4 ms·

All the news is saying that its a mild recession but layoffs is a longer term solution in cost reduction. Basically Big Tech isn't optimistic about the industry

All the news is saying that its a mild recession but layoffs is a longer term solution in cost reduction. Basically Big Tech isn't optimistic about the industry for at least 2023. Is the recession going to be worse than we expect?

ActionHank 4y ago
It seems like tech companies are being more severe with their layoffs because they were over aggressive with hiring during the pandemic. Many went through a massive surge in demand which they either thought was going to be permanent or had to hire to keep the machine moving.
- astrea 4y ago
  I keep hearing this, and I would love to believe it, but does anyone have a concrete source that confirms this is the case?
  - Espressosaurus 4y ago
    https://www.macrotrends.net/stocks/charts/MSFT/microsoft/number-of-employees https://www.macrotrends.net/stocks/charts/MSFT/microsoft/num... 163K employees in 2020 to 220K employees in 2022. And they're on the low of the hiring boom.
    - nerdjon 4y ago
      Wait so these layoffs are still only a smallish part of the employees added over the next couple years? While obviously bad that seems like... as far as speaking for the entire tech industry not really that bad? Do you know if the other big tech layoffs followed a similar pattern. Or am I missing something here.
culi 4y ago
The inflation rate has decreased 7 months in a row now. The yield curve is still inverted but... less inverted? S&P 500 is not falling through the floor and even making slow and steady gains. GDP is still growing. I get we're uncharted territories with the negative interest rates we're seeing in other countries, but who exactly is bold enough to predict a recession? If anything it just seems like uncertainty in general