Tech Industry job layoffs looking scary
- Thread starter dtownreppin214
- Start date
If youre a software developer, you're fine. You either go to less prestigious companies if you were in one of these FAANGS and still make bank, just a bit less, or pivot to other areas in the interim.
Also, like someone said, a lot of these layoffs are hitting non-tech related roles like HR and Recruiting which is a given since why do you need recruiters when you're reducing head counts. That is an easy choice for cuts.
So, it's still not a bad idea to enter these type of jobs. Thankfully, I'm in a recession proof industry
I don't make the same as someone who works at Google or Microsoft but we are in a hiring spree at the moment. They are hoping to poach some of these workers from places like the above.
Game over if you’re not in a tech specialization field like Cybersecurity, Data Science or Data Privacy
This is a Bloodbath. Those days of CompSci majors and BigTech running shyt - finished. LowTech
Rise of the Engineers and Architectures
This is a Bloodbath. Those days of CompSci majors and BigTech running shyt - finished. LowTech
Rise of the Engineers and Architectures
BaldingSoHard
Veteran
Yup. Small and Mid-cap value stocks are gonna be the wave for a while.
r/overemployed is the best form of job security. Tech companies usually layoff sales after the initial wave + after start of new fiscal year. Hopefully your job won’t be impacted.
Wink Beaufield
Superstar
The FedGov bout to get slammed with applicants. I saw this play out back in 07-08.
shyt, its already happening even on the entry level fed jobs as well.
shyt, its already happening even on the entry level fed jobs as well.
Phony Tech CEO’s all said they over-hired during the pandemic, but then fired people who been there 10+ yearsIt 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
dora_da_destroyer
Master Baker
yea, startups are still hiring like crazy, i get hit with at least 4-5 recruiter emails/week still, the only issue is it's monopoly money, you'll still get your base, but people were caking off RSU's this past decade. gambling on options hoping a company goes public 5-10 years from now is still a big liquidity hitIf youre a software developer, you're fine. You either go to less prestigious companies if you were in one of these FAANGS and still make bank, just a bit less, or pivot to other areas in the interim.
Also, like someone said, a lot of these layoffs are hitting non-tech related roles like HR and Recruiting which is a given since why do you need recruiters when you're reducing head counts. That is an easy choice for cuts.
So, it's still not a bad idea to enter these type of jobs. Thankfully, I'm in a recession proof industry
So glad I left the bank in 2021
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
If youre a software developer, you're fine. You either go to less prestigious companies if you were in one of these FAANGS and still make bank, just a bit less, or pivot to other areas in the interim.
Also, like someone said, a lot of these layoffs are hitting non-tech related roles like HR and Recruiting which is a given since why do you need recruiters when you're reducing head counts. That is an easy choice for cuts.
So, it's still not a bad idea to enter these type of jobs. Thankfully, I'm in a recession proof industry
What's your industry?
Dudes on Blind going crazy right now. They are panicking
We had an internal call today and my manager said he expects big tech layoffs AT LEAST until Q3. That’s a long time
Basically going to reverse all of the pandemic over hiring.
We had an internal call today and my manager said he expects big tech layoffs AT LEAST until Q3. That’s a long time
Basically going to reverse all of the pandemic over hiring.
I rather not say. There are a few industries that will always be in demand regardless of the economy is all i will say...
I do tech work in a non-tech industry basically. Industries that provide a service instead of a need are the ones feeling the pain.
in the past you could at least depend on folks just bouncing on their own lol but these big tech companies laying off then having hiring freezes
They need employees to do what jobs for how much money? When you dig deeper you realize majority of those jobs are low paying.
Central banks and Fed governments fukked a lot of people. When Trump was handing out money no one thought about the impact. I did. I said inflation was going to rock. Now look at the mess.
We close to 100K in a frigging MONTH! This is armageddon for Tech jobs
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