Tech Industry job layoffs looking scary

[desjardins]

They used to have the exact Amazon OA questions in the leetcode forums like 3-4 yrs ago
When I did the OA it was one of the questions people said would be on there, a variation of Rotten Oranges. I was so new/bad at leetcoding back then I still failed though
They claim Amazon was hiring entry level developers just off the OA then, meaning you got the job without ever doing a technical round with a real person. Some where out there is a person making 200k+ off of having the answers to the test

 

[IIVI]

"wealth creation" is a loaded term. Job Reliability does not = Wealth Creation.

Well, that's on the person themselves to manage. If you're bad with money you're going to have a tough time building wealth whether you make $50k/year or $500k/year.

A reliable nursing job for 40 years and you can't save enough and invest properly, that's on you.

I know a lot of nurses with absolutely insane retirement plans and that's on top of what they've earned through their careers. More than any tech and engineering people I know, that's for sure.

A reliable, high-paying job is the first part of wealth creation for most people. I know a nurse who's done insane for her family who'll inherit a fortune because she knew what she was doing.

 

[JT-Money]

Meta is laying off employees at WhatsApp, Instagram, and more​

Meta is laying off employees at WhatsApp, Instagram, and more

The cuts come after CEO Mark Zuckerberg declared 2023 to be the ‘year of efficiency.’

www.theverge.com

 

[Serious]

 

[JT-Money]

Meta reportedly fires staffer on $400k a year for spending $25 meal credits on toothpaste and tea​

Meta fires staffer on $400k a year for spending $25 meal credits on toothpaste and tea

Meta employees online alleged the fired staffers spent their in-office meal credits on goods even when working from home.

fortune.com

Writing on Blind, one Meta staffer outlined that employees are given a $25 GrubHub credit if they work past 6 p.m. in offices that don’t have cafeterias on site.

A post seen by Fortune on the Blind platform alleges the disgraced staffers were ordering meals when they weren’t even in the office, were giving their credits to other members of staff, or were using the credits to buy groceries and other household essentials.

Between 20 and 30 members of staff have reportedly been laid off.

I didn't even use my stipend at some companies. It wasn't worth the hassle cheap MFers.

 

[JT-Money]

Amazon cloud boss says employees unhappy with 5-day office mandate can leave​

https://www.cnbc.com/2024/10/17/aws-ceo-says-employees-unhappy-with-5-day-office-mandate-can-leave.html

 

[Serious]

 

[JT-Money]

 

[AAKing23]

My company just got fukking ripped with layoffs, mostly in the IT and Finance sector. They fired like half of the IT people

I survived the cut but I don't know for how long

I've been here for about 2 years and been stacking big time so I ain't really worried if I end up getting cut but yeah this shyt crazy

 

[JT-Money]

Silent firing is the new quiet quitting​

https://www.fastcompany.com/91216857/silent-firing-is-the-new-quiet-quitting

There may need to be a new term invented for the wave of jobs that will be lost due to AI. For those who missed it, quiet quitting gained momentum during the pandemic. People would do the bare minimum or less in an effort to collect an easy paycheck or be fired with severance.

But the inverse might be gaining momentum soon. Silent firing is where companies make jobs more difficult in the hopes that employees quit, so their jobs can be automated. AI spending has all the markings of a capital expenditure: high upfront costs; ROI to be realized over the longer term; and following the spirit of Moore’s Law, any assets you create will rapidly depreciate in value. From my experience on the hedge fund buy side, these factors make headcount reduction inevitable. Companies will need to show ROI on these AI investments, and through an ROI lens, this means job replacement.

 

[Insensitive]

It's really all about vacuums.

People forget, traditional STEM was actually pretty bad before the tech industry. A lot of traditional engineers graduated college and couldn't get jobs. Only like 1/4 of people with STEM degrees worked in STEM 10 years ago.

Then the tech industry hit, offered high salaries and WLB and those people finally had a place to go to. Many traditional STEM workers were leaving their fields to go into tech and many people changed their college major.

Tech created a vacuum where there are openings in other fields because of the brain drain effect it had. The next big thing will do the same but that's a reminder to be on the lookout for what's being left when that happens. A lot of Civil Engineering graduates are sitting real good right now because there's a lack of them as they mostly went into CS.

No matter what, the most constant, reliable thing will always be the health industry. A lot of very smart people can't work that field because while it requires brains it also requires a human touch and the stomach for blood and illness. That's one of the only true high floor/high ceiling fields where some of the best and brightest work.

You can see this with the top firms in tech vs. other fields.
Well paying roles in my field (Aerospace) will get maybe 100 applicants? or double that?
These are GREAT paying jobs! ($100k+) whereas the equivalent role in tech will get 3x to 10x the applicants
(obviously the compensation is better too but the field in general has a much stronger brand than others!).

This leaves a great amount of opportunity for people who are late starters or who don't super competitive resumes.
Having the education + the drive + any additional qualifications can put someone in that $100k+ range inside of 5 years without
entering Tech.

Obviously I'd still like to make the jump to Tech for the considerably higher comp but I'm also very open to just staying where I'm at
and moving into higher grade roles by jumping companies or through opportunities internally.

 

[IIVI]

A lot of people have left my company (yes still here after all the crazy shyt I mentioned this last year). This was on top of the layoffs.

Another key person has also sounded miserable and I'm pretty sure is probably job hunting right now as well.

They haven't replaced many either so I'm guessing if there are any layoffs whatsoever to close the year it should be pretty light.

 

[Yzak]

People taking advantage of the hybrid model by not meeting the three day in office quota, so it’s only a matter of time before it’s five full days again

This is what I do LMAO

I usually get in 1-2 days and will only do about 6 hours.

I feel like people shouldn't roll over and should show how unpopular it is by not complying.

 

[Obreh Winfrey]

A lot of people have left my company (yes still here after all the crazy shyt I mentioned this last year). This was on top of the layoffs.

Another key person has also sounded miserable and I'm pretty sure is probably job hunting right now as well.

They haven't replaced many either so I'm guessing if there are any layoffs whatsoever to close the year it should be pretty light.

We will trying to get out the hood. Only wait out is to die or get laid off

 

[Yzak]

Exactly. You can tell who works in the corporate world and who doesn't. Yall have people in this thread talking about how they can't even get a shot with the education/experience they have but folks want to say it's because we are anti-education.

We gotta make our own companies and that comes from having a more educated population.