Will there be more layoffs?
Inviting all insiders and market makers to share their opinions. Layoffs are still ongoing, but it mostly seems to be limited to the US. The trend started a year ago and included giants like Microsoft and Google. Interestingly, Meta and Salesforce seem to be hiring crazily (even in the US) now. I don't see giants like Microsoft, Google or Apple following a similar hiring spree. The obvious questions: 1. Were layoffs only a means to reduce salary? (I don't see much difference in previous and new offers. Google and Uber seem to have reduced.) 2. Were layoffs just to satisfy wall streets and hiring and firing would happen on the whims of the market? 3. Jobs were offshored to cheap locations e.g. Poland, India. This seems to be happening at a higher rate. Will the secondary locations dominate more compared to HQ. It might be possible to hire at even lower wages in other geographies, is it being explored? 4. Why is Meta and Salesforce hiring so much (and Meta stocks have recovered/rocketed), while Microsoft and Google are only backfilling? #tech #layoff #market
Don't have anymore market knowledge than the next person 1. Interest rates rising, pressure from Wall Street, post covid projections being off, fomo hiring were all factors and yes to slow down wage growth 2. That's always been the case as far as I remember 3. Can't really say. As someone who worked at companies that did this hybrid remote thing I noticed that eventually managers would get tired of running a remote team 4. Think some of them overdid the layoff and now can hire for cheaper. Idk about Google and I don't think msft is backfilling everywhere either but msft is investing heavily in ai Capex so no need to add more employees