Tech Industry job layoffs looking scary

[JT-Money]

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

Yeah, but how much free money in terms of interest rates at zero did Wall Street get compared to stimulus payments to main street? That stimulus money was long gone way before inflation skyrocketed. This is all on the Fed keeping interest rates low for too long.

If you listen to most earnings calls companies spent most their surplus on dividends and stock buybacks. If they kept some of that money they could weather a Recession without massive layoffs.

The bet companies are making now. Is that in a year or two they'll just rehire workers. But at considerably lower salaries.

 

[JLova]

Yeah, but how much free money in terms of interest rates at zero did Wall Street get compared to stimulus payments to main street? That stimulus money was long gone way before inflation skyrocketed. This is all on the Fed keeping interest rates low for too long.

If you listen to most earnings calls companies spent most their surplus on dividends and stock buybacks. If they kept some of that money they could weather a Recession without massive layoffs.

The bet companies are making now. Is that in a year or two they'll just rehire workers. But at considerably lower salaries.

Agree, the Fed fukked up royally and ignored inflation. They got it so wrong on inflation and many innocent people are going to pay for that.

 

[JT-Money]

Agree, the Fed fukked up royally and ignored inflation. They got it so wrong on inflation and many innocent people are going to pay for that.

Biden should've got some new blood at the Fed coming into office. He's gonna need a miracle on the economic front for any chance at re-election. But I don't see it happening and the economy is gonna continue to crater.

 

[JetFueledThoughts]

Lotta panicking in this thread if you scared go to church

 

[broller]

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.

Aight aight I hear you not wanting to give too much out about yourself. I was wondering if you were in healthcare or education

 

[Gloxina]

Aight aight I hear you not wanting to give too much out about yourself. I was wondering if you were in healthcare or education

Healthcare is definitely one of those fields

 

[bnew]

 

[the bossman]

What's your industry?

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.

Healthcare will always need tech folks
Government (state, local, & federal) will always need tech folks
Education will always need tech folks
Law firms will always need tech folks
Transportation & energy companies will always need tech folks
Even if a big name bank is doing some layoffs, by and large the majority financial services companies will still always need tech folks

Basically any kind of essential service that's needed no matter how the economy is doing.

All these industries are scooping up the folks who are getting laid off from big tech companies right now

 

[Apollo Creed]

Healthcare will always need tech folks
Government (state, local, & federal) will always need tech folks
Education will always need tech folks
Law firms will always need tech folks
Transportation & energy companies will always need tech folks
Even if a big name bank is doing some layoffs, by and large the majority financial services companies will still always need tech folks

Basically any kind of essential service that's needed no matter how the economy is doing.

All these industries are scooping up the folks who are getting laid off from big tech companies right now

In the context of Big Tech, finding another job ismt really the issue, the concern is losing the big tech pay and perks.

 

[DJSmooth]

That's fukked up

 

[bnew]

That's fukked up

Stock buybacks use to be illegal until 1982 because it was considered market manipulation.

 

[desjardins]

They need employees to do what jobs for how much money? When you dig deeper you realize majority of those jobs are low paying.

My bad, I'm talking about SWE jobs. Not so much HR or help desk type jobs.
Just checked levels.fyi and people are still getting 6 figure offers. The days of people with 5 yrs experience getting $350k offer might be over for the time being but getting $150-250k even is still better than majority people with a bachelors in this country. especially in your 20s - 30s. Also all the people who hit a lick and didn't get laid off are seeing their income levels bounce back as the stock rises due to the lay offs and buy backs

 

[TRUEST]

They don't want the middle class to gain NO type of leverage.

They’re actively trying to keep the working class, in that working class.

I honestly thought it was conspiratorial to harbor that sentiment. But when I read that a government official said the general public has too much money, my inner suspicion was validated.

It makes sense why they had to brainwash kids early on to go to expensive “prestigious” universities, with the expectation they will graduate with large loans that will ensure they work for the next 15 to 20 years. They’re aware that on top of the loans, people buy cars, houses. They have kids. So that is bills upon bills.

I honestly see an opportunity here for an exposure. A whistleblower. Cause folks need to be aware that the government doesn’t really have their best interest at heart. Find a way to exit the rat race fast cause this is no way to live. Hard working folks are terrified of losing their jobs, all because some guys at the top agreed on a decision.

 

[Gloxina]

They’re actively trying to keep the working class, in that working class.

I honestly thought it was conspiratorial to harbor that sentiment. But when I read that a government official said the general public has too much money, my inner suspicion was validated.

It makes sense why they had to brainwash kids early on to go to expensive “prestigious” universities, with the expectation they will graduate with large loans that will ensure they work for the next 15 to 20 years. They’re aware that on top of the loans, people buy cars, houses. They have kids. So that is bills upon bills.

I honestly see an opportunity here for an exposure. A whistleblower. Cause folks need to be aware that the government doesn’t really have their best interest at heart. Find a way to exit the rat race fast cause this is no way to live. Hard working folks are terrified of losing their jobs, all because some guys at the top agreed on a decision.

My uncle said he saw it coming and figured it out decades ago so his made financial moves to ensure he could retire early. He and a few of my aunts chucked the duces at 50 and have been traveling and chillin.

I’m trying to get it together and make some shyt happen so I can do the same in 20yrs.

White dude strolled into my office today and the doctor got all in his business. By the end of the visit we all learned he invested in real estate a couple times and made enough in the sale + rental properties to retire in his 30s.

Man listen. There are ways to beat the system, but you have to know that you are truly in a system set up to keep you on the hampster wheel.

 

[CodeBlaMeVi]

Biden should've got some new blood at the Fed coming into office. He's gonna need a miracle on the economic front for any chance at re-election. But I don't see it happening and the economy is gonna continue to crater.

They serve 8-year terms. An administration doesn’t just switch them up.