2 ms·
It’s not herd mentality. The covid over hiring layoffs were last year. This year has been mostly related to cash flow drying up and borrowing more being very ex
by darth_avocado 3y ago
It’s not herd mentality. The covid over hiring layoffs were last year. This year has been mostly related to cash flow drying up and borrowing more being very expensive. Add to it the IRS rules changes re: R&D, companies are now looking to shut down any unprofitable ventures. Profitable companies are canning all experimental projects except the AI hype train. Unprofitable companies are trying to survive by downsizing until they can borrow more money again.
- seanmcdirmid 3y agoAlso trying to free up head counted and resources for big AI bets.
- Sakos 3y agoThis makes me wonder. How much have non-US tech jobs been affected by layoffs? Is this a US phenomenon or a global one or a Western one? Off the top of my head, I'm primarily aware of Embracer Group in Europe doing layoffs, but that seems to be tied to how their deal for funding with the Saudis fell through (at least that's the common narrative).
- killingtime74 3y agoMy large co virtually only laid off in US. We have employees worldwide. US employees get paid at least 2x more than next most country and have less worker protections compared to our other countries.
- Rebelgecko 3y agoThe company where I work is laying off in the US while growing in India and Central/Eastern Europe