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"post_content": "Wanted anyones thoughts on job freezes rumors and lay offs at some tech companies",
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"reply_count": 15,
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"bowl_id": "55375ce690f5eebe1d2a0f88",
"bowl_name": "Tech",
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Rising Star
Rumors are the U of fud (Fear, Uncertainty, and Doubt).
Are layoffs happening, sure. But as long as you're keeping your skills relevant and practiced, shouldn't be as much of an issue as long as you're flexible with what you're looking for in employment.
Even without a recession looming on the horizon, you should keep that resume up to date and interviewing just to know your own value and keep good practice for interviewing up. By interviewing regularly, that's the only sure fire way that you know you're worth being hired by another company.
100% - don't stress, but be prepared.
The economy is causing VC firms to become more conservative in their funding of tech companies. This is bad news for companies that are overvalued and aren’t profitable because they probably won’t be able to fundraise for 1-2 years. These companies are freezing hiring or laying off employees to extend their financial runway and prepare for an economic downturn.
I’d def be thinking about updating my resume, prepping for interviews, and networking at this time because very few companies won’t be touched by this *somehow*
Chief
The same amount of cash exists today as there was yesterday. Just in different hands. Go find the news hands that have the cash. It’s still there
Chief
Okay ya they lit all their capital on fire and those startups are out of business. That’s not a new phenomenon…? when “quantitative tightening” comes up like it is now it feels like the banks and governments get more spending power.
Lowkey right now I just feel like a cog in an economic machine bc the main places with money are the ones that are getting huge ass pay days from the feds. Or if you’re locked in at a company that made a shit ton from online ads.
I think company leadership needs to be open with employees about what's going on. It's not fair to leave people anxious and might cause a bunch of people to jump ship out of fear
I was told my contract was going to be extended in April, but as of last week they rescinded the extension 🥹 🎢 sounds like some departments will be cutting overhead by deprecating some of the contingent workforce
This just happened to me. With my contract cut short. Luckily I have been interviewing and have a FT offer from another company I’ve been sitting on. I’m planning to accept. I do also have some other internal interviews coming up but I’d really view this place as a stepping stone now even if I end up getting a FT role here.
There is growing concern from my circles in mobility as well. It's mostly the startups and younger companies that are either ripping through capital and realizing they have to pull back/freeze hiring, or public tech companies that rely on strong stock performance who saw stock prices shrink in the past weeks and are starting to clam up. Seems like a natural response but also not reading very much on this being the start of a major downturn yet.