Tech Industry job layoffs looking scary

[humminbird]

Oh please. If you have any of those companies on your resume you won’t be unemployed for long.

made me laugh when all the twitter layoffs happened
all they had to do was tweet they got laid off and got more DMs than an onlyfans woman

 

[Tribal Outkast]

All these people posting their cool ass job online better be watching this. Just blowing up your spot for no reason smh

 

[skyrunner1]

That’s not what I mean. When people fall behind and are forced to liquidate, banks do inspections/appraisals on those homes depending if it goes into foreclosure, short sale or goes into the real estate owned space. The bank needs to know the value and condition of property. I’m not saying it will be like the last couple years but if they hold tight, business will comeback around. I’ve seen people who bought in the last two years already have to sell at a loss for various reasons. It’s starting now.

My job did a mass layoff earlier this year. I just pray I’m safe for any future reviews.

I get what you are saying, and you are right what I am saying in the real estate cycle things ebb and flow even though I think things will be different compared to last cycle if we take your example of going into foreclosure it is exactly what I am saying in only strong n competent will survive. Those banks and vendors will use their contacts and even with technology that will aggregate towards small number even more. I know people in last crash who KILLED it, there are always victors when everyone else is saying its blood in streets, thats why I say many need to skill up/network, its gonna be tons of opportunity.

They not gonna supply the whole market place and say hey you get an inspection, you get an appraisal, they will give a few at top the leads and then drive the price DOWN.. So even those top guys with contacts will have to work harder for less. They still gonna eat but not how they were eating before. I got a friend who bought a million dollar house off doing appraisals this last run up, lol.. He was clocking like 30k monthly in '21. He been in game a minute tho and he knew it wouldnt last forever, most people werent around last crash so they dont even know how to move..

 

[null]

I work for an insurance company. They just released financial data. We good.

trailing indicator innit ...

 

[ObsidianDev]

Winter is coming

 

[Gloxina]

Yup deliberately created by the Fed to curb inflation. It's fukked up.

“In a perfect world, the Fed would slow the jobs market enough to get inflation back to healthy levels, but not so much that it causes significant and persistent job losses. Bank of America doesn’t think the Fed will be able to pull that off.

‘We are looking for a recession to begin in the first half of next year,’ Gapen said.”
_____________________________________

People called this months ago and they said we were crazy. Cutting jobs and the recession is on the way.

This shyt is about to be ridiculous.

 

[semicko82]

 

[Gloxina]

Switch to finance or healthcare. I ain’t worked in a year and a half and still get a dozen recruitment emails a day. If you in Dallas you’ll be fine.

Yep. Whatever recessions/rocky financial times that have occurred in recent times….didn’t really feel it. And I thank TMH.

 

[null]

One thing you have to remember is that Tech in particular is subject to boom/bust outside of the stalwarts like Microsoft/Apple/Google/Amazon

Many of those companies grow at exponential rates, and in many cases unsustainably. WeWork is a great example of this as well.

WeWork was anything but a tech company ...

Too many start-ups and traditional companies have an aversion to running lean. They think it makes them look unsuccessful/don't have growth. And in the cases of Social Media platforms like Meta there's a big conversation around disinformation and advertising that's causing people to not spend their money on the platform for good or ill.

In the case of Intel, the US just announced that they are freezing chips and semiconductor R&D AND manufacturing in China. China is Intel's biggest market for semiconductors and chips. So if China can't make them at the rate they did, they can't sell them at the rate they did. So they take a hit as well.

Other industries don't have these kinds of issues. Travel/Hospitality are banging right now.

There's going to be a downturn, will it be like 08? No.

In the UK it is widely predicted to be worse that 2008.

UK facing into the longest recession since records began, Bank of England warns

US prognosis is still an open question for me . Partially because I haven't been keeping up to date and partially because of western economies' addiction to cheap money creating unintended consequences as the money taps are turned off. like the UK pension fund freeze from a few weeks ago.

Too many markets, and people's HOMES aren't in danger like they were then. But Tech is a weird indicator for the economy. I remember the .com bubble bursting and while that hit Wall Street, the average person was (relatively) unaffected.

the .com bubble crash was minimized by cheap money / asset price inflation (which continiued to 2008). this is the opposite to what can happen now.

 

[O.Red]

All those TikTok vids of bytches at tech companies looking like they're chilling and eating at work all day didn't help

 

[Jean toomer]

Meta had crazy growth of employees for the past few years and Zuck during June interview mentioned that meta has a lot of useless employees

Remember seeing all those people posting on TikTok showing how their regular day looked very chill, where they work by the pool or hang out all day and make 100k. Seems like a lot of those jobs are going to get hit

Hell Zuckerberg May be out of a job soon. This meta verse thing is a clusterfukk money pit. Value of the company is down 70% over the last year. I know the board wants his freckle faced head on a platter.

 

[The Pledge]

Man There's so many tech positions out here to eat off. Hospitals specifically, fukk FAANG, Fortune 500 all pay well. Hell, even DOD with a security clearance are feeding brehs. I'm trying to find a sponsoring gig myself.

 

[skyrunner1]

Winter is HERE

FTFY.. U right!

 

[Jean toomer]

I’ve been listening to a lot of Michael Burry (big short guy) videos on YouTube he’s predicting that a lot of the large tech companies have inflated stock prices and the bubble is going to pop soon. Since people who invest usually “play it safe“ by buying the larger tech companies or index funds that do, people don’t research small stocks anymore, and Wallstreet brokers use large tech companies to hedge with, all their prices are inflated.

Be careful. Michael Burry Is smart but he’s also a conspiracy theory nut job. Like the devil, 98% of what he says may be true but it’s that 2% that will destroy you.

 

[Fillerguy]

I work in finance. We've been overworked since nov 2019. This recession was supposed to happen in 2020 but covid fukked that up. Business has been booming and they hiring more ppl.