Why are companies doing layoffs still advertising jobs?
Seeing a ton of open roles at Snap, for example, which is about to do a round of layoffs. Same at Shopify, which just laid off 10% of the company. What gives? Why would companies still advertise jobs if they’re having to lay off a large % of people? Do companies that do layoffs normally keep hiring people regardless?? Blind tax: $240k TC
Sometimes they forget to take down the job postings but anyway you’ll either get auto rejected or ghosted
People also leave after layoffs because it means their job isn't safe as well. So maybe the advert is for the potential backfills.
I think some posts will auto renew, also.
Lots of companies love to do “layoffs” which is a mask for get rid of low performers. As soon as it becomes ok to do, everyone does it. So, snap may lay off the bottom chunk and still want to hire.
And pay new people less?
This is a reasonable theory, and I don’t have enough information to say if it’s true or not. But @goldman, a hire today is more expensive than a hire last year. Stock is down a lot.
No idea but it’s frustrating to see from the inside too
We have hiring freeze but I see new job advertisements every day.
Typically, some departments budgets were secured the year before (Q4). Some teams may still have secured roles for hiring. Other departments that are downsizing are using the rising interest rates to reallocate away from leveraged investments and pull capital from areas that are seen as “low-value” or generally more of a liability on their books to increase investor confidence before the end of the year.
Another reason is: Hire for upcoming projects because if the managers feel it's difficult to make people unlearn previous and ask them to move to new tech/process/domain etc. And to balance the outflow vs inflow, they fire spare headcount or stall some product development in favour of one with more monetary/business prospects. After all, a $ today is just worth half a dollar next year in current scenario of rising inflation, rising salaries but decreasing margins due to competition
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Probably laid off the people who were supposed to update these ¯\_(ツ)_/¯