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But the problem is where do they go? Yes, Twitter laid off 3750 people, but Meta just laid off 11000, so the job market -- at least for that pool -- is saturate
by samspenc 4y ago
But the problem is where do they go? Yes, Twitter laid off 3750 people, but Meta just laid off 11000, so the job market -- at least for that pool -- is saturated right now, and I'm not sure if anyone wants to voluntarily walk off their job in today's economy.
- foobiekr 4y agoDid meta lay off productive ICs or just recruiters and similar?
- KptMarchewa 4y agoCorporate america is literally millions of positive, and unemployment is very low.
- mgkimsal 4y agoNumber I saw this morning showed meta had added 15k workers since Jan 2022. Laying off 11k still has a higher headcount than a year ago. The question of who those 11k were May be more interesting, but this doesn’t seem like some end of the world bloodbath.
- grepfru_it 4y agoThis is nothing. The NYC developer market was completely saturated in 2008 when Lehman brothers went under and AIG made huge cuts to their IT organization. I recall the number being 60-80k developers looking for jobs all at once. If you have employable skills you will find work
- tayo42 4y agoMight find work, but is it at the same comp level? I'm unemployed, I'm worried I'll have to take less then pay then I was making before (270-320k based on the stock price)
- scarface_74 4y agoI’m also in BigTech and have seen my compensation drop (unless there is a major uptick before my next vest in a month). But, seriously, I’ve got the worlds smallest fiddle for someone who is worried that they may not make 270K+ going forward. Yes my stock has dropped by 50% from its 52 week high. It stings. But it doesn’t affect my life at all. I made sure that I could live off of my base pay - and still max out my 401K.
- tayo42 4y agoRising interest, rent house prices all increasing. There's no stability. With pay decreasing it's further out of reach
- grepfru_it 4y agoWelcome to a recession. You either wait it out or take less pay if you are desperate. Better to have some job than no job, yeh? Surely you saved during those years of 270k tc Also now your skills and experience are more relevant to your salary.
- datavirtue 4y agoBack to measly $200k for you!!
- deleted 4y ago[deleted]
- jacquesc 4y agoSeems like most (if not all) of the top tech companies are also on hiring freezes.
- mbrodersen 4y agoIt’s a drop in the ocean. There are millions of programming jobs out there.