Tech Industry job layoffs looking scary

[JLova]

Everybody was bashing Elon, but once they saw that he cut 70% of Twitter staff and the company was still running without a hitch, a lot of ceos decided to follow suit. They all can lay off together to avoid any one company getting bad press and they can blame 'the recession'. The reality is these companies are soft-colluding to trim costs for shareholders, because they are all turning profits and still laying off.

Not all companies are the same. If all companies cut 70% of their workforce they would be in trouble.

 

[JLova]

Most of these laid off people got caught slipping. If you plugged into what's going on at your Org. You should know when layoffs are coming and move accordingly.

Some people value job security over money. I would rather make as much money as possible and worry about job security later.

Sometimes it's obvious, other times it is not.

 

[the bossman]

But the job numbers were 10x better than estimates and we keep hearing how great the job market is. People are getting trolled something serious.

These are headlines though. They represent a small number in the grand scheme when you look at total employment. Unemployment is still at record lows despite big tech layoffs

 

[the bossman]

You still haven’t learned your lesson. To each his own I guess

Your advice works well for people who have little value to add to a company. People with in demand skills should always be looking for the best opportunities. And in this environment there's plenty

 

[JLova]

These are headlines though. They represent a small number in the grand scheme when you look at total employment. Unemployment is still at record lows despite big tech layoffs

In the grans scheme of things it is. But once you take a look at the jobs, the numbers are hella skewed. A lot of people are working multiple jobs. Also a lot of low paying jobs are being included while high paying jobs are getting wiped out. The public is getting played.

 

[JetFueledThoughts]

By this logic, you never switch jobs, because as a new employee you're mostly at risk of getting laid off.

If you are in tech and you can't land a new job in 6 months you're a slouch. I know people juggling 3 jobs. If you are a proficient techie then getting laid off should be the least of your concerns. Take a month off, leetcode, spread your net wide, and you'll be back in, in no time.

With that in mind, if a job comes offering a good bump in pay, I'd say take it. Unless your severance at the first job is a good chunk of money. In that case, just do both jobs simultaneously

No. By this logic, you never switch jobs in a market where layoffs are spreading unless you have a damn good financial reason. If you hate your job that’s a different story. But if you’re ok w/ your job and you’re valued there, then there is value in security.

I field calls for new jobs all the time, but if they’re talking about a 10% increase on OTE, I can’t even entertain it. And I’m always down to pursue a new opportunity, my resume doesn’t have a single company on it where I spent more than 3 years.

But I also work on the business side of tech, not development / coding. So my line of work usually comes with having to build up a new book of business wherever I go next. So that 10% increase is really like a 30% decrease Year 1 with a potential for 10-20% increase after that. If I like what I’m making today? Nah I’m cool on moving. 1 in the hand, 2 in the bush.

 

[JLova]

As far as a ‘better opportunity’… grass is always greener, I’m sure most people in this thread (me included) have left for a new job before and regretted it within the first few months.

And in a market where companies are looking to cut cost and headcount, people 6 months or less into a job are usually the first targets. Unless you hate your job or have a chance to go make 40% more elsewhere, it isn’t a bad move to stay somewhere that you are valued or seen as ‘critical’ to the business

"grass is greener" shyt is fear.

 

[TRUEST]

These are headlines though. They represent a small number in the grand scheme when you look at total employment. Unemployment is still at record lows despite big tech layoffs

Do you understand what that even means? Sounds like you’re saying it on some “relax everyone. No need to worry. Unemployment is still at record low”.

Brethren, don’t parrot things u hear without understanding what they mean.

Everything starts small and can grow to be better or worse.

Imagine you and a few of your boys are in a vicious battle of some kind. You are the first and only casualty. As far as YOU are concerned, that battle was lost. You are dead. Gone. A citizen of the land of memories. Your group may later win the battle but that victory changes nothing for you. You may not even die in that battle. But what is left of you makes a incomplete man. Destitute.

So ‘record low unemployment’ is a perfectly useless talking point in every day conversations.

 

[JetFueledThoughts]

"grass is greener" shyt is fear.

100% lack of fear creates an animal with no self-preservation instinct.

And like I said, I’ve never spent more than 3 years at a job, but I also know how to navigate job changes. In a market where companies are laying off across the board I’m not leaving a secure job for a 10% salary increase.

 

[JLova]

100% lack of fear creates an animal with no self-preservation instinct.

And like I said, I’ve never spent more than 3 years at a job, but I also know how to navigate job changes. In a market where companies are laying off across the board I’m not leaving a secure job for a 10% salary increase.

What makes you think your job is secure? Unless you work for the government yiur job is not secure. I’d everyone’s cutting it doesn’t matter whether you stay or go. Yiu are still vulnerable.

Now I’d you’ve been at a company 10 years…stay and get that severance.

 

[the bossman]

Do you understand what that even means? Sounds like you’re saying it on some “relax everyone. No need to worry. Unemployment is still at record low”.

Brethren, don’t parrot things u hear without understanding what they mean.

Everything starts small and can grow to be better or worse.

Imagine you and a few of your boys are in a vicious battle of some kind. You are the first and only casualty. As far as YOU are concerned, that battle was lost. You are dead. Gone. A citizen of the land of memories. Your group may later win the battle but that victory changes nothing for you. You may not even die in that battle. But what is left of you makes a incomplete man. Destitute.

So ‘record low unemployment’ is a perfectly useless talking point in every day conversations.

Low unemployment isn't a useless talking point. It's based on real numbers reported every month. What's your scary imagination based on?

The reality is that people with in-demand skills will be fine. You actually think an engineer who was doing AI at Google will struggle to find another high paying job?

You underestimate the demand for top talent. There's a TON of companies that are still going to have to make attractive offers to get that engineer who was laid off from a Google, Microsoft, Twitter, Amazon, etc. The only ones assed out from those companies are the 'day in the life' tiktok project managers.

 

[Spence]

Most of these laid off people got caught slipping. If you plugged into what's going on at your Org. You should know when layoffs are coming and move accordingly.

Some people value job security over money. I would rather make as much money as possible and worry about job security later.

That’s fine until you have a gigantic mortgage and kids to feed. Back when I was young and dating though this def was my mentality.

 

[papa pimp]

In the grans scheme of things it is. But once you take a look at the jobs, the numbers are hella skewed. A lot of people are working multiple jobs. Also a lot of low paying jobs are being included while high paying jobs are getting wiped out. The public is getting played.

From all the data I've come across, those people fired from high paying white collar jobs are not in the job market for very long. You cannot use roles at a FAANG or Big 4 as the litmus for "good job" when these people are landing at jobs that are still well above the median salary. So while I agree that ultimately there will be a rollback for people who enjoyed insane perks at the very top of finance, tech, etc, you are greatly exaggerating it. I work at a FAANG and most of my colleagues who got purged had new jobs within 2 months max at pretty good companies.

 

[JetFueledThoughts]

What makes you think your job is secure? Unless you work for the government yiur job is not secure. I’d everyone’s cutting it doesn’t matter whether you stay or go. Yiu are still vulnerable.

Now I’d you’ve been at a company 10 years…stay and get that severance.

Well my company has done 2 rounds of layoffs in the last 9 months amounting to 20% of our 2022 headcount and I wasn’t touched.. and I was promoted last month… other than that, no job security at all.


All that aside, nobody is immune to layoffs, me included. But my whole point is that you’re less vulnerable if you’re at a company where you have a track record of success and contributions, as opposed to in your first 6 months at a new job where people still aren’t sure if you’ll work out or not.

 

[TRUEST]

Well my company has done 2 rounds of layoffs in the last 9 months amounting to 20% of our 2022 headcount and I wasn’t touched.. and I was promoted last month… other than that, no job security at all.


All that aside, nobody is immune to layoffs, me included. But my whole point is that you’re less vulnerable if you’re at a company where you have a track record of success and contributions, as opposed to in your first 6 months at a new job where people still aren’t sure if you’ll work out or not.

Breh some people just like to argue. Dude is being reckless BUT I doubt he would actually do what he’s advocating on here if he had any real financial responsibilities.