Layoffs of 2023 - Learn to weld

[Meat Target]

A thread to discuss the ongoing purges of diversity hires and sinecures from useless corporations.

Here's the body count as of last week:

• Salesforce: 8,000
• Amazon: 18,000
• Coinbase: 950
• Alphabet/Google: 12,000
• Goldman Sachs: 4,000
• Microsoft: 10,000

 

[Just A Butt]

nothing of value was lost?

 

[dreamworks face]

Twitter started all this off. Imagine 3000 software engineers for fucking twitter. Reddit was bitching and moaning about the lost "institutional knowledge" but you don't need 3000 engineers for a website that puts 180 character forum posts on a screen, a couple of cellphone apps, and an admin panel. Say what you will about Elon, but twitter site is 10x faster now, no outages, and he cut it to 550 engineers (not that it wasn't 100% dumb as fuck for him to buy it in the first place).

 

[Knight of the Rope]

This site is probably informative: https://layoffs.fyi/. The dude running that site has been chronicling tech layoffs since the coof.

 

[Lord of the Large Pants]

They unironically should've learned to code.

 

[mandatorylurk]

I often feel like Salesforce is one of the biggest grifts in business and is why people hate salesmen even more than they should, but it has infected the right people in companies who defend it to the death.

 

[Kiwisee]

These mass layoffs were coming sooner or later. Just so happens that the coof likely accelerated things, and now the very laptop class which pushed for lockdowns are now losing their jobs due to the recession caused by said lockdown.

I hope the lockdown was worth it, jannies. Get some better skills or start up your own companies.

 

[Meat Target]

These mass layoffs were coming sooner or later. Just so happens that the coof likely accelerated things, and now the very laptop class which pushed for lockdowns are now losing their jobs due to the recession caused by said lockdown.

I hope the lockdown was worth it, jannies. Get some better skills or start up your own companies.

It's basically another dot-com bubble.

 

[Sniperwoof]

This thread should be titled "the great flush of 2023" since 95% of these people are poos.

Remove poo.

 

[WelperHelper99]

Us welder bros stay winning. God I'm glad I chose to start welding in high school, I was mocked for not going to college, but look at me now!

 

[Blobby's Murder Knife]

It's basically another dot-com bubble.

Cycles repeat, such is the nature of man. Every time it is different, lol.

 

[Second Sun]

The fact that they're all big round numbers shows how utterly useless these companies are. If 987 people are let go - that's a project or a division, but 1000 is just a random cull that shows they either have no idea what value the employees bring, or don't care due to having pools of employees basically doing nothing.

 

[Absolutego]

The fact that they're all big round numbers shows how utterly useless these companies are. If 987 people are let go - that's a project or a division, but 1000 is just a random cull that shows they either have no idea what value the employees bring, or don't care due to having pools of employees basically doing nothing.

That's equally on shitty reporting as it is on lazy management. Google and Amazon both took a total axe to their device departments and the media just rounded the number to the biggest figure. Other, more social firms like Facebook and the various banks did the classic "tell every manager to lose a guy on their team" RIFs that just purges the company of anyone who wasn't a single point of failure.

 

[Bananadana]

The fact that they're all big round numbers shows how utterly useless these companies are. If 987 people are let go - that's a project or a division, but 1000 is just a random cull that shows they either have no idea what value the employees bring, or don't care due to having pools of employees basically doing nothing.

After the twitter firings, im 100% convinced that the Pareto principle or "80/20 rule" applies to every big woke corporation that has decided that meritocracy is what Hitler would do.
Especially for software companies that have a small minority of coders and a seemingly unlimited supply of bullshit jobs.
Add supporting evidence like This:

And i think most of these companies could easily let 50% of their staff go without any major (negative) effect on productivity.

 

[888Flux]

The people being laid off are dead weight. It's the same type of people making the "day in the life of" videos who boast about doing absolutely nothing.

The primary reasons layoffs like these occur is because the FAGMAN tech companies are structured around continuous growth. Hiring employees is simply a number to add to the earnings report. More employees, regardless of their actual productivity or contributions to a company in the minds of shareholders indicates growth. You might be surprised to know that a lot of tech companies have never actually turned profit. One example is Uber. Uber grows in revenue but for almost every quarter they have never made a profit. Tech isn't in a bubble but the era of continuous growth and pricing tech stocks around continuous growth is. Remember that the actual value of these companies is derived from their share price.

Take a look at the Quarterly financials of Uber and you will notice a trend:

Net income: -1.21B

Net income: -2.6B

Uber has NEVER once actually made net profit as a company. But because of the way the FAGMAN system works, growth = value. These days are coming to an end it's leading to layoffs of dead weight retards who simply are put in their positions to prop up a number on a Form 10-Q. The people who have actual skills will always be of value.

 

[Local Fed]

At least we know that Null's financial situation is probably pretty stable since it doesn't appear that any jannies have been let go.

 

[WelperHelper99]

The people being laid off are dead weight. It's the same type of people making the "day in the life of" videos who boast about doing absolutely nothing.

The primary reasons layoffs like these occur is because the FAGMAN tech companies are structured around continuous growth. Hiring employees is simply a number to add to the earnings report. More employees, regardless of their actual productivity or contributions to a company in the minds of shareholders indicates growth. You might be surprised to know that a lot of tech companies have never actually turned profit. One example is Uber. Uber grows in revenue but for almost every quarter they have never made a profit. Tech isn't in a bubble but the era of continuous growth and pricing tech stocks around continuous growth is. Remember that the actual value of these companies is derived from their share price.

Take a look at the Quarterly financials of Uber and you will notice a trend:
View attachment 4393096
Net income: -1.21B
View attachment 4393104
Net income: -2.6B

Uber has NEVER once actually made net profit as a company. But because of the way the FAGMAN system works, growth = value. These days are coming to an end it's leading to layoffs of dead weight retards who simply are put in their positions to prop up a number on a Form 10-Q. The people who have actual skills will always be of value.

In the industrial world, this shit has killed companies. Massive ones. I can think of no better example of Convair and the the Convair 990. Fastest subsonic jetliner there ever was, hitting transsonic speeds at 620mph or Mach 0.871 Unfortunately with engineering challenges (these fuckers didn't have CAD in the 60's) , competition with a previous fast jet they built, the 880, and rising fuel prices, they only built 37. And so the mighty Convair, builder of many fighters and bombers of ww2, died, and was bought out.

 

[Super-Chevy454]

We might add Paypal to the list.

https://www.msn.com/en-us/money/news/paypal-will-lay-off-2000-workers-or-7-of-staff/ar-AA16XBAd

PayPal said Tuesday it plans to lay off about 2,000 employees, or roughly 7% of its staff, making it the latest tech firm to announce significant job cuts in recent months amid broader economic uncertainty.

In a memo to staff announcing the layoffs, PayPal CEO Dan Schulman referred to the “challenging macro-economic environment” and said the company “must continue to change as our world, our customers, and our competitive landscape evolve.”

Much of the tech industry is cutting costs in response to a shift in pandemic-fueled demand for digital services and economic headwinds, including rising interest rates and fears of a looming recession. In January alone, Microsoft, Google-parent Alphabet and Salesforce each announced plans to cut thousands of workers.

There was a time when Paypal closed some accounts of peoples who was conservative/right-wing. Pepperidge Farms remembers and karma bite you back. No need to guess how the Joker reacted to this news.

 

[Lord of the Large Pants]

At least we know that Null's financial situation is probably pretty stable since it doesn't appear that any jannies have been let go.

But THEY DO IT FOR FREE

 

[Flatline]

Us welder bros stay winning. God I'm glad I chose to start welding in high school, I was mocked for not going to college, but look at me now!

Time to start gatekeeping welding and other blue-collar jobs.