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People are shocked since its been decade(s) since the last layoffs in tech. But when you look at the headcount its just returning to 2021 levels. Not great for
by Beaver117 4y ago
People are shocked since its been decade(s) since the last layoffs in tech. But when you look at the headcount its just returning to 2021 levels. Not great for the job market but not terrible.
- ghaff 4y agoAnd 2008 didn't even affect the tech sector all that dramatically. To your point, there's another article in the NYT today: Layoffs at Tech Giants Reverse Small Part of Pandemic Hiring Spree Some of the biggest tech companies have announced tens of thousands of job cuts. But even after the layoffs, their work forces are still behemoths. What happens remains to be seen but so far it's mostly retrenching of big increases.
- adam_arthur 4y agoYeah, and actually the entire "recession vibe" over the past few months has been largely anticipatory and sentiment driven. Wages have been rising quickly on average, retail spending is still quite high relative to pre-covid trends, employment has been strong (outside of VC/big tech). You see headlines about 10k here or 20k there, but in the end there's over 100m jobs in the US economy. The layoffs aren't meaningfully large in and of themselves It remains to be seen how much worse it gets over the next year or two (if at all).