Business Big Tech Layoffs Megathread - Techbros... we got too cocky...

Since my previous thread kinda-sorta turned into a soft megathread, and the tech layoffs will continue until morale improves, I think it's better to group them all together.

For those who want a QRD:


Just this week we've had these going on:

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But it's not just Big Tech, the vidya industry is also cleaning house bigly:

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All in all, rough seas ahead for the techbros.
 
Ahahaha. Paramount DESERVES this after I learned about SEASON 2 of Halo. They managed to make it even MORE shit.
That money is gone and not coming back and companies have to get back to profitability and fast. No more huge research teams for hypothetical products, no more "at a loss" products, no more "let's fly a team of 400 people to a hotel to meet up and pay for all 400 flights and rooms" and so on.
Gone but it'll come back slowly. However it probably won't ever be as free as it was from ~2014-2019 until the early 2030s.

The Fed will probably start slowly cutting rates in mid to late summer (just in time to juice Biden's election camping 😎) but it'll be little cuts slow and steady.

Oh and inflation is still at about 4%, so DOUBLE the target
 
Gone but it'll come back slowly. However it probably won't ever be as free as it was from ~2014-2019 until the early 2030s.

The Fed will probably start slowly cutting rates in mid to late summer (just in time to juice Biden's election camping 😎) but it'll be little cuts slow and steady.

Oh and inflation is still at about 4%, so DOUBLE the target
The "free" money is gone. The era of a company with no path to profitability being valued at some astronomical value and then sold (which that company then sells, and so on) is dead. The absolute destruction of various industries that's still currently happening and what's going to follow in their wake is going to be massive as a whole lot of companies starve out and die. Doordash, Uber, Airbnb and any other "disruptive" company that subsisted on unlimited money are going to die and fuck up the economy with them.

By 2030 we'll have a new scam in place I'm sure - this particular one is almost certainly dead.
 
What is driving all the layoffs? Zero interest rates and the tech rapid growth of 2010s gone or is it the rise more of AI?
The former while blaming it and pivoting on the latter, amplified by larger macroeconomic problems, imho.
Basically there used to be so much money available because the economy was so good. Banks/VCs had tons of low interest loans and most everyone had disposable income.
Some lovely background on this, but largely summed up by this chart:
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https://newsletter.pragmaticengineer.com/p/zirp-software-engineers
because they knew the growth was going to continue.
They were delusional, the only thing they knew was it was a ride or die situation. Obviously it was going to end sooner or later but they had no incentive to prepare their workforce for it, only react once it came, as we're seeing now.
 
They were delusional, the only thing they knew was it was a ride or die situation. Obviously it was going to end sooner or later but they had no incentive to prepare their workforce for it, only react once it came, as we're seeing now.
I'm not disagreeing - but the world was also delusional.

In the first seven years of existing - Twitter never made a profit and lost billions of dollars and people were still lining up to throw money at it. Uber has the most unrealistic path to profitability (it's "eliminate all taxi companies then be the only show in town then really make a profit") and has lost billions and billions more than it has ever made. WeWork had one of the worst existences ever and $47 billion valuation.

For a while - investing was just gambling. You throw a few hundred bucks here and there and sometimes you win big (early crypto, apple, facebook, early vr, etc) but now in this economy people don't even have that money to gamble with after all of the corporate blunders. WeWork alone turned $47 billion into $20 million - literally lit that money on fire.

All to say that as a CEO/startup - for nearly a decade you didn't even need a good business plan, just a flashy pitch with no proof and people would throw billions at you (see Elizabeth Holmes). They all knew it was going to probably stop at some point, but never had any indication as to when.
 
They were delusional, the only thing they knew was it was a ride or die situation. Obviously it was going to end sooner or later but they had no incentive to prepare their workforce for it, only react once it came, as we're seeing now.
This is it, basically, like the .com era, their only goal was to get big and then cash out before the collapse.

And like most of those companies, whether the CEO hit the silk in time or not, the rank and file still rode the plane into the ground.

Embrace group, the dickheads who bought up loads of studios and sat on them, has cancelled 29 games in development.
If it's any consolation, none of them were going to be any good.

The only thing we're missing out on is 29 epic online meltdowns as designated diversity and inclusion hires on the dev team are sent out to die in hopeless battles on message boards , whining that the reason their shit game collapsed in 2 weeks on the market was dang dirty GamerGate.
 
Fellow wagecucks, that article is pretty good advice. Start getting used to going back to the office now. Let management know you’re happy to do more days in the office.

Hard times are coming and the people crying about coming into the office will be the first to go.

source: someone who is already compiling a list of the wankers who are crying about doing the job they are contracted for and waiting for the inevitable review of headcount due to less cash flowing in.
 
despite this, a survey reveals a promising picture that 79% of tech workers who were laid off are able to find a new job in 3 months

These niggers are lying lmao

PL here, but I just got shitcanned. Disorganized HR nightmare (((tech))) company that has a constant revolving door of people they hire for less and less, regardless of talent. Can’t even call all of them DEI, just simple, “You’re a milennial, this is the best you can expect.”

No one I know has had a stable, non slave-labor, non-under minimum wage, or non-freelance job in over a year. Unemployment pays better than a retail job because no one hires full time. 1/3 of any cheque goes to daddy government. California cities are filled with people paying $2000 with roommates, unable to have children because of the risk of living with a troon pedophile. Even the boomers I know are working into their 70’s and living with strangers.

Physical work goes to illegal immigrants. Can’t apply unless you speak Spanish, but any construction gig will still go to Pedro’s cousin. Self driving cars crash into pedestrians (mostly blacks.) There is no work, and no one can afford to move because chink nationals own the buildings. Can’t drive without paying a “summer blend gasoline” tax for the (((environment))) while streets are literally crumbling and infested with diseased, tent cities. These tech companies are failing, but of course, the CEO’s won’t take a hit.

The faggot politics which made California an unlivable, crack infested, desolate, crowded, dead state are infesting everywhere else. You can’t just “find a job”— there are none, they’re filled by illegals and robots, and teenagers do OnlyFans because they can’t do a job with physical labor that simply doesn’t exist.

San Francisco, Denver, Los Angeles, New York, Chicago, etc., are dead cities, becoming Gary, Indiana. There will never be work again and we will see the wonderful, diverse, third world shithole half the country voted for because the propaganda was too dank.
 
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Will actually side with the principle espoused here, in person does help in general better secure your position. Besides showing a willingness to adapt (and keep yourself under the radar), maintaining physical, face to face relationships with your fellow wage slaves coworkers can go a long way towards having middle management decide you're too valuable to let go - i.e. playing the social game and being well-liked often raises the bar for what's an "acceptable" termination notice, particularly if the company is only trimming the fat.

It doesn't mean you're immune from getting a pink slip (mass firing of whole team will be a thing for the foreseeable future, especially the big corpos), but if you're open to pulling hybrid and make the effort at playing nice you'll be one of the last put on the chopping block.
 
Will actually side with the principle espoused here, in person does help in general better secure your position. Besides showing a willingness to adapt (and keep yourself under the radar), maintaining physical, face to face relationships with your fellow wage slaves coworkers can go a long way towards having middle management decide you're too valuable to let go - i.e. playing the social game and being well-liked often raises the bar for what's an "acceptable" termination notice, particularly if the company is only trimming the fat.

It doesn't mean you're immune from getting a pink slip (mass firing of whole team will be a thing for the foreseeable future, especially the big corpos), but if you're open to pulling hybrid and make the effort at playing nice you'll be one of the last put on the chopping block.
Exactly. My new job has a pretty new office opening up in about 4 weeks and you bet my ass will be in it 2-3 days a week looking pretty and productive.

I'll also be using their A/C, drinking their coffee and using their toilets.
 
, that article is pretty good advice
just in general its good advice, I remember a blogger at buzzfeed or jalopnik or one of those sites talking about constantly getting the shit end of the stick because he was a WFH type and didn't get to schmooze with the editors or boss like the rest of the staff. Turns out just like what any intelligent person would have told you the last couple millennia, it doesn't matter if you produce results if you aren't friendly with the boss. Every promotion in any company i've worked at came because you befriended the managers, even if you were much worse at the job. And that article was from way back in 2015, i'm sure its even worse now. Especially with how few people did return to the office the ones that did with upper management became fast friends.
, are dead cities
WFH removed the need for cities for the most part, stuff like parking garages and resturants sprung up around the offices because people needed them, and housing close to the workplace led to the apartments and with that the public transportation system to get to all those places super quick.

WFH removes the need for all of that. But OTOH thats probably good, even taking in racial demos, being so tightly together as a population leads to crime. the european-descended whites in urban chicago are arrested and convicted a lot more than the european-descended whites from say Kenosha. Its a big reason less populated dense countries like Italy end up voting a fuck load more conservatively than a place like the netherlands, and its a similar effect in the states, even taking into account minorities.
Most of these companies still have more heads than they did in 2019 even after the layoffs.
even that can be blamed on the fact that more employees=company must be doing better according to stock holder mentality. Its always better to have 3 employees do the job of 1 as far as investors are concerned.
 
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