Tech Industry job layoffs looking scary
- Thread starter dtownreppin214
- Start date
Better keep them numbers up
Bleed The Freak
Superstar
Rivion 6%
He actually argued that there wasn't too much circulating during the pandemic and kind of lagged behind inflation indicators, but this is good news:
Fed approves 0.25% hike, softening rate increases again
The Fed has raised interest rates to cut prices but the move risks a recession.
abcnews.go.com
desjardins
Superstar
Numbers are pretty much just going back to pre-covid staffing levels. Some of these companies hired like 30-40k ppl during covid, no cap.
Total recent layoffs is still under 100k iirc in an industry that still forecasts needing millions more employees over the next decade. They literally have to ship workers in to do the work the demand is so high. Long term the industry will be fine, especially for experienced people
This month, banking giant Capital One slashed around 1,100 jobs in its technology department.
www.forbes.com
CEOs Will Be Clamping Down On Employees
With a contracting economy, the power dynamic has shifted from employees back to the employer. Workers no longer have the bargaining power they had during the Great Resignation and subsequent labor shortage. The days of employee-centric policies are over, and the bosses are back in charge again.
www.forbes.com
It looks like the boom times are over for investment banking, and big layoffs are back on Wall Street. The news of Goldman Sachs laying off 3,200 well-paid, white-collar workers sheds light on the challenging environment on Wall Street. Declines in initial public offerings, mergers and acquisitions and deal-making have caused a drop in revenue. Global IPO activity fell 45% year-over-year, according to data from Ernst & Young.
Morgan Stanley announced around 1,600 job cuts. Citigroup let go of dozens of people within its investment banking division, as dealmaking continues to slow down. One of the largest money managers in the world, BlackRock, said it would lay off around 500 professionals. Coinbase, a publicly traded cryptocurrency exchange, is once again reducing headcount, slashing 950 positions, in its third round of layoffs within a year. Bank of New York Mellon, one of the oldest financial institutions in America, has plans to cut about 3% of its workforce, representing about 1,500 jobs.
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This is hitting a little close to home
With all these high paying workers getting laid off, who else is left to pay for these high prices of those luxury apartments?
another thing to consider is that when interest rates start going up and operating lines of credit were being renewed woth banks and lenders, these tech companies that grew with 0% interest really felt the impact of higher borrowing rates. These layoffs were expected imo and more to come.
bourgeoisie tall freak
Superstar
my brother just graduated from MIT graduate program and he said it was looking kinda iffy for a job for a minute. he barely got a job like a week before graduation (last week).
Robots could surpass workers at Amazon by 2030, Cathie Wood says
The Ark Invest portfolio manager said on "Squawk Box" that Amazon's number of robot workers is set to grow dramatically this decade.
www.cnbc.com
It was payback all along for the record salary gains.
Column: The real aim of big tech’s layoffs: bringing workers to heel
Wildly profitable tech companies are citing an as-yet notional recession to make deep workforce cuts. They may have another agenda.www.latimes.com
They don't want the middle class to gain NO type of leverage.
Massive tech layoffs around the industry and JP Morgan Threw a $28 million bag at this scammer chick
Jan 31 (Reuters) - PayPal Holdings Inc (PYPL.O) said on Tuesday it is planning to cut 7% of its workforce, or about 2,000 employees, the latest in a list of fintech firms to be hit by the economic slowdown.
The payments firm also joins Big Tech firms and Wall Street titans, which are executing layoffs across corporate America as companies look to rein in costs to ride out the downturn.
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www.reuters.com
Super dirty work going on
The payments firm also joins Big Tech firms and Wall Street titans, which are executing layoffs across corporate America as companies look to rein in costs to ride out the downturn.
Payments firm PayPal to lay off 7% of its workforce to cut costs
PayPal Holdings Inc said on Tuesday it is planning to cut 7% of its workforce, or about 2,000 employees, the latest in a list of fintech firms to be hit by the economic slowdown.
www.reuters.com
Super dirty work going on
