This is my first time working in tech companies. I used to work at non tech like banks before. Are tech companies just bad at managing expenses and doing forecasts? I feel like tech is going up in flames before my eyes. At banks, engineers were cost center and headcount allocation was way more conservative. Layoffs used to happen from time to time in small batches but nothing to what I am seeing right now. What's interesting is that tech folks are profit center but still way more layoffs. TC 170K
Yes, I do think some tech companies don’t know how to handle money. A stable company is a company that know when to slowdown. And FAANG’s are learning this the hard way.
Bunch of stuff in tech is hype driven rather than P&L. I find P&L can lead to short sighted view by staying conservative but not having a decent ROI after a while cannot be sustainable..
Op What’s the point of the post ? Is this a brain dump ?
I am trying to make sense of the tech layoffs
So your brain dump then. You owe me 50 for wasting my time.
Lots of tech companies on west coast operate on negative earnings because they have to match the salaries and benefits of other big tech monopolies. They still pay less than faang but they have to make it close enough for folks to jump ship from faang.
How about Atlassian? Heard great things about the culture there. Does Atlassian also work on negative earnings? Are layoffs looming?
We are growing fast but increasing spend fast as well. We are operating at near zero earnings to maximize growth. My gut tells me no on layoffs but then again i could be wrong.
big tech overhired. don't need that many engineers
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Banks are far more conservative than tech companies, generally speaking. Tech isn't going up in flames.
Freezes, layoffs, accelerated pips
Those are all normal things companies do during downturns