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We have an expected attrition rate at my company across all departments. We normally lose about 10 people per quarter. This quarter the number of people leaving

We have an expected attrition rate at my company across all departments. We normally lose about 10 people per quarter. This quarter the number of people leaving - zero.

beebmam 4y ago
I've seeing a higher than normal attrition rate. Unemployment rate among tech workers stays absurdly low, went down to 1.5% last month: https://www.usatoday.com/story/money/economy/2023/02/07/tech-layoffs-2023-google-amazon/11135692002/ https://www.usatoday.com/story/money/economy/2023/02/07/tech...
- analyst74 4y ago
  How do they calculate this rate? I simply left the country after layoff, and most likely not counted in the numbers.
  - ghaff 4y ago
    The US BLS has 6 different unemployment measures. The one that's usually quoted is U-3 which means unemployed but seeking work. But if you left the country, I assume you're not counted in any unemployment measurement. (Though I also assume that's a sufficiently unusual edge case that it doesn't really move the needle on any of the statistics.)
    - onlyrealcuzzo 4y ago
      In the US, you're not "unemployed" if you don't have a job and you don't want one. I believe if you're a US citizen vacationing long-term in France because your work prospects aren't great at the moment - you'll still show up as not in the labor force in the labor force participation rate: https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART But you won't show up in u-1 through u-6. > Discouraged workers (U-4, U-5, and U-6 measures) are persons who are not in the labor force, want and are available for work, and had looked for a job sometime in the prior 12 months Source: https://www.bls.gov/lau/stalt.htm https://www.bls.gov/lau/stalt.htm
      - ghaff 4y ago
        In general, it doesn't really make sense to count someone who isn't trying to be employed as unemployed in general. I am not sure how you would distinguish between a 60 year old who decided they had plenty of money and would rather not work for someone any longer and a 60 year old who got laid off and can't find anyone to hire them for the work they are trained to do. And, as you say, there are labor force participation numbers if that's what you're interested in.
    - dylan604 4y ago
      Maybe I haven't been reading too closely and have missed the answer, but how many of the laid off employees were on work visas that are now also looking at having to leave the country? Since it's tech companies, I'd assume there's a decent percentage. How do those types of numbers affect the unemployment stats?
    - alfalfasprout 4y ago
      It's really not that unusual. At major tech companies a sizeable amount of the workforce is on an H1B
      - ghaff 4y ago
        I expect that if you combine the percentage of H1Bs at tech companies, the percentage of layoffs in tech overall, and the percentage of that number who can't find something else and have to or choose to leave the country you end up with a fairly modest number in the scheme of things.
  - dragonwriter 4y ago
    Well, yes, if you aren't in the country, you won’t show up in the country’s employment or unemployment statistics.
away271828 4y ago
What I've been seeing with the caveat that I may just be more aware of the senior people is a significant number of people with 10+ years tenure at the company leaving.
- 0000011111 4y ago
  Thats what suprized me as well. I have one friend who was level 7 at google on the youtube team. His whole team was cut in the 1st round of layoffs. He had been at google for 12 years.
samstave 4y ago
Any change in salary?
- monero-xmr 4y ago
  We have already announced there will be no bonuses for 12 months. However we are quite obviously not going to go out of business, and people have higher-end salaries, so I think people just want to stay where it's safe.
shmatt 4y ago
This is my unpopular take on the layoffs at extremely profitable companies Hiring rates skyrocketed during covid, but so did attrition rates (well, the same people joining Google left some other company) After big tech started freezing hiring in summer 2022, attrition rates most likely tanked, people wanted to stay put. 6-8 months later, companies ended up with way more employees than they planned, even though they were the ones hiring, cue layoffs. People will crap on Google or Salesforce "why did you hire so much?" - but during the great resignation - what were they supposed to do?
- vineyardmike 4y ago
  This isn’t very unpopular. Most tech companies demonstrably hired at the same rate but as the base number grew, each new quarter brought in more people. And yes, attrition crashed when they announced hiring freezes. At companies like Google, the layoff count was similar to expected attrition.
- oofta-boofta 4y ago
  > People will crap on Google or Salesforce "why did you hire so much?" - but during the great resignation - what were they supposed to do? Gee, I dunno, maybe NOT double in size like Salesforce did? https://www.macrotrends.net/stocks/charts/CRM/salesforce/number-of-employees https://www.macrotrends.net/stocks/charts/CRM/salesforce/num...

We have an expected attrition rate at my company across all departments. We normally lose about 10 people per quarter. This quarter the number of people leaving - zero.

beebmam 4y ago

I've seeing a higher than normal attrition rate. Unemployment rate among tech workers stays absurdly low, went down to 1.5% last month: https://www.usatoday.com/story/money/economy/2023/02/07/tech-layoffs-2023-google-amazon/11135692002/ https://www.usatoday.com/story/money/economy/2023/02/07/tech...

analyst74 4y ago
How do they calculate this rate? I simply left the country after layoff, and most likely not counted in the numbers.
- ghaff 4y ago
  The US BLS has 6 different unemployment measures. The one that's usually quoted is U-3 which means unemployed but seeking work. But if you left the country, I assume you're not counted in any unemployment measurement. (Though I also assume that's a sufficiently unusual edge case that it doesn't really move the needle on any of the statistics.)
  - onlyrealcuzzo 4y ago
    In the US, you're not "unemployed" if you don't have a job and you don't want one. I believe if you're a US citizen vacationing long-term in France because your work prospects aren't great at the moment - you'll still show up as not in the labor force in the labor force participation rate: https://fred.stlouisfed.org/series/CIVPART https://fred.stlouisfed.org/series/CIVPART But you won't show up in u-1 through u-6. > Discouraged workers (U-4, U-5, and U-6 measures) are persons who are not in the labor force, want and are available for work, and had looked for a job sometime in the prior 12 months Source: https://www.bls.gov/lau/stalt.htm https://www.bls.gov/lau/stalt.htm
    - ghaff 4y ago
      In general, it doesn't really make sense to count someone who isn't trying to be employed as unemployed in general. I am not sure how you would distinguish between a 60 year old who decided they had plenty of money and would rather not work for someone any longer and a 60 year old who got laid off and can't find anyone to hire them for the work they are trained to do. And, as you say, there are labor force participation numbers if that's what you're interested in.
  - dylan604 4y ago
    Maybe I haven't been reading too closely and have missed the answer, but how many of the laid off employees were on work visas that are now also looking at having to leave the country? Since it's tech companies, I'd assume there's a decent percentage. How do those types of numbers affect the unemployment stats?
  - alfalfasprout 4y ago
    It's really not that unusual. At major tech companies a sizeable amount of the workforce is on an H1B
    - ghaff 4y ago
      I expect that if you combine the percentage of H1Bs at tech companies, the percentage of layoffs in tech overall, and the percentage of that number who can't find something else and have to or choose to leave the country you end up with a fairly modest number in the scheme of things.
- dragonwriter 4y ago
  Well, yes, if you aren't in the country, you won’t show up in the country’s employment or unemployment statistics.

away271828 4y ago

What I've been seeing with the caveat that I may just be more aware of the senior people is a significant number of people with 10+ years tenure at the company leaving.

0000011111 4y ago
Thats what suprized me as well. I have one friend who was level 7 at google on the youtube team. His whole team was cut in the 1st round of layoffs. He had been at google for 12 years.

samstave 4y ago

Any change in salary?

monero-xmr 4y ago
We have already announced there will be no bonuses for 12 months. However we are quite obviously not going to go out of business, and people have higher-end salaries, so I think people just want to stay where it's safe.

shmatt 4y ago

This is my unpopular take on the layoffs at extremely profitable companies Hiring rates skyrocketed during covid, but so did attrition rates (well, the same people joining Google left some other company) After big tech started freezing hiring in summer 2022, attrition rates most likely tanked, people wanted to stay put. 6-8 months later, companies ended up with way more employees than they planned, even though they were the ones hiring, cue layoffs. People will crap on Google or Salesforce "why did you hire so much?" - but during the great resignation - what were they supposed to do?

vineyardmike 4y ago
This isn’t very unpopular. Most tech companies demonstrably hired at the same rate but as the base number grew, each new quarter brought in more people. And yes, attrition crashed when they announced hiring freezes. At companies like Google, the layoff count was similar to expected attrition.
oofta-boofta 4y ago
> People will crap on Google or Salesforce "why did you hire so much?" - but during the great resignation - what were they supposed to do? Gee, I dunno, maybe NOT double in size like Salesforce did? https://www.macrotrends.net/stocks/charts/CRM/salesforce/number-of-employees https://www.macrotrends.net/stocks/charts/CRM/salesforce/num...