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Link seems to be behind a paywall. From what I have read, yes, Google layoffs are coming from the top (where else would they come from?), and it is an annual t
by arter4 3y ago
Link seems to be behind a paywall.
From what I have read, yes, Google layoffs are coming from the top (where else would they come from?), and it is an annual tradition.
Having never worked in a FAANG, I wonder if this cyclical behavior is due to:
1) projects lasting a few years, which leads to periodic massive hiring and massive layoffs,
2) people actually producing less in time (whether because of burnout or because they know they'll get a nice severance bonus and be able to find another job), which leads FAANGs to fire under performers (though, anecdotally, this isn't always the case)
3) bad HR planning,
4) all of the above.
- roguecoder 3y agoI suspect "wanting to diminish the power workers had built" should go on that list, as should "money is no longer free". Interest rates mean homeowners are far less likely to move, and companies are far less likely to keep spending borrowed money like it's candy. As for driving down wages & forcing people back into offices, we had a run where crypto companies were willing to pay a significantly higher percentage of a worker's value to the company & didn't care about playing nice with the other executives they golf with. Now that that bubble popped, the more-conventional companies don't have to continue to compete with those salaries and can go back to keeping more of the consumer surplus for the shareholders. But since you can't just lower people's wages, the way to lower average wages is by firing people you hired at the high wage rate.