Tech Industry job layoffs looking scary
- Thread starter dtownreppin214
- Start date
Microsoft laying off 11,000 
www.windowscentral.com
Microsoft reportedly to lay off 11,000 employees on January 18th (Update)
Up to 5% of Microsoft's workforce is rumored to be getting let go.
www.windowscentral.com
threattonature
Veteran
I been dying to get laid off at my new company lol. I just want a mental break from working even if for a month before starting the job search.
My old company I left a little over a year ago went the route of changing shyt up so that people quit on their own. They changed from a profit sharing plan for the 401K to a basic match. We used to get up to 15% salary match paid directly to our 401K each year which we usually hit to matching 4% for every 5% put in. They forced anyone that lived within an hour of the office to switch to coming into the office even if they were remote before the pandemic. After a mass exodus they just keep adding more and more duties to existing employees. I had so many people from that company hitting me up asking about openings at my current spot.
welcome to healthcare
threattonature
Veteran
This happened at both my old and new company. Both companies shorted their employees on raises due to uncertainty financially for the immediate future while paying out a crazy amount in dividends and share buybacks. The old company I know for sure spent 26 million alone in a special dividend and 20 million in share buybacks. In both instances people brought it up to the CEO during a town hall and both gave the same answer, you have to keep shareholders happy to attract more investors and that the shareholders own the company so it's their money to decide what to do with the profits. Basically saying fukk the people who kept the company running and take on more and more responsibilities as employees have been jumping ship.
Gritsngravy
Superstar
This makes a lot of sense
I wonder is there a way to track companies employees and their locations
It's a new era. You are a slave to your company's shareholders. Every quarter, hold your breath. If the numbers don't meet lofty expectations, they will lay people off to appease shareholders. Even companies that do well find themselves still laying people off for that reason. That's why yo do YOU. No loyalty for employers. My linkedin blowing up with entire departments getting canned. It's not about getting rid of low performers anymore. They're getting rid of good workers. As long as the Fed keeps it up we will see more tech companies cut staff. I think we will see all the staff hired from the pandemic get cut. They will get back to pre-pandemic headcount.
How much severance can you get with less than a year service? I figure they're getting a couple weeks worth?
Days after giving everyone unlimited PTO and investment in Chat GPT. These companies are a$$holes.Microsoft laying off 11,000
Microsoft reportedly to lay off 11,000 employees on January 18th (Update)
Up to 5% of Microsoft's workforce is rumored to be getting let go.
I hope you didn't stop your job search. Keep lookingI’m waiting for a FAANG company for an offer for a job I got in December.
It’s been radio silence due to their hiring freeze
Every company has a standard severance package for layoffs as soon as you start on day 1. Sometimes companies offer more than that if they can afford it.
Most generous I saw was like 5 months of base salary plus 3 months of equity vesting.
I work in healthcare. I’ll be sending you my resume.
It's a tech company, but it's product is a healthcare software platform.
I would not work in straight up healthcare, stable but no financial upside. At this point in my career, I need stock to be part of the pay package.
I thought US companies gave crap severances?
