Tech Industry job layoffs looking scary

[Spence]

so this was caused by a bad job report, which the corporations/market caused
it's expected they'll get rewarded for that with a .25-.50% rate cut by the Fed soon since inflation is under control and hiring needs to pick back up
was wondering if this would lead to more layoffs (fukking up the jobs report even more) or can they wait a couple months for the rate cut

goes without saying but IANAE

Only for the rate cuts to happen in fall then a lot of layoffs right before the holidays just like Covid 2020 winter

 

[Michael's Black Son]

Idiot Politicians got finessed again. And we're supposed to keep voting for the same idiots?

Intel Is Cutting More Than 15,000 Jobs Despite Getting Billions From the US Government​

Intel Is Cutting More Than 15,000 Jobs Despite Getting Billions From the US Government

The chipmaker, which has fallen behind competitors, is slashing 15 percent of its workforce.

www.wired.com

Intel, eyed for billions in U.S. grants, will fire 15000 workers

https://www.washingtonpost.com/technology/2024/08/01/intel-layoffs-chips/

This intel thing is pure insanity.

Cut tens of thousands of workers and tanked the stock in one day.

Sheesh.

 

[Mirin4rmfar]

I have zero work life balance man....zero...I want to leave but the job market sucks ass

 

[Secure Da Bag]

Thank god im unemployed... dont gotta stress about gettin laid off

Me too. But I live up to my namesake, so I too don't worry have to worry.

 

[Secure Da Bag]

All these IT people making themselves redundant developing AI


Capitalism

Prompt engineering is the wave. So programmers are always gonna program.

 

[Blessings]

 

[#BOTHSIDES]

Yall think this economy is a political play with the layoffs?

 

[Vaselclean]

Reporting what others have already, so there appears to be something positive going on.

I've had two non Indian recruiters reach out this week, one was a corporate recruiter for a large company.

 

[IIVI]

Was before the talk of rate cuts due to the stock market this morning.

 

[Obreh Winfrey]

Was before the talk of rate cuts due to the stock market this morning.

If I don't get out of this job, I'm hoping this rate cut will make them reconsider cutting the contract for this team doing all of our architecture work on this project. I know I wanted to be an architect one day but

 

[Serious]

22 minute video, halfway through, it’s pretty good listen

 

[Serious]

 

[Serious]

 

[Serious]

Good news

@Spence hopefully this is common

 

[Spence]

Good news

@Spence hopefully this is common

Extremely common. It’s why we are in place. Typically a 3-7% return on a job posting of qualified candidates is doing pretty good.

I had 700 applicants for a remote BA role inside 72 hours and most were qualified (it was a generic BA) but when I post very niche specific qualified positions that’s about the same yield.