The days of competing offer bidding wars and resetting the TC bar are over. It was a good 1.5 year run. Meta - cutting costs, hiring freeze Amazon - CFO said the company is overstaffed in Q1 earnings call Netflix - cutting costs, slowing down hiring Uber - cutting costs, hiring freeze Twitter - Elon will start layoffs when buyout closes Robinhood - 9% layoffs Instacart - 40% valuation cut Uber, Meta, and Netflix all paid near top of market in big tech. With the recent changes those are big players for TC growth off of the board for the near future. Google will lowball candidates like never before until Meta comes back.
Any insights on NVIDIA ?
Hiring.
Thanks @_GoodMan_
Amazon is only over staffed for warehouses. I’m pretty sure they’re still hiring.
True
💯 have 3 open positions with OS scheduledthis month
We’re hiring 😉
How many 🥜 does IBM pay these days?
Honestly it’s improving. Salaries are competitive with FAANG but the problem has been no RSUs and company growth hasn’t triggered cash bonus. Well RSUs are coming starting this year and company is back to growth so I expect a small annual bonus after this year.
All those high TCs from 2021 were heavily based on equity grants. Pretty sure most folks are -50%+ on their rsus if they joined 'growth' (coin, sq, Uber, etc)... These companies aren't doing well, and a lot of folks TC have taken a hit. Will this lead to more resignations and then an even friendlier environment to employers? Time will tell, but you're most likely right
Ya exactly, at least for SWE the options in big tech are much smaller now, and as you mentioned a lot of the smaller tech companies have stocks that cratered. So quitting and job hopping is a much more difficult proposition these days.
Exactly
How is the hiring frequency at Google now? They hired a lot last year, especially in India. Also I read a thread on Blind that Google is adding 6% forced PIP (stack rank) just like Amazon.
Pretty sure that pip thing is fake news. Google is investing $10b into building data centers and new offices just in 2022, they hired me me a few weeks ago, anecdotally I know a bunch of others who joined recently too so make of that what you will
no changes at Google so far. hiring process is still notoriously long, and they still lowball and downlevel candidates so it's a time investment to try and get in for sure. Forced PIP might be an exaggeration, but yes bottom ~8% of performing employees will go on coaching plans each year starting in 2023. Coaching plan details (how difficult to get out of it) haven't come out yet. I think the idea is to reduce rest and vest culture over the long term.
C’mon now Amazon is over staffed with warehouse workers…
should have gone to med school, hate this tech life
Therapist even better during these times
no remote for them though
We are hiring.
Hiring for frontend and remote?
Not all positions are remote. My group is not hiring remote. But other groups are.
Affirm's stock is down 90% but somehow we're still hiring
Woah what a crazy ride. Are you staying?
Holy shit, you weren't kidding. It's down 85% in last 6 mos and another 11% after-hours.
Instacart is 🗑️