high up, I thought people like her were safe

What was her position/title

 

[FishNGrits]

What was her position/title

Honestly breh I’m not sure. I’m a blue collar breh but she was making about 150 for Instacart and has a masters. So I just assumed she was high up. She was in charge of the guys making “stacks” or some shyt for the app. I don’t follow the jargon of your guys trade. Just repeating what I remember over thanksgiving

 

[Red Shield]

The job market is toast with this many people flooding the border.

California Sees Record Number of Indian Migrants at Border​

California sees record number of Indian migrants at border

Migration from India has accelerated since fiscal year 2021.

www.newsweek.com

seesh

also Canadians are pissed at Nap's folk flooding Canada

 

[CrimsonTider]

Yall keep saying this without any understanding.

We had more workers leave the labor market during the pandemic than got replaced. This is called a demographic cliff and why unemployment is low. You can easily google what a "tight labor market" means.

There are jobs BUT employers are taking record time to fill them if they are trying to fill them at all according to surveys I've seen conducted.

Its not doom and gloom but its also not some dawn of economic prosperity right now....more a mixed bag.

Who doesn’t understand this?

Your last paragraph doesn’t even make sense in the context of the convo

 

[CrimsonTider]

The pandemic also forced employers in a lot of sectors to operate with less people. And some of them adapted. If they have 5 open positions, they will take their time to fill them since they are just as productive with those vacancies.

At the end of the day, payroll is the biggest expense for companies. They have monthly budgets to meet. And if let’s say they had a budget to hire x amount of people in 2024. They longer they go without hiring, each month they don’t will reflect on the net profit for that month.

And either 2 things will happen. They will hire those people sometime this year, because they want to increase or maintain the payroll budget in 2025, or they won’t hire and if they do, they will lay them off by December because they budget for payroll will decrease, because they want to try to exceed the net profit by a few percentage points.

This isn’t true either. Idealistically the people you’re hiring should be driving an increase in money coming into the job

Hiring people isn’t a negative to budgets it’s a net positive if done out of need

The problem is tech tries to hoard talent and drive innovation. When projects fail they lay off everyone involved

 

[Ethnic Vagina Finder]

This isn’t true either. Idealistically the people you’re hiring should be driving an increase in money coming into the job

Hiring people isn’t a negative to budgets it’s a net positive if done out of need

The problem is tech tries to hoard talent and drive innovation. When projects fail they lay off everyone involved

Is is true. all big companies operate they way.

When they missing monthly or quarterly budget goals, one of the fastest was to make it up is to lay off employees or freeze hiring.

Especially publicly traded companies. While you can positively increase NOI, by increasing revenue, it’s slow and there’s only so much you can do. Since payroll is one of if not the biggest liability, and the company controls it, that’s their go to.

Why do you think all of these companies are quick to layoff people in mass? It’s all about NOI and the budget.

And it’s usually in the first or second quarter on average for a reason.

 

[CrimsonTider]

Is is true. all big companies operate they way.

When they missing monthly or quarterly budget goals, one of the fastest was to make it up is to lay off employees or freeze hiring.

Especially publicly traded companies. While you can positively increase NOI, by increasing revenue, it’s slow and there’s only so much you can do. Since payroll is one of if not the biggest liability, and the company controls it, that’s their go to.

Why do you think all of these companies are quick to layoff people in mass? It’s all about NOI and the budget.

And it’s usually in the first or second quarter on average for a reason.

Did you ignore my last line?

 

[BunchePark]

What they say? They usually cut access off before that happens?

all kinds of emotional and unprofessional shyt

they were fired via video chat the messages were sent during or right after the meeting

 

[Serious]

Cisco says it's cutting 5% of global workforce, amounting to over 4,000 jobs

Cisco announced plans to cut 5% of its workforce on Wednesday, the latest tech company to downsize this year.

www.cnbc.com

 

[Serious]

Cisco says it's cutting 5% of global workforce, amounting to over 4,000 jobs

Cisco announced plans to cut 5% of its workforce on Wednesday, the latest tech company to downsize this year.

www.cnbc.com

 

[Illuminatos]

Got a response for an interview for a Junior SWE position but the pay range on the job listing is $18-$22.