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Do you happen to know why? The other replies are all providing a narrative that it is related to the new US administration, but as you say it wasn't very clear
by sefrost 2y ago
Do you happen to know why? The other replies are all providing a narrative that it is related to the new US administration, but as you say it wasn't very clear who would win until the results were counted. So if it's been happening for a year it couldn't be related to that.
- iLoveOncall 2y agoI only have second hand accounts but I've heard the Instagram CEO just hated having employees in London (/ outside of the US) and therefore started with closing Instagram positions there. Then the rest is following. And to be clear I'm not sure a UK employee is that much cheaper than a US one. The salary is not THAT far off between the two, especially when converting from GBP to USD, and employers have a lot more social charges to pay on top of salaries in the UK and Europe. If you add the cost of collaborating across very spread timezones, I really don't think hiring outside of the US is that much cheaper.
- matwood 2y agoSpeculation. Brexit (one of the greatest self-owns in political history, though the US is trying to top it) and the UK continue to tighten general travel/immigration rules. London used to be a great spot to have a companies EU presence. Brexit has only amplified London as primarily a bank for world criminals. Companies eventually wonder what's the point of being in the UK when they still need EU presence anyway.