Is it just me, or are there more layoffs in tech than ever? What’s going on?

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No it's not just you, I think some companies are laying off just because other companies are.

likesmart

Yea it’s now a trend. Elon started it when he bought twitter and laid off half the staff but companies are now following trend but to their own detriment.

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Working in tech for more years than I want to state. It’s somewhat cyclical. Tech companies way overhired during covid and it was a race to staff. Ridiculous offers and $$$ being tossed around to land candidates. Lots of company to company title and job hopping. Fast forward to today and profits are impacted by salaries and benefits and the sheer number of people employed. Jobs are redundant across teams because everyone need an X on their team so everyone hired an X. But that X role could be shared across multiple teams because 5 Xs are not all busy. It’s a failure in senior leadership to have enabled and allowed such over hiring yet none of them are being let go. Whoopsie. Looks like mistakes were made - surely by someone else not me. “They” Let you hire too many people in the Zeta division. We were going to eliminate 50%. Sorry. Go do that and come back for our next round.

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Agree its kinda like how Google overhired during the pandemic, now they need to make cuts. And wrt Chase, we had devs creating stories for mandatory HR compliance training 🙄 Most were sharing stories since there weren't anything new. I collected free salary for 6 months because the team didn't have any new work. Bunch of us were taking half day lunch breaks

Worst I've seen in my career.

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It's a hire and fire cycle at Chase
We had 2 rounds of RIF so far and management is saying they need to cut 10% more by eoy to make the shareholders happy.
We were hiring like crazy the past year and obviously had so many redundancies with bloated product and dev teams

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The severance package at Meta for laid off employees almost makes it nice to be laid off depending on what your personal situation is….. personally wouldn’t mind getting 4+ months of full pay to reset and think about what’s next 😬

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Layoffs at Omnicom shops today?

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How long can you go without having anything to do before you get laid off?

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Stuck in a weird limbo where I want to leave my job more than anything but grateful that I have one at all with all the layoffs in our industry. It's a new kind of trapped. Anyone else feels the same?

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What is EY’s reputation like in Charlotte and the Carolinas region? I hear they had layoffs around a year ago. Is all of this sorted out?

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Interested in a San Francisco/Bay Area networking/support group for consultants that have been laid off?
See comments for more details

likeupliftinghelpful

Help me guys to choose between cisco and cvent. Want to join cisco but too scared of layoffs what should be done?

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Anyone else feel like as you move up, you have to work even harder to justify your value to your company as you grow “out of the weeds”? Especially with the fear of layoffs looming over everyone’s heads.

likehelpful

Is it better to quit or get laid off? I know what to look for when being pushed out and with a combination of the work I don’t have and the work the firm seemingly doesn’t have, it just feels like a mess. I’ll note I have other job offers lined up because I felt uneasy here for a bit.

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How is everyone feeling amidst these layoffs? Hope everyone is taking care of themselves!

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S&P Global Hey everyone, Heard this rumour that huge layoffs are going to happen in S&P global india....can anyone give heads up about this ?

S&P Global

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I heard from my head that there is a lot of slowdown in VW Germany... There is Hiring freeze, level freeze and all ... And soon that will spillover to india. So be prepared for very less hikes in coming cycle :( Also automotive sector in general is struggling with tesla laying off 10% workforce recently. Maybe time to make a move? What do you say fishes?

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Just found out I got laid off. Cheers to the weekend 🍺

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Hearing rumors about Huron layoffs. Any deets? Friend of mine said he got the "email".

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Update got fired: Based on previous post to pick up a Lower CTC (offer $$) or not
I'm planning on taking a lower money job

How's a response to my future hire a year later

I got laid off due to covid. I picked up this opportunity to pay my bills (40% lower Money)

So had to do this for a while

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Shall I disclose reason for leaving a firm during my initial call with a recruiter from said firm, if I was laid off? Are they privy to that information. Ironically being recruited by that same firm

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Interms of Job security in IT Streams, How secured Invesco is when compared to other IT Companies ? Will the current recession impact Invesco and can we expect any layoffs in Invesco India as well ?

Fishes need ur help...my friend s been laid off without notice...any quality analyst jobs please let me know....would be really grateful 2 u all...

Never thought Microsoft would layoff employees... Shocked 😲Amazon Microsoft

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lol so…. how’s clearview’s wlb and culture been going?

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Hi all,
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I am having 11 year exp in .net and healthcare domain and they are offering me 26 lpa. My current org is HCL and salary is 16 lpa.
My major concern is about job security.bcoz i have heard lot about lay off in cerner on the internet.

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A HR question I really want to understand. ISRS HR quoted a podcast "The not so great resignation" saying 70% regret leaving and many want to go back to old employer. If this really the case the employee likely left due to higher pay at the new company. If they want to boomerang back they will likely come back at even a higher rate than they left the new company for. So getting double raise when they boomeranged. Isn't it unbeneficial, why not just give employee a 7% raise in the first place?

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I'm currently looking for admin assist jobs that are remote. I was thinking a career in another country. Any advice, any ideas about companies I can apply to?

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Additional Posts in Laid Off in Tech Support Group

I’ve been lay off this afternoon because low performance, it just two weeks ago I talked to my manager and told her that she’s micromanaging me a lot and I need more autonomy at my work. I didn’t like what they’ve done to me specially I’ve been redundant from the previous role before joining this company. I cannot sleep please any plan’ action and what to answer for the reason why you leave your company? I’ve been in 3 jobs for the last 2 years.

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Any advice on networking to find a new role? I've worked in the same place for so long and I'm not sure how to get started.

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Need to urgently find a 500k job. Can't keep up with mortgages with anything less. Any advice?

likefunny

Hi everyone. I was a solution engineer at Oracle. I graduated from college in May and this was my first job out of college so the lay offs were pretty rough. I majored in Supply chain management and I have 2 internships under my belt. Do you guys have any advice or tips on what to do moving forward? I would like to stay in tech and I’m giving it a few weeks before I start pivoting to more traditional supply chain roles. Thanks.

likesmart

After 6 years of temporary contracts and unstable situations, I find my dream job in my dream company. All of a sudden the world goes upside down and I get laid off. I start sending hundreds of applications, with only 2 recruiters getting back to me to say I don’t have experience for the job (this is how it works in Italy). Add a terrible health situation in my family and it seems there’s no light at the end of the tunnel. Ugh. 😞

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What do I say if my employer asks me if I’m looking for other work, or want to know if I plan on leaving at a certain date?

some context - I am a temp to hire, and the company wants to bring me on full time now that my contract with the agency expires this week.

Ps. I am looking for other work, but this job is holding me over.

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Hey team! So I was laid off from my SDR position about a week ago. A couple months back, I had an offer for a BDR position that I ended up turning down but I really liked and connected with the manager. Is it worth it to reach out? I applied to other positions in the same company. What about reaching out to previous co workers at a different company? Not sure how to navigate this… please help. Also I’m sorry if this is the wrong bowl to post in.

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Networks have mobilized & documented opportunities - see doc in comments

likehelpful

Hey all!!
Hope you all are doing good.
Can someone share your thought of how to deal with this situation. I am completely lost in terms of my mental health. Not able to overcome and accept this situation. I think this is right place to ask, as we all are going through the same.

likehelpful

Should I negotiate a severance package even though it’s not in my contract and it’s not required by UK law?

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The week of my wedding, my husband (PL SQL Developer 4 yoe) was laid off. That was a couple of weeks ago. Luckily I'm still bringing money in as a software engineer, but I'm looking for advice on how to support a partner who has been laid off. Ultimately I think we will be ok, but I know he's hurting / stressed / and could use a supportive partner.

likehelpful

Should I be reaching out to recruiters and hiring managers after applying to jobs? I've mostly been applying through LinkedIn, so finding the right person isn't hard. I'm just afraid of coming across as obnoxious!

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