Tech Industry job layoffs looking scary

[Conan]

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.

I called you out for making a wide assumption:

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.

Feel free to speak for yourself, and if you value security over everything that's fine. A lot of people in tech are more comfortable with jumping, and don't give a damn about security, having confidence in their ability to land on their feet after being let go.

Severance is what, 1-2 weeks per year of service. If you have spent 3 years at your job that's 6 weeks of pay. Sign on bonuses easily exceed that, and if you get laid off they can't claw back sign on bonuses.

 

[Nicole0416_718_929_646212]

WORK

Walmart takes the return to office one step further by asking hundreds of employees to relocate to an entirely new city​

Walmart will close three of its offices and is asking affected employees to move closer to one of its primary offices, like its headquarters in Bentonville, Ark.​

Like many other major companies, Walmart is asking its employees to come into the office more often. In an internal memo seen by the Wall Street Journal, Walmart chief technology officer Suresh Kumar said that the retail giant’s technology workers will be asked to work in person at least two days a week.

But there’s an added catch. Kumar also announced that Walmart would be closing its offices in Austin; Carlsbad, Calif.; and Portland, Ore. Affected workers would either have to move closer to one of Walmart’s remaining primary offices, such as its headquarters in Bentonville, Ark.—or leave the company.

The memo reportedly said that the company would pay severance to those who chose to leave rather than relocate, and that it would cover the costs of those who decided to transfer. The company has not set a timeline for the relocation, reports Reuters.

Walmart did not immediately respond to Fortune’s request for comment, though the company told the Wall Street Journal that some relocated employees will be allowed to become full-time remote workers.

Workers who decide to move to Walmart’s headquarters in Bentonville may be in for a rude surprise. The company has required most employees in its head office to work in person five days a week since last year, according to the Wall Street Journal.

Last year, Walmart announcedthat it would hire 5,000 more technology workers and open offices in Atlanta and Toronto. After the recently announced closures, the company will have 14 technology hubs remaining, primarily in the U.S., but also in Mexico, Costa Rica, and India.

Walmart to force hundreds of employees to relocate | Fortune

Walmart is closing three of its offices and asking affected employees to move closer to its primary offices, like its headquarters in Bentonville, Ark.

fortune.com

At this point - this is The Great Retaliation

 

[Wild self]

WORK

Walmart takes the return to office one step further by asking hundreds of employees to relocate to an entirely new city​

Walmart will close three of its offices and is asking affected employees to move closer to one of its primary offices, like its headquarters in Bentonville, Ark.​

Like many other major companies, Walmart is asking its employees to come into the office more often. In an internal memo seen by the Wall Street Journal, Walmart chief technology officer Suresh Kumar said that the retail giant’s technology workers will be asked to work in person at least two days a week.

But there’s an added catch. Kumar also announced that Walmart would be closing its offices in Austin; Carlsbad, Calif.; and Portland, Ore. Affected workers would either have to move closer to one of Walmart’s remaining primary offices, such as its headquarters in Bentonville, Ark.—or leave the company.

The memo reportedly said that the company would pay severance to those who chose to leave rather than relocate, and that it would cover the costs of those who decided to transfer. The company has not set a timeline for the relocation, reports Reuters.

Walmart to force hundreds of employees to relocate | Fortune

Walmart is closing three of its offices and asking affected employees to move closer to its primary offices, like its headquarters in Bentonville, Ark.

fortune.com

At this point - this is The Great Retaliation

Yep.

These employers are still steaming mad about unruly workers the last few years. A lot of them still pissed off that Gen Z told them to fukk off instead of bowing down and taking low wages previous gens did.

 

[JT-Money]

IT workers fleeced companies during the pandemic desperate for talent. But now the chickens have finally come home to roost.


These idiots broadcasting getting over on companies in publications read by the damn CEO. All over tik tok making day-in-the life videos singing, dancing....

I knew these CEO's would eventually come back like Suge and regulate.

How 4 tech workers capitalized on the Great Resignation and scored higher salaries by jumping companies, with one doubling their pay to $400,000​

How 4 tech workers capitalized on the Great Resignation and scored higher salaries by jumping companies, with one doubling their pay to $400,000

With companies holding bigger budgets for new hires than raises, employees are finding that switching companies is the best way to score better pay.

www.businessinsider.com

 

[Wink Beaufield]

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.

19k people applied for 2 positions.

 

[Mirin4rmfar]

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.

False lol....at my job...it is as if management did a drive by into a crowd and whoever got hit, got hit. We lost highly technical people and many that remain behind are dumb as a brick. Some of the people that got canned I can admit were more knowledgeable than me.

 

[TRUEST]

False lol....at my job...it is as if management did a drive by into a crowd and whoever got hit, got hit. We lost highly technical people and many that remain behind are dumb as a brick. Some of the people that got canned I can admit were more knowledgeable than me.

They most likely made more than u so their salaries played a major role

 

[ROFL_GUY]

mr.peanutn+1™°π

 

[papa pimp]

Retail sales jump 3% in January, smashing expectations despite inflation increase

Retail sales were expected to increase 1.9% in January, according to Dow Jones.

www.cnbc.com

more high interest rates on the way

 

[Serious]

 

[Serious]

IT workers fleeced companies during the pandemic desperate for talent. But now the chickens have finally come home to roost.


These idiots broadcasting getting over on companies in publications read by the damn CEO. All over tik tok making day-in-the life videos singing, dancing....

I knew these CEO's would eventually come back like Suge and regulate.

How 4 tech workers capitalized on the Great Resignation and scored higher salaries by jumping companies, with one doubling their pay to $400,000​

How 4 tech workers capitalized on the Great Resignation and scored higher salaries by jumping companies, with one doubling their pay to $400,000

With companies holding bigger budgets for new hires than raises, employees are finding that switching companies is the best way to score better pay.

www.businessinsider.com

I hope they saved all that money. I hardly spent any of the money I made in 2022. I was like damn, this shyt could be gone tomorrow because I don’t trust this economy.

And I’m in healthcare. The real healthcare not a health tech start up.

During our quarterly report, despite labor shortages they still were dealing with high staffing costs

Doctors already make a shyt ton. Then nurses gotta get paid. Everyone else is expandable in the grand scheme of things.

 

[JLova]

False lol....at my job...it is as if management did a drive by into a crowd and whoever got hit, got hit. We lost highly technical people and many that remain behind are dumb as a brick. Some of the people that got canned I can admit were more knowledgeable than me.

Agreed. ANYONE can get got. I've seen it. Really makes you question how they cut. It's almost like it's random. Dumb people being retained, highly skilled and smart people getting cut. You figure it's salary related but that's the employer's damn fault.

 

[the bossman]

Agreed. ANYONE can get got. I've seen it. Really makes you question how they cut. It's almost like it's random. Dumb people being retained, highly skilled and smart people getting cut. You figure it's salary related but that's the employer's damn fault.

Definitely feels random where I'm at.

 

[JLova]

Definitely feels random where I'm at.

That’s the worst.

 

[Conan]

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.

Why else do you think trucking/trade nikkas was in here gloating