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It’s hard to fathom how the upper management of these companies couldn’t see this coming when they were binging on hiring. Did they really believe we were in s
by subharmonicon 4y ago
It’s hard to fathom how the upper management of these companies couldn’t see this coming when they were binging on hiring.
Did they really believe we were in some new era of pandemic-fueled hyper-growth and that they would be less competitive if they didn’t grow by tens-of-thousands of employees?
- voytec 4y agoWhy would you assume they didn't see it coming? Big tech CEOs aren't dumbasses, they only act so, when it suits the agenda.
- hnfong 4y agoIt's probably some kind of prisoner's dilemma. If you managed a department of a company which is expanding too fast, and you predict there's going to be layoffs in 1-2 years, the optimal game theoretic move (for yourself) might be to hire even more aggressively, so that when you're asked to do a x% layoff, your department is buffed up ready to shed the low performers.
- psychphysic 4y agoIt's also a resource problem. What if there isn't a belt tightening in 1-2 years? Now you are resource short compared to competitors and hiring in an even more adverse environment.
- theonlybutlet 4y agoSome say it may have been defensive, prevent your competition from acquiring talent.