Why are layoffs only in big tech product companies? I see no layoffs posts in services sector . Did they grow very fast? Service sector employees moved to big tech and they don’t need to layoff anymore? Just in no time layoffs will start in service sector too?
The service sector has had a severe shortage of employees. The complete opposite problem of big tech
Exactly that is the question I have . Is it like employees shifted to big tech from services?
The pandemic gave big tech a boost and hurt every other industry. Now consumer demand is going back to pre-pandemic activity and big tech can not sustain the same level of growth.
All the service workers became PMs at big tech during the pandemic
Still early. The horror movie has not start
That’s the problem when you have so many big name investors. You had good growth and they want you to keep growing at same or higher pace, so they’ll give you money (or make you borrow) to achieve it, and then you realized the market is saturated, or not that big, or simply your ideas where garbage.. No growth, no increased revenue, earnings drop / (or losses increase) because you scaled the company but not the business and boom layoff happens, so the overly ambitious folks now are the ones who pressure the blood bath as borrowing is too expensive and no one can pour money. Am sure that many of the non-FAANG companies were pressured by investors to have ultra ambitious plans that management might not agree at all.. and when that happen then investors pressure them to offload costs.
Cognizant lost a third of its employees in 3 months. We cannot Layoff. We don't have the required talent anymore
VCs threw a LOt of money at startups during the pandemic and expected results. The fastest way to show results is by doubling up on the hiring. Many CEOs of these companies also thought the world had changed and the pandemic world was the new normal. Now they are realizing how wrong they were. Just about everything that changed as a result of the pandemic will need to be reverted
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BREAKING: Internal sources confirm another round of layoffs just hit emails at Tesla. For real.
do you know how stonks work?
Not sure why stonks came in this question?