4 ms·

This week: Amazon 18,000 Microsoft 10,000 Alphabet/Google 12,000

by robbiet480 4y ago

rk06 4y ago
Microsoft mentioned 10,000. Where did you get 11000 from?
- Ensorceled 4y ago
  Lots of sources were predicting 11K before the actual announcement. I thought it was 11K too, had to look it up.
- rfoo 4y ago
  I also remembered the 11k number and just did a search in my browsing history. Turns out there was a rumor saying 11k, with Microsoft said it was not true shortly before they announced the 10k layoff. Since it all happened in the same week, it is pretty confusing. At least to me.
- robbiet480 4y ago
  Thanks for pointing this out, corrected.
5350-uiop-1130 4y ago
is it possible that this is all a response to falling stock price. it seem historically a quick fix for any CEO to bump the stock price is to make layoffs, and it seems to work. and i don't think any of those companies are strapped for cash
- swyx 4y ago
  most good ceos, and definitely ceo's at this level, know not to overreact to stock price which is very macro and short term driven, when they should be playing the 10-20 year game.
  - adql 4y ago
    That's what people who own company do, not the ones that get yearly bonus based on short term performance
  - asdfasdfasdf42 4y ago
    The stakeholders purposedly pin CEO's pay to the stock price to avoid them doing so: https://www.barrons.com/articles/alphabet-ceo-sundar-pichai-pay-51671712486 https://www.barrons.com/articles/alphabet-ceo-sundar-pichai-...
- trashtester 4y ago
  I don't think it's the stock price so much as this being good opportunity to fire people who're no longer wanted by the company (at the salary they're collecting), without the reputation loss that usually comes with that. Soon they will start hiring again, quite possibly finding better candidates at a lower salary.
throwawaybbq1 4y ago
People saying it is deferred PIPs or house cleaning are deluded. At Meta and Amazon I know some senior people who were laid off. People got decent severance so not too much negative comments, but I think it is a blood bath. 10% is not a small number and these are not boot camp employees who will switch out to different careers. It is a bonanza for smaller tech firms, but I think this is going to feel like the dot com bubble :( I went to grad school during those days and have to say, it really sets you back. It will also depress wages in tech for the next 2-3 years.
- mi_lk 4y ago
  > People saying it is deferred PIPs or house cleaning are deluded. At Meta and Amazon I know some senior people who were laid off. Not sure what you are implying. Senior people don't automatically perform better, it's only natural some get PIP'd.
  - cmrdporcupine 4y ago
    I think it will be interesting to see how the layoffs are structured; e.g. how much if from specific product areas vs how much is perhaps performance based [not that we'll ever know that] and how much is SWE vs SRE vs non-eng, etc.
  - cubancigar11 4y ago
    Not every junior becomes senior in the same company. They are already the top of the cream.

This week: Amazon 18,000 Microsoft 10,000 Alphabet/Google 12,000

rk06 4y ago

Microsoft mentioned 10,000. Where did you get 11000 from?

Ensorceled 4y ago
Lots of sources were predicting 11K before the actual announcement. I thought it was 11K too, had to look it up.
rfoo 4y ago
I also remembered the 11k number and just did a search in my browsing history. Turns out there was a rumor saying 11k, with Microsoft said it was not true shortly before they announced the 10k layoff. Since it all happened in the same week, it is pretty confusing. At least to me.
robbiet480 4y ago
Thanks for pointing this out, corrected.

5350-uiop-1130 4y ago

is it possible that this is all a response to falling stock price. it seem historically a quick fix for any CEO to bump the stock price is to make layoffs, and it seems to work. and i don't think any of those companies are strapped for cash

swyx 4y ago
most good ceos, and definitely ceo's at this level, know not to overreact to stock price which is very macro and short term driven, when they should be playing the 10-20 year game.
- adql 4y ago
  That's what people who own company do, not the ones that get yearly bonus based on short term performance
- asdfasdfasdf42 4y ago
  The stakeholders purposedly pin CEO's pay to the stock price to avoid them doing so: https://www.barrons.com/articles/alphabet-ceo-sundar-pichai-pay-51671712486 https://www.barrons.com/articles/alphabet-ceo-sundar-pichai-...
trashtester 4y ago
I don't think it's the stock price so much as this being good opportunity to fire people who're no longer wanted by the company (at the salary they're collecting), without the reputation loss that usually comes with that. Soon they will start hiring again, quite possibly finding better candidates at a lower salary.

throwawaybbq1 4y ago

People saying it is deferred PIPs or house cleaning are deluded. At Meta and Amazon I know some senior people who were laid off. People got decent severance so not too much negative comments, but I think it is a blood bath. 10% is not a small number and these are not boot camp employees who will switch out to different careers. It is a bonanza for smaller tech firms, but I think this is going to feel like the dot com bubble :( I went to grad school during those days and have to say, it really sets you back. It will also depress wages in tech for the next 2-3 years.

mi_lk 4y ago
> People saying it is deferred PIPs or house cleaning are deluded. At Meta and Amazon I know some senior people who were laid off. Not sure what you are implying. Senior people don't automatically perform better, it's only natural some get PIP'd.
- cmrdporcupine 4y ago
  I think it will be interesting to see how the layoffs are structured; e.g. how much if from specific product areas vs how much is perhaps performance based [not that we'll ever know that] and how much is SWE vs SRE vs non-eng, etc.
- cubancigar11 4y ago
  Not every junior becomes senior in the same company. They are already the top of the cream.