Tech Industry job layoffs looking scary

[Hijo de luna]

 

[Mike809]

When it comes to tech layoffs , they should really say who in tech is losing their job.

Is it actual software developers? or the countless managers and product people that companies are usually bloated with.

 

[Apollo Creed]

No argument.

But if you want stability, all holidays off and not worrying about budgets or stock price, and layoffs that's your winner.

those types dont tend to make it into Big Tech thats the thing lol.

Govt is great for folks who climb the ranks in an IT department at some Non Tech Company and want to coast to retirement/have a lighter workload so they can start a family.

Big Tech if you can find a way to get +15yrs in you are pretty much a Millionaire just from Equity.

 

[Apollo Creed]

When it comes to tech layoffs , they should really say who in tech is losing their job.

Is it actual software developers? or the countless managers and product people that companies are usually bloated with.

Middle Management is whats bloated, majority companies there will always be less PMs because PM:Dev is always a 1 to many thing.

 

[Geek Nasty]

The amazon cuts are necessary

That company is bloated like a muthafukka. There are wayyyyyy too many engineers on H1B that dont do shyt.

Nothing against any Indians dudes on here but yall fukked up the tech market in the US over the last 3-5 years

They churn out a lot of tech talent. The US commoditized our colleges so we can’t afford to do it like they do.

 

[Bleed The Freak]

those types dont tend to make it into Big Tech thats the thing lol.

Govt is great for folks who climb the ranks in an IT department at some Non Tech Company and want to coast to retirement/have a lighter workload so they can start a family.

Big Tech if you can find a way to get +15yrs in you are pretty much a Millionaire just from Equity.

Basically. You can shoot for the NBA but at least in government you can still eat in the G-League

 

[Apollo Creed]

Basically. You can shoot for the NBA but at least in government you can still eat in the G-League

yeah depending on how remote friendly Govt ends up being/coming I'd prob take a leadership role to coast to retirement based on my resume strength.

 

[JT-Money]

Laid off tech workers from Meta, Google and Twitter are being wooed by the federal government

I doubt the Feds will find many takers from silicon valley techies. I wouldn't work for them again no matter what they paid.

 

[dora_da_destroyer]

my linkedin timeline is flooded with layoffs, we had one last week - 15%, operational - ie your role isn't needed vs financial because we 2x'ed and have 150M in the bank...but that's what makes it worse, US companies just dump people no fukks given. i got a friend who went to work in the Netherlands and has been on "burn out" leave, from her job, that's a thing, found another job and can basically have her current job buy her out to leave (this isn't a contract role, i think it's getting paid out all the holidays and leave you're entitled to).

anyway, if you're an engineer - you'll be fine, but all the biz ops/marketing/recruiting/ non tech roles, it sucks, those orgs are always smaller in the first place and last to staff up and first to get cut, it's rough out here for them

bad timing for me as they reorged our team and i'm now reporting to someone i don't care for...i need a new job too

 

[Lord_nikon]

Pluralsight becomes at least the fourth Utah ‘unicorn’ to cut employees in recent weeks.​

Utah tech layoffs continue, as yet another company valued over $1B sheds hundreds of workers

Pluralsight becomes at least the fourth Utah ‘unicorn’ to cut employees in recent weeks.

www.sltrib.com

 

[the bossman]

Even as the tech sector has been hammered by mass layoffs this year — more than 140,000 workers since March, by one count — the vast majority who have been let go haven't remained on the sidelines for long. According to an analysis of laid-off workers conducted by Revelio Labs, a workforce-data provider, 72% have found new jobs within three months. Even more surprising, a little over half of them have landed roles that actually pay more than what they were earning in the jobs they lost.

The findings underscore just how strong the job market remains, even in the face of a cratering tech sector. All too often, losing your job can pose a major career setback — especially when tens of thousands of others in your profession are being laid off all around you. But this time, it appears, getting a pink slip might even, in many cases, provide a career boost. In the midst of a wave of wholesale layoffs, many tech workers are somehow bouncing back stronger than ever.

"The key takeaway is 'do not despair,'" says Reyhan Ayas, a senior economist at Revelio Labs. "The job market is still hot. Although some parts of the tech industry are struggling, other companies are actively hiring."

Today, not only are laid-off tech workers finding jobs quickly, Revelio Labs found, but 52% are actually earning more than they were before. It goes to show the kind of salaries that new hires are able to command in the current job market. To attract job candidates, as I recently reported, employers are still being forced to offer salaries that are 7% higher than those they pay their existing staff. That salary premium for new hires, it turns out, applies not only to employees who leave their jobs voluntarily but also to those who have been laid off.

That's not to say that laid-off tech workers will continue to face great job prospects forever. November was a bloodbath for the tech industry, with giants like Meta and Amazon making especially deep cuts. If the layoffs continue, the economy will eventually become oversaturated with tech workers — at which point their job searches will take longer, and more will be forced to accept lower salaries. But the data suggests that we're not there yet — at least for now.

 

[Yinny]

Interesting as all my clients (my sector) for my role is tech-they’ve been tightening budgets and line iteming us significantly so we’ll see how this plays out. Hasn’t happened to me yet but a few of my coworkers have sent emails and gotten bounce backs from employees no longer at the companies.

 

[the bossman]

Skilled tech workers snapped up despite downturn

For those with experience in AI, automation and cloud computing the tech downturn is not a big problem.

www.bbc.com

 

[HabitualChiller]

This is the problem with the educational system. There should be an apprenticeship/trade path in high school for skilled workers like plumbers and electricians.

Mine had one for Welding, HVAC and Carpentry.

It should be the standard, yes, but some high schools actually do have a pathway into those fields.

 

[HabitualChiller]

It will!! And I’m trying to make sure I’m ready to buy my house next year! Hopefully the interest rates will go down by the time I have everything in order

shyt, I hope the housing market crashes in early '24 when I get back to the states. Gonna get some mighty fine real estate