4 ms·
except the tech industry has been immune to layoffs because it would represent such bad PR to be the one company downsizing in the midst of a bull market. Fortu
by stevehawk 4y ago
except the tech industry has been immune to layoffs because it would represent such bad PR to be the one company downsizing in the midst of a bull market. Fortunately for the tech industry, the market is now bearish and they're finally allowed to trim the fat that they've been accruing for over a decade, which is why when someone finally blinked first then the rest followed (and continue to follow).
- patrick451 4y agoIf there was so much fat to trim, why have they been relentlessly growing headcount for the last 2 years?
- great_psy 4y agoThe view of laying off in a bull market being bad PR implies those companies wanted to lay people off in the first place. During the bull market they were fighting with each other to hire more, which is the opposite signal. Sure the bear market allows them to layoff, but I don’t think they wanted to lay anyone off up until 6 months ago.