Layoffs due to COVID19

Apple / Eng
SDNN82

Go to company page Apple Eng

SDNN82
Mar 14, 2020 448 Comments

Should people start to prepare for the worst as the corona virus rips through the US and other nations causing joblessness and eventually a recession resulting in tech workers being laid off?

What is the chance of FAANGs and unicorn startups laying off people at this time? Thoughts?

TC 195k 2.5 YOE @ all at Apple

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TOP 448 Comments
  • Ironclad
    ⌐(ಠ۾ಠ)¬

    Go to company page Ironclad

    BIO
    leave me the f alone
    ⌐(ಠ۾ಠ)¬
    You are at Apple. You are fine.
    Mar 14, 2020 21
    • Agreed ObrT21, the cash reserves probably don't matter. What matters are earnings. If you think Apple is going to use cash reserves, you're assuming they're also willing to go cashflow negative on a quarter or year......maybe they are but that's not typical
      Mar 16, 2020
    • Listen I don’t think too many companies will go shopping among the newly unemployed. Keep in mind that the number of manageouts increase in recessions ie companies get rid of poor performers more aggressively, and also encourage attrition through other means such as reduced bonus and stock for all but top folks. Even if good folks are laid off there is likely to be stigma/uncertainty associated with them.
      Mar 16, 2020
  • New
    ab0

    New

    ab0
    It's shutdown caused by a coronavirus. It's really different compared to y2k and 2008 crash. Once things stabilize with a virus, the economy will bounce back.
    Mar 14, 2020 13
  • Google / Eng
    aqqq213dde

    Go to company page Google Eng

    aqqq213dde
    Even if you look at the worst case scenario - China recovered after 3 months. Its just a temporary hit on the economy and things will go back to normal. No chance this virus stuff will continue after 6 mothns
    Mar 16, 2020 17
    • Cisco
      Quasimodo

      Go to company page Cisco

      Quasimodo
      The temporary hit is not the real concern compared to the consequences of what can happen in these next few months. If we have a ton of bankruptcies and unemployment, including whole industries, there could easily be a domino effect which seriously hurts everyone for a while. I think that's the real worst case scenario. Of course it will recover at some point but a lot of things can happen by then.
      Mar 17, 2020
    • The bar code is for contact tracing. Each person has a unique bar code, and major public places like a grocery store will scan the people’s bar code as they enter. When someone has a confirmed case, it is now possible to find who he has encountered before based on the log.
      Apr 9, 2020
  • Bloomberg / Other
    Mike drop

    Go to company page Bloomberg Other

    Mike drop
    China and korea have been recovering and reopening offices. Itll pass soon
    Mar 16, 2020 12
    • Genesys / Creative
      washtub

      Go to company page Genesys Creative

      PRE
      Deloitte
      washtub
      Then come back next year. 👀
      Mar 17, 2020
    • New
      LouBega

      New

      LouBega
      False. These are countries with government control, leaders with control of themselves and are using science first, economy second to deal with the mess. Look at the surge. We're idiots.
      Mar 26, 2020
  • yes, cash out everything and look for 3-5 roommates. also try to eat only once per day to save money
    Mar 14, 2020 3