2020 Recession - Global Lay off started now - first airlines

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Covid-19 Brings a Reckoning of Layoffs to Silicon Valley

https://www.bloomberg.com/graphics/2020-coronavirus-technology-layoffs/?srnd=premium

Layoffs have slammed tech companies both large and small since the start of the coronavirus pandemic in mid-March. The industry has cut more than 40,000 jobs so far, but this month was the cruelest yet. In a single week in early May, Uber Technologies Inc. announced it would slash 3,700 positions, Airbnb Inc. said it would cut 1,900 and Lyft Inc. fired or furloughed more than 1,000.

Pharma is still hiring/I’m still getting same amount of recruiters reaching out to me as before

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Layoff Watch ’20: Deloitte Has Begun Handing Out Thousands Of Pink Slips

https://goingconcern.com/layoff-watch-20-deloitte-has-begun-performance-related-separations/

Deloitte Tax Chairman and CEO Steve Kimble announced this morning during an all-tax-hands call that layoffs are underway. We haven’t been able to confirm this yet, but from what we’re seeing, the damage is 5% job cuts firmwide and 1.5% of the workforce either being furloughed or having their work hours reduced with reduced pay.

IBM, the Silent Job Cutter, Stokes Worker Anxiety, Speculation

  • Big Blue stays quiet on dismissals. Even managers don’t know

  • ‘Half my department is gone,’ says one ousted IBM employee

https://www.bloomberg.com/news/articles/2020-06-01/ibm-the-silent-job-cutter-stokes-worker-anxiety-speculation?srnd=premium

IBM’s new Chief Executive Officer, Arvind Krishna, has continued an unusual company tradition, refusing to disclose the scale of its latest round of job cuts.

The price: speculation about thousands of positions eliminated in the U.S. last month, and heightened anxiety among employees.

In online forums and private messaging groups, other former and current IBM employees shared snippets of information. Some posts recounted an executive based in Raleigh, North Carolina, telling staff that 20,000 workers were affected. Others said this is IBM’s biggest staff reduction in a decade.

Bruce Baumbush was let go after 22 years with Big Blue. “Half my department is gone,” he said in an interview. “Thousands of people were impacted.”

Employees in at least eight different states were dismissed, according to interviews with affected IBM workers. Entire teams were cut from the broader Watson business, including managers, these people said. They asked not to be identified discussing sensitive company issues.

BM dismissed 243 employees at three work sites in Costa Mesa and San Jose recently, according to California’s WARN office. Another 42 lost their jobs at an IBM location in the mid-Hudson region of New York State, according to a WARN filing on Friday.

Well that was quick :roll_eyes:

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Stitch Fix said Monday that it plans to eventually hire 2,000 stylists in U.S. locations which have a lower cost of living than cities in California - places like Austin, Texas, or Minneapolis. The company will be hiring stylists outside of California starting this summer and continuing into 2021, a spokesperson said, and laid off stylists will have the chance to relocate and continue working.

Edit:

You’re late @hanera to the party.

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Wasn’t the point to have AI learnt to be the stylist? Remind me again how and why they are a tech company?

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AI is a marketing buzzword today.

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Coz they have a website? Wait, am I in year 2000 again? :sunglasses:

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It’s worst than 2000. VC’s have way more money to blow than ever.

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Company announce to cut contractor hours from 40-32 hours

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