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I feel like a good explanation for all this is that tech giants saw this as an opportunity to collaborate to reduce wage inflation. I feel like that explanation
by davesque 4y ago
I feel like a good explanation for all this is that tech giants saw this as an opportunity to collaborate to reduce wage inflation. I feel like that explanation squares better with the fact that, during many of these layoffs, employee performance has often appeared to not factor in as strongly. In fact, the opposite seems to be true in many cases.
- dehrmann 4y agoIf the sector believes that it can do just as well with 10% fewer employees, I'm not sure if that's the same as collusion to suppress wages. Surly some greedy player would be saying "no, I can make more incremental revenue by hiring these people." The story that tech overhired during the pandemic makes more sense.
- davesque 4y agoThen why wouldn't they simply lay off the new hires instead of company veterans?
- dehrmann 4y agoA new hire is expected to be an average employee in a year. A veteran might have a track record of being a below-average employee for several years.
- davesque 4y agoThat could often be the case. Although the Google veterans mentioned in the article seem to be examples of top performers that weren't just resting on their laurels. But I suppose there could have been other reasons they were let go that were not public, like company politics, etc.