3 ms·

Oracle is/was laying off thousands as of August. Within the past 12 months: Peloton laid off over 4000. Snap 1280 (which is 20% of the company,) Shopify 1000

Oracle is/was laying off thousands as of August. Within the past 12 months: Peloton laid off over 4000. Snap 1280 (which is 20% of the company,) Shopify 1000 (10%.) Groupon laid off 15%. Salesforce, 1000. Microsoft 1800. Carvana (while not "big established" it's still a lot of people) laid off 2500. Tencent laying off 5500. Alibaba: 9500, ByteDance: 1000, Zillow 2300. This definitely isn't really the first major layoff announcement. Outside of big tech: Credit Suisse laying off 5000, Ford 8000, Telefonica 2700. Societe General 3700 A bunch more, but these are the one measured in thousands or otherwise a significant percentage of a company's workforce. (By the way, not arguing with you, my point is that this isn't surprising, the writing has been on the wall for the past year, so an Intel layoff isn't a bellwether for things getting bad -- it's a lagging indicator of things already being bad.

scarface74 4y ago
None of the tech companies you mentioned besides Microsoft and Alibaba are BigTech. Most of them were bad business that VCs were able to pawn off during the bubble market to the public markets. They were more or less a Ponzi scheme.
aprdm 4y ago
Where you saw microsoft / alibaba?
- brewdad 4y ago
  Here's 200 plus the article references the earlier announcement of about 1800. https://www.theverge.com/2022/8/10/23299499/microsoft-layoffs-modern-life-win-back-consumers-team https://www.theverge.com/2022/8/10/23299499/microsoft-layoff...
hn_throwaway_99 4y ago
Yeah, understood it's a lagging indicator, but most of those US companies you mention (Peloton, Snap, Shopify, Carvana) are in the "unprofitable VC-funded camp". Salesforce and Microsoft obviously aren't, but their numbers are also much, much smaller and the amounts are a really teeny percentage of their overall workforce. Zillow is a bit of a special case because of their complete f'up with flipping houses. Oracle feels like the only one really comparable to me, but perhaps I'm just showing my personal bias that I'd really wish Oracle would lay off everyone and go under, but I digress... I guess my main point was that, even with recent layoffs, feels like most of those folks wouldn't have had much difficulty getting snapped up by other companies, especially in engineering (not saying it wasn't disruptive to those involved). But once you start laying off 20,000 here and 10,000 there, you get to the musical chairs point where some folks are going to be left without a chair for some time.
daniel-cussen 4y ago
rvz 4y ago
> My point is that this isn't surprising, the writing has been on the wall for the past year, so an Intel layoff isn't a bellwether for things getting bad -- it's a lagging indicator of things already being bad. Yeah. It certainly was not a surprise and the market euphoria was going to all end in tears. Saw that a mile away several months before it happened. [0] [0] https://news.ycombinator.com/item?id=29508238 https://news.ycombinator.com/item?id=29508238

scarface74 4y ago

None of the tech companies you mentioned besides Microsoft and Alibaba are BigTech. Most of them were bad business that VCs were able to pawn off during the bubble market to the public markets. They were more or less a Ponzi scheme.

aprdm 4y ago

Where you saw microsoft / alibaba?

brewdad 4y ago
Here's 200 plus the article references the earlier announcement of about 1800. https://www.theverge.com/2022/8/10/23299499/microsoft-layoffs-modern-life-win-back-consumers-team https://www.theverge.com/2022/8/10/23299499/microsoft-layoff...

hn_throwaway_99 4y ago

Yeah, understood it's a lagging indicator, but most of those US companies you mention (Peloton, Snap, Shopify, Carvana) are in the "unprofitable VC-funded camp". Salesforce and Microsoft obviously aren't, but their numbers are also much, much smaller and the amounts are a really teeny percentage of their overall workforce. Zillow is a bit of a special case because of their complete f'up with flipping houses. Oracle feels like the only one really comparable to me, but perhaps I'm just showing my personal bias that I'd really wish Oracle would lay off everyone and go under, but I digress... I guess my main point was that, even with recent layoffs, feels like most of those folks wouldn't have had much difficulty getting snapped up by other companies, especially in engineering (not saying it wasn't disruptive to those involved). But once you start laying off 20,000 here and 10,000 there, you get to the musical chairs point where some folks are going to be left without a chair for some time.

daniel-cussen 4y ago

rvz 4y ago

> My point is that this isn't surprising, the writing has been on the wall for the past year, so an Intel layoff isn't a bellwether for things getting bad -- it's a lagging indicator of things already being bad. Yeah. It certainly was not a surprise and the market euphoria was going to all end in tears. Saw that a mile away several months before it happened. [0] [0] https://news.ycombinator.com/item?id=29508238 https://news.ycombinator.com/item?id=29508238