All big techs are laying off their employees in large numbers at the same time. Do you really think its a good strategy!? Tech companies spend so much money to hire a single engineer - E.g. Min 6 interviews rounds meaning 6 hours of senior engineers time per candidate. If we assume they get 1 potential candidate out of 5 selected ones. That means 30 senior engineers hours to select a single engineer. Add Recruiters time to talk and schedule preliminary discussions rounds to select those 5 candidates out of at least 15 people. Add more recruiters time to schedule interviews. Now the candidate is selected, money is spend to bring them on board. Now comes the REAL EXPENSIVE THING to bring that new hire up to the speed to make them productive. So much money is spent on a single engineer. And now we can see companies are letting them go so easily. Its double whammy. Companies already spent so much and now letting employees go and then rehire may be next year or in next 2-3 years. So I have big question to these so called MBA and finance degree holders who take such decisions for cutting cost - “why can’t you ask the same employees to work on less pay”. May be 50% of their original salary. Those who don’t agree definitely get rid of them by layoffs. But at least give employees this option, i think ppl wud choose to work on whatever salary you give them in difficult time rather than getting laid-off. What would you choose if you are asked to work on less salary or get laid-off? in poll below, 50% is just example, I mean some form of pay cut with less work hours. #tech #layoffs #meta #amazon #google #carvana #Twitter #lyft #opendoor #cisco
id work for 50% less pay for 50% less time
People willing to work for less pay is a large part of the issue. There are still tons of companies hiring, and you shouldn't sacrifice your worth because of it being "the easy route".
This. The tech industry being as good as it is right now is entirely built on workers acting like it is. I really hope people don’t lose their spines now that tough times are here because it’s not the economy that makes it all come crumbling down. It’s the day people stop holding the line and start accepting less (pay, WLB, whatever) because they are afraid to walk away from the table.
Tell that to all the visa holders lmao
I would choose to get laid off and paid to LC and get a different job.
Interviewers are free… they just give lollipops of promotions 😃
50% is too stark a paycut. Credit karma actually did a 15% pay cut in 2020 and many folks stuck around
Yeah. 50% is just example, I meant some form of pay cut with less work hours.
Number matters. Many people won't leave for 15% paycut in a poor job market because they might not be able to get something better than that. But 50%? That's steep. If you're earning less than 300k, there's a strong chance that a job outside tech can match that. A lot of companies outside tech are hiring.
Why don’t management take pay cut? Engineers can work with the right reporting tool
Agreeing to work on less pay than what you are currently paid is an incentive to get low pay for foreseeable future.
But don’t you think its good to have rather than getting laid-off and have no income till u get new job. You can work on less pay and then if situation doesn’t improve you can always get another job.
No, because of that "foreseeable future" part. For you, its a temporary situation. For a company, it's an incentive to always pay low wages because your temporary situation proved that there will always be people willing to undersell themselves. It's the old "give an inch take a mile" adage.
People will feel scorned and leak IP or sabotage in some form or another. Or they will purposefully under deliver while finding a new job.
Horrible poll options
I disagree with your very first assertion.