Continuous layoffs in tech. Has recession begun?

Oracle softwaree
May 18 27 Comments

I'm hearing reports about layoffs at Oracle OCI, Cisco, SAP, Tesla, Facebook, Lyft, Verizon Media and other tech companies. This is despite the huge tax breaks and tax windfalls that tech companies received last year. Does this mean that recession has already begun?

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TOP 27 Comments
  • Nvidia MLπŸ‘
    SAP and Oracle are not tech
    May 19 3
    • Oracle alvudazopa
      You must be someone great
      May 19
    • Nvidia samelove
      koolaid--;
      May 19
    • Says a guy from Nvidia πŸ˜ŽπŸ˜‚πŸ€£

      All you do is start immigration or all related threads
      May 19
  • Facebook oldeezer
    1/10 troll
    May 18 0
  • Rackspace racker77
    It appears so, or maybe companies are being conservative for the crash.
    May 18 0
  • Facebook public2
    Lol
    May 18 3
    • Oracle softwaree
      OP
      Layoffs have happened in lots of companies across the spectrum. Does it indicate a larger picture?
      May 18
    • It keeps hearing this for the past 3 years
      May 18
    • Microsoft / Eng kbsbkxb
      I guess if you suck you try to call your firing a layoff...
      May 19
  • Microsoft zbxD81
    Oracle has a failing cloud sooo probably not recession related. Same with other companies mentioned πŸ€·πŸ½β€β™‚οΈ
    May 19 2
    • Oracle / IT
      l00tb0x

      Oracle IT

      PRE
      Ericsson, National Instruments
      l00tb0xmore
      Failing? Was it working at all?!
      May 19
    • Nvidia creamcake
      I thought it was a cool idea Larry just yelled at the sky sometimes when reporters were around
      May 20
  • Facebook / Eng bitforbit
    Hey journalist
    May 19 1
    • Google Mr. Glass
      πŸ‘†πŸ˜‚β˜ΊοΈ
      May 19
  • DocuSign uwgg57
    Are they laying off in large numbers? Have not seen any report in media
    May 19 0
  • Verizon Media
    jydwl

    Verizon Media

    PRE
    Verizon Media
    jydwlmore
    May 19 2
    • Nvidia creamcake
      Maybe for Verizon... but that's about it
      May 20
    • Samsung
      chajimogo

      Samsung

      BIO
      Stressed out but surviving
      chajimogomore
      That article was a year ago. Massive ppl left core Verizon due to a generous package and many media folks left on their own due to slowing revenue
      May 30
  • New eMsB24
    Guys which teams are being let go? What happened?
    May 22 1
    • Nvidia magicdrago
      Janitorial services.. that are sick and tired of cleaning tech bro toilets who can't aim nor flush
      May 22
  • Uber / Eng
    fvDA28

    Uber Eng

    PRE
    Uber
    fvDA28more
    I don't think so. It's pretty normal to see a company lay off 5 - 10% of its workforce every year.

    What did happen this year though is that the leveraged loans market has felt uneasy lately. These lenders don't know if the companies they are lending to are actually worth what they claim they are worth or can deliver their promi$e$. This happened to SpaceX and a few others so they had to lay people off
    May 26 0
  • OpenTable Meliodas
    No. It means the companies are reallocating resources from lower profit areas to higher profit areas.

    Companies do this regardless of market cycle.
    May 19 0
  • Facebook gEKd54
    Not really. Some of the companies listed are actually growing like crazy
    May 19 0
  • Samsung
    chajimogo

    Samsung

    BIO
    Stressed out but surviving
    chajimogomore
    Except for SAP and Oracle I haven’t seen news from any others listed in this thread
    May 30 0
  • Oracle / IT
    l00tb0x

    Oracle IT

    PRE
    Ericsson, National Instruments
    l00tb0xmore
    Since 2009
    May 19 0
  • Nvidia samelove
    Nah
    May 19 0