Did the tech industry drop the ball here, why did so many tech workers lose their jobs? “we do have a shot" for inflation to return to target without high levels of job losses.” #recession #layoffs #RIF
Because tech workers were unnecessarily overpaid. A correction is underway now.
Facts. May don’t need a 400k salary to read excel files.
Who should be punished for overpaid SWEs ? The SWEs or the companies that agreed to pay the ridiculous TC ? No CEOs directly took a blow of the layoffs.
The Fed is wrong, especially if it continues to raise interest rates to combat inflation caused by the Biden administration's overspending. There is a $2.5T deficit this year alone.
Derp derp derp
Lol if anyone should know money is all fake you should, seeing where you work
People lost their jobs cause they whined about rto
I keep trying to get fired for not RTOing. Haven't yet. Hopefully soon.
You wont be fired. It’s a “voluntary resignation” 🤣
Copycat behavior
Engineers are going to be treated like factory workers until they learn to hold management to be more accountable.
They dont want to mess up the gravy train for temporary inconvenience the better gravy train a union would provide.
That means I can join a union just like my father and grandfather and then beat the piss out of scabs or managers that cross the picket line. I’m into it!
People still don’t understand this. Recession is an economic indicator. It’s based on growth or contraction of the economy. That metric is not contracting right now. Tech employment is changing because this industry overstuffed in 2020-2021 and is now rightsizing.
You work for a bank, and you still drink the Koolaid? Layoffs are contagious, when one company does it other companies in the same industry will be pressured by board/investors to do the same. It's BS
I think you are both right. And I’ll a little more color to this. Tech stocks were taking a beating. Stock prices go up after layoff news in a down market and when there is a fear of a recession. Also. This was a good time to get rid of bad hires and lighten & lowering the org structure without bringing too much attention to it. Crappy as a whole, but I see the main reason being the relentless hiring during the past few years. What goes up must come down.
It was a spring a cleanup. Every company had some dirt that they wanted to get rid of. This was golden opportunity to do it without any legal ramifications
Layoffs were because “lol, why not?” Not because of the economy
They all did whatever they had to, to please the investors, get the stock price up and fill the execs pockets. Used it as an opportunity to get rid of people they didn't want. They didn't drop the ball. Atleast not for themselves.
No recession because of layoffs
Lmao the job market america wide was very strong for the last year. Tech is an outlier and represents a v small portion of the workforce