Eternal Tecate
Superstar
Most of the companies doing layoffs are publicly traded no? That seems like the underlying reason
Tech Industry job layoffs looking scary
- Thread starter dtownreppin214
- Start date
Mainly networking and admin work. It's not really the layoffs per se it's just a lot of the bs that goes on in tech. I made a thread about it months ago. But I probably won't jump ship just voicing my frustration.
ZOOM
www.nbcnews.com
TECH NEWS
Zoom to cut workforce by about 15%, citing economic uncertainty
After having grown rapidly to meet booming demand early in the pandemic, the company joins the recent wave of tech industry layoffs with plans to let go of around 1,300 employees.
TECH NEWS
Zoom to cut workforce by about 15%, citing economic uncertainty
After having grown rapidly to meet booming demand early in the pandemic, the company joins the recent wave of tech industry layoffs with plans to let go of around 1,300 employees.
Zoom, the videoconferencing giant that grew rapidly during the pandemic, said on Tuesday that it was laying off 15 percent of its work force, or about 1,300 employees, becoming the latest tech company to cut back amid looming concerns about the economy.
Eric Yuan, Zoom’s chief executive, cited the company’s rapid hiring during the pandemic as well as “the uncertainty of the global economy” as factors in the company’s decision to cut labor costs.
“We worked tirelessly and made Zoom better for our customers and users,” he wrote in a blog post on the company’s website. “But we also made mistakes.”
From July 2019 through October 2022, Zoom’s work force grew by more than 275 percent, to 8,422 employees, according to filings to the Securities and Exchange Commission. When people were isolating at home at the height of Covid shutdowns, many businesses and schools became reliant on Zoom to maintain their operations.
www.nytimes.com
Eric Yuan, Zoom’s chief executive, cited the company’s rapid hiring during the pandemic as well as “the uncertainty of the global economy” as factors in the company’s decision to cut labor costs.
“We worked tirelessly and made Zoom better for our customers and users,” he wrote in a blog post on the company’s website. “But we also made mistakes.”
From July 2019 through October 2022, Zoom’s work force grew by more than 275 percent, to 8,422 employees, according to filings to the Securities and Exchange Commission. When people were isolating at home at the height of Covid shutdowns, many businesses and schools became reliant on Zoom to maintain their operations.
Zoom Joins Tech Giants in Announcing Layoffs
The company is cutting 15 percent of its work force, or about 1,300 jobs, citing “the uncertainty of the global economy.”
IsThatBrothaMouzone?
Superstar
Agreed. It's collusion to keep the worker bees in line. A true "free market" creates winners and losers.....winners would have to pay big money for talent.What I feel like this is really about. A lot of these companies don't even need to layoff looking at their financials.
They get to trim the fat laying off a lot of Staff engineers who were basically in vest and rest mode while also resetting the salary offer bands for '23 and '24
Then the psychological effect of the layoffs has every one focused and working harder as they push stricter KPIs and metrics
With Boomers retiring, there's simply more jobs than people. Companies don't like to compete if the game is not already rigged in their favor.
This WILL NOT have the intended effect. It just makes Millenials and especially Gen Z, more like mercenaries with zero loyalty or concern for the company. People are gonna work side gigs and do whatever THEE FUKK they want. Big Biz is happy with themselves right now....but they're finna learn a hard lesson.
Workers under the age of 40, they on that demon time since COVID. This is basically revenge from 2007 to 2015 when the economy was shyt and everyone was getting low balled.
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Breh the problem is people tend to forget the bad times soon as the good times arrive.
There’s 2 types of people.
1. Those who experience calamitous events and after surviving it, devote their time to ensuring it never happens to them again.
2. And there are those people who go through difficult trials in life and at the end of it, breathe a sigh of relief on some “phew! Glad that’s over. Now let’s PARTY!!!!”
I’m sure u can guess where the vast majority fall.
These layoff reaction videos are all over YouTube.
Sad shyt.
But like she said, if you stay ready you don’t have to get ready. I’ve been getting my affair in order since last year around this time
Bragging where? Why would I talk down to anyone when I am fortunate? Nobodies job is ever secure, I don’t even work the same job I was at a few years ago
either way, I’m not better than anyone here just lucky as hell. What I do isn’t unique or hard, I just happened to get years of experience in a field companies deem valuable (for now).
On an enterprise level I’m seeing wayyyy more companies offer Mac than Dells.
r/overemployed>>>>
Never stop submitting applications and interviewing
For black people in tech it’s necessary to have at least 2 full time remote jobs
Belize King
I got concepts of a plan.
I’ve never heard of that. My Aunt worked for HP back in the early 2000’s and “survived” 6 rounds of layoffs before finally getting let go.I didnt even know they could decrease your salary like that
Cutting salary wasn’t a question.
As soon I heard a salary cut I was thinking is that even legal? Better to have a job than not have one. She came from AmGen making 120k. Sometimes the grass isn’t always greener.
I told her maybe you should get away from big tech. Don’t do the financial sector, but big tech seems scary right now. We have another 2-3 years of the Feds fighting inflation per them. Its going to be a scary ride.
I posted this in an AI art group but it is semi relevant here as well; for those who assume that they and their chosen career/segment will always be "safe..."
The "diesel that did it" the EMD FT diesel locomotive was introduced in 1939. By 1959, the Norfolk and Western railroad threw in the towel and retired their last steam locomotive. In 20 years the entirety of America's steam locomotive fleet had been replaced (including models that were less than 10 years old, you'd think they would have been "safe"
) by what many deemed then an inferior upstart. And of course, along with the end of steam locomotive went the hundreds of thousands of jobs that went into the support, operation, and maintenance of the old beasts and the infrastructure surrounding it.
I guess you could say at this moment we are in the Steam era of computing. AI is the diesel locomotive. ChatGPT isn't the EMD FT, it's more like the little diesel switchers that moved freight cars around in the 1930s, a novelty that was showing more than just promise but opportunities for practical applications and a foundation for something transformative on the horizon.
The thing is, technology moves a lot faster than it did in the 30s, 40s, and 50s. Once the "AI that did it" is realized it won't take 20 years to make this "Steam" era obsolete and since most jobs these days aren't unionized the redundancies will be dispatched posthaste instead of dragged out over the ensuing decades.
The "diesel that did it" the EMD FT diesel locomotive was introduced in 1939. By 1959, the Norfolk and Western railroad threw in the towel and retired their last steam locomotive. In 20 years the entirety of America's steam locomotive fleet had been replaced (including models that were less than 10 years old, you'd think they would have been "safe"
) by what many deemed then an inferior upstart. And of course, along with the end of steam locomotive went the hundreds of thousands of jobs that went into the support, operation, and maintenance of the old beasts and the infrastructure surrounding it. I guess you could say at this moment we are in the Steam era of computing. AI is the diesel locomotive. ChatGPT isn't the EMD FT, it's more like the little diesel switchers that moved freight cars around in the 1930s, a novelty that was showing more than just promise but opportunities for practical applications and a foundation for something transformative on the horizon.
The thing is, technology moves a lot faster than it did in the 30s, 40s, and 50s. Once the "AI that did it" is realized it won't take 20 years to make this "Steam" era obsolete and since most jobs these days aren't unionized the redundancies will be dispatched posthaste instead of dragged out over the ensuing decades.
