Looking at the recent layoffs at Meta, Google and a bunch of other companies, I wonder if they know something we don’t. I feel like a big rug pull is approaching and they are bracing for it. Is recession good for housing market? I’m starting to wonder how this would impact housing in the bay.
What? Meta had layoffs again?
Along with Amazon, Google and some others
When?
Companies know nothing. Directors are lucky&ambitious bunch of people in their 30s that has no idea. There is trend and everyone follows it.
You obviously don’t know how layoffs work. Directive comes from CFO -> CEO-> VP. Directors at big companies have zero say when layoffs happen. They will be “consulted” whom to layoff, but the actual number is determined by CFO.
With that IQ, If Amazon hasn’t pipped you yet, they will soon.
Salesforce also started hiring pause on the same day!
Is there a hiring pause at Salesforce?
Yes, it was leaked to the world and at all hands they said "slowing" down to allow ramp up of people we hired in the past quarters.
Consumer spending so far is great.. reasons jobs!!! Wait and watch if “AI” efficiency is spreading across other industries and if so then expect a job recession. None of the financial matrix were good and yet US economy defied expectations. My take on the subject is US was staring at recession right after bank crisis of 2023, but the fed and AI hype saved the day.
The bank bailout was crazy, it was on the level of the 2008 bailout, but somehow media didn't make a big fuzz about it. So this put some fresh injection of money to the system and prolonged the process. 2024 might be even more eventful.
AI hype can only delayed the recession. If AI is actually a hype, then the recession will become more serious.
Not sure what business school OP did not go to....but virtually nobody is able to predict when a recession will hit. Even the Fed have a hard time making accurate predictions. Why do you think the CEO of Meta or Google may have an idea? Every single Wall St analyst has been wrong about the timing of a potential recession too.
Dude. You do know that analysts are propped to sway retail.
Hilarious take by Citi. You've been consistently wrong, but apparently it's all deliberate ploy to fool the entire investment community and yourself. 😅
Greed and to restablish control over Labor. Big Tech Corps are firing and rehiring to: 1) bring TC back down to earth 2) drive fear to ICs. Remind them they need their jobs
This and the tax breaks that were taken away.
Yep it's why we should have a union.
The same idiots who over hired are making the layoff decisions. These executives are no better at forecasting the future than anyone else really
Tech Industry
Yesterday
3315
What happens when most of your team is Indian?
Tech Industry
Yesterday
1899
Women, help me understand why this is inspirational
AMA
Yesterday
883
PM Manager, early 40s, married and ENM (Ethical Non Monogamous) AMA
Software Engineering Career
Yesterday
1022
Take Microsoft offer or stay at Apple
India
4h
350
'Hindutva': The Radical Hindu Ideology That Seeks to 'Push Christianity Out of India’
They’re reacting to their Q4 results and forecasts. They are the first and only ones to see those and to your point, they probably don’t look very promising.
When are their earnings?
lol, amzn and google gonna beat their earnings, they are laying off for worst case scenario if recession happens then obviously consumer pulls back and then it will hit earnings