Uh Oh....The Layoffs Begin

3 months severance for Twitter.

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BTDT.

On both sides.

A couple of times in my career before retirement.

  1. Thatā€™s a darn generous severance package! Appreciate it.

  2. Experience has taught me that, itā€™s better to be amongst the ones being laid off in cases like this, than to be amongst the ones remaining.

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The tech layoffs are much worse than I thought. This is before Facebookā€™s planned layoffs.

Hope the bloodthirsty JPow and his gang are happy.

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The coming recession is also known as white-collar recession. Blue-collar, the real thing, wonā€™t be affected much. White-collar is mostly playing with digital bits or admin.

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Are your kids working in real jobs or just playing with bits?

I was just parroting what is going around in social media. Please donā€™t punish the messagersšŸ«£

Tech layoffs in the last 3 years.

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https://archive.ph/gOj3v

Obvious is like dotcom bust. Now then say?

The one good thing about companies having offices all over is thereā€™s no way all 11,000 are in the Bay Area. It makes the pain less concentrated.

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Pay of META is the highest in SV. Expect EPA prices to dive soon.

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Will they though? I imagine engineers talented enough to work there will be desired by other companies. These people arenā€™t going to be out of work for 2-years or something crazy.

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Who are hiring?

Anyway, I expect economy to start booming in 2024 for another decade. If can last one year, then good.

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Yes everyone has hiring freeze, or are laying off. Bay Area companies have way too much fat, can easily trim half of all employees without any impact on real work (well perhaps productivity may increase due to less BS).

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We have to check the positions they are laying off. There are companies still hiring. I got my 4th offer today. Itā€™s not all gloom and doom.

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I have no comment since I am not working :slight_smile: However, in my previous employment, I believe good company should have 10% fat (to cater to unexpected demand/ quitting/ personal issues). As for whether is over staff or not, depends on quality of staff. Say, a project requires five good staff, if canā€™t get might need to get 20ā€¦ make sure no fool (not the same as intelligence, intelligent fools are the worse), they are equivalent to -2 to -5 staff. Please take note, you might not be able to get five good staff because of company recruitment and compensation policies, and also not able to get 20 staff for similar reasonā€¦ try your best to achieve desired result anyway :slight_smile:

You didnā€™t leave, obviously :-1: offer. Those donā€™t count.

Blind said FB laid off mostly non SWEā€¦

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Interesting. 13% of non-SWE? Who are not SWE? Many CS major are in non-R&D roles (I heard companies continue to hire R&D roles)

The last time Bezos focused on profitability in 2017 Amazon free cash flow shot up. WSJ reported Jassy is even more focused than Bezos on the bottom line.