How will the next recession affect FAANG?
Will there be layoffs? Hiring freeze? Mandatory vacations? Across the board pay freeze? For those who were around at the time, how did the 2008 financial crisis affect employees at FAANG? The next recession will probably not be as bad as the one post financial crisis, but curious to see what you all think will happen and how it might affect those working in the tech industry.
If u think its going to be just about financial crisis you are wrong, also FANG rose to these levels after previous giant corporations went out of production cycle. This time it is going to be combined with many things and the events around the world! No form of wealth is going to hold ground during these times
Everybody will be fired. There, you’ve been warned.
It will be blood bath every where. Goodbye to folks who have insane TC with little experience.
* At Amazon, expect forced turnover rate of 6% to increase to 18%, with mandatory anal rupturing (figuratively speaking) for those on PIP, to avoid paying unemployment to people who do not quit on their own. Expect stock price to decrease as consumer spending decreases * At Facebook, expect up or out policy of 33 months for E5 to decrease to 24 months. Expect more defense contract work and increased usage of the product as people become unemployed and depressed, fueling stock growth * At Netflix, expect similar effects to FB * At Google, expect flat stock prices or modest growth as enterprise contracts wane but other product demand remains strong Expect new hire compensation reductions across the board.
I'm interested in seeing netflix as a defense contractor
Binge watching training videos?
Next recession will take away your job
Folks with no CS degree coming out of bootcamps will be first to go, along with the manual testers who can’t touch type.
Manual testers will become your manager
I think these companies will focus more on automation to reduce costs when the next recession hits, which will let them reduce headcount. It’ll be harder to get hired. But there will be winners in the next recession who will grow and hire.
when? 2020?
The 2018 recession will involve layoffs when it arrives
Do you think people have the ability to predict the future? Do you think said person spends time on Blind everyday?