Tech employee layoffs have slowly started globally

Source : https://www.trueup.io/layoffs

Looks like companies have slowly started bracing up for the potential recession across many economies going forward. Coming 12 months can be bit rough for some of the employees.

Best case scenario would be stagnation in income growth for most of the tech employees.

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Yes :bear: time coming.

Frankly, seems like this is generalizing tech company with tech employees, which is not really the case.

For eg. Edtech Companies like Byju’s, white hat Jr. etc. are laying off lot of people. But most people laid off are either educators (who used to provide classes) or sales people. Very few are techies. Moneycontrol article does offer good insight.

Right now, hiring tech talent is big concern for most companies.
Most likely, these numbers are layoff in Tech companies, not Tech employees laid off.

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I am saying from my experience of getting kicked out of project due to resource cost. When interest rate is high including inflation people spend less so bussiness has to cut down people too. Mostly they target costly resources and see if they are replaceable with cheap resource. This is kinda how literally any competing bussiness works. Those guys who took retention offer after submitting resignation, HR that had to onboard a costly resource due to market and project demand are pretty much marked to be layedoff. Company only sees cost at end of day.

Unbelievable , I always thought layoffs are not even a thing at FAANG

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Looks like hiring spree is slowing down and lay-offs are starting, The coming time can be harsh for many people.

In tough times like these, what type of employees companies prefer to lay off? Freshers or Experienced?

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Mostly experienced as cutting costs is the main reason

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As business slows down due to recession, layoffs and fresh hiring slowdown is imminent.

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Getting fired at random? That’s one heck of a way to fire people if true.

On a lighter vein, algo goes rouge and we could probably see it firing Zuckerberg :laughing:

Blood on the street? really? Google is going nuts

That’s unbelievable. These same companies want us to believe in their services and products. When they can’t keep their employees happy, I can’t even trust them.

We should not believe in a product or a service, we should check if it serves our purpose, if we need it or we if want it, if it doesn’t, we don’t buy it, we don’t use it. It could be from a local store around the corner, or from a company in Silicon Valley.

And as far as recruitment or ousting goes, establishments want to make profits, so if they think they don’t need a larger workforce, they let some people go. Such establishment could be again a local store or a company with 2.5 trillion dollar market cap.

From employee shortage and record pay hikes to lay offs all in few months.

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Wonder how companies of Wipro n infy calibre let this happen. Nevertheless, interesting point of debate for WFH jobs

I take it many of you never worked in tech company , mostly are non IT and will believe anything and everything written on Internet :thinking:

That means these IT guys don’t have much work to do and are getting paid for free. Otherwise how they manage to get time to work for two cos simultaneously

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