Tech Industry job layoffs looking scary

JT-Money

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My company has a huge presence in India. Yet always looking for volunteers to fly over there for a few weeks to babysit them. Whenever they screw something up royally. The Indians they bring over on H1-B visas don't need constant handholding.
 

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DrBanneker

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https://www.sfgate.com/tech/article/bay-area-tech-ceo-straight-facts-layoff-email-20242795.php

Dorsey, who co-founded and led Twitter before co-founding the financial tech juggernaut, wrote in his all-lowercase note that Block would be cutting 80 managers, 391 workers from teams that are “off strategy” and 460 workers who were said to be underperforming. The cuts arrived suddenly, but that’s as Dorsey prefers it; Business Insider reported in 2023 that the CEO decided to eliminate drawn-out performance improvement plans in favor of cutting underachieving workers “without delay.”

So basically a bad review and your are out. Damn.
 

JT-Money

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Yep I stopped looking seriously. I’m in a “stable” position. Need to ride out how this ai wave.

Good thing is I’m sitting on a moat.
I wouldn't wish this terrible job market on my worse enemy. Companies won't even negotiate on salary anymore.

So many job applicants out there approaching crack head levels of desperation. I've never seen so many job applicants out of work for 6 months or more.

Rosen: Software developers contend with 'great freeze' of tech industry layoffs​

 

DrBanneker

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In case people were wondering if job postings are just back to where they were pre-COVID, they have actually fallen below the pre-COVID levels (index of 100 in Feb 2020) and even as of last month dropped below the bottom of April/May 2020 during the start of the lockdowns.

fredgraph.png
 

JT-Money

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Indian tech workers on edge about Trump's immigration policy​


Ron Hira says India has a strong interest in preserving the H-1B program not only because workers send large remittances home, but also because Indian IT services companies rely heavily on H-1B visas to run their outsourcing business.

"It's a big cash cow for the country," Hira added which is why Indian companies are opposed to a reform that would reduce their profits.
 

Apollo Creed

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I wouldn't wish this terrible job market on my worse enemy. Companies won't even negotiate on salary anymore.

So many job applicants out there approaching crack head levels of desperation. I've never seen so many job applicants out of work for 6 months or more.

Rosen: Software developers contend with 'great freeze' of tech industry layoffs​


I was in college when the 08 thing happened, but folks saying this is worse than that
 

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Indian tech workers on edge about Trump's immigration policy​


Ron Hira says India has a strong interest in preserving the H-1B program not only because workers send large remittances home, but also because Indian IT services companies rely heavily on H-1B visas to run their outsourcing business.

"It's a big cash cow for the country," Hira added which is why Indian companies are opposed to a reform that would reduce their profits.
Sure but they are also sending jobs to India
 

DrBanneker

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I was in college when the 08 thing happened, but folks saying this is worse than that

FIRE (Finance, Insurance, Real Estate) and Consulting got fukked in 08 much worse than Tech. Tech was actually still on the upswing and companies like Amazon actually began big upping then after a momentary blip. I was in the job market when the dotcom crash hit and this seems eerily similar but back then the big companies like Microsoft/Intel weren't laying off, it was all the startups going belly up that changed things.
 

UpNext

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I was in college when the 08 thing happened, but folks saying this is worse than that
Same. I pretty much juked the recession by graduating in 2011. I want to say it's hard to believe we're at that level, but the amount of people in my circle that have been out of work for 3+ months now is crazy. Definitely never seen anything like this.
 
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