My LinkedIn feed was absolutely filled with layoffs today. What happened? A month or two ago it was a candidate’s market and the offers were great but now everything has shifted. I was informed that I am not getting a promotion that I was gunning for, and when I pushed back about being fairly compensated for my work the response about it not being a good time to ask was really ominous. Anyone else feeling bummed?

likehelpful
Posting as :
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A lot of layoffs are happening at FinTech and housing related companies. They went crazy with hiring over the past couple of years and now their core business model has blown up due to overall market conditions (ie higher interest rates).

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You should record CNBC during the day and watch it in your spare time. It’ll help you get in tune with market conditions. This shift has been coming for awhile now and it’s just the beginning. The Fed’s free money policy has ended.

likefunny

I didn’t say follow their investment advice.

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About time these goofy, unprofitable, value destroying startups come back to reality tbh

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And a new cycle will start to replace them. I’m old enough to remember the tech crash in 2000. A lot of really bad companies died but out of the ashes amazon, eBay, PayPal, google survived.

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Lots of fintech companies are going to go under in the next 18 months. Bad business models.

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Many like buy now pay later are just bad business models with little amount of credit checking. They are burning through cash faster than they can collect. And once some of these people with bad credits stop paying it’s game over.

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It’s fairly depressing and not really valuable in my opinion. I used to open LinkedIn to learn something, stay up to date with industry and companies and hear about new opportunities. Lately it’s become like facebook: “inspirational” posts everywhere, layoffs + motivational speech post, linkedin influencers.. Who does this really serve? Is it really valuable to people to post they have been laid off? If it is then I’m glad, but if not what’s the point?

Source: lost my job twice because of company financial troubles but I am a really good employee, have a good CV and currently looking for my next opp. Getting on with it without the drama filled LinkedIn post but good old networking (on LinkedIn too)

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I assume the people are posting about layoffs for encouragement and so others in their network can share about job opportunities with them. I haven’t seen a bunch of layoff posts though so I’m not sure how they’re wording things.

Umm time to leave?? Start interviewing elsewhere. The market is still hot

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Where you working at?

Major CPG company

Any big companies?

https://joinfishbowl.com/bowl_vnbj65j5nz

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