The Tech Industry is dependent upon huge amounts of Investment Capital that doesn’t matter if they make a profit for decades.
Those days are over.
Learn to mine ore.
ButButButButButBut “Joe!” Bidenomics! Tech jobs coming back! Lying Ss-O-S.
I trust everyone has been prepping but I know most (probably all) useful idiots have not.
Employers beginning to realize that it makes no sense to pay people for pretending to work from home?
A true "tech" company makes and sells "technology" products like chips, operating systems, applications, and all the supporting mechanisms -- real, tangible things -- which make for "technology."
The media jargon of "tech industry" is something else. Programmers put together large-scale "social media" -- like Facebook or X-Twitter -- which require fewer programmers now that the real "tech" has been bought from real "tech" companies and these social media companies are wildly overvalued. Because they have sold advertisers that their "access" to people -- the real data -- means profits. I suspect it is far less effective in that, over the long run.
The "tech industry" here in the US is mostly "social media" companies, as one looks to the likes of real "tech" to find most of the manufacturing is done overseas. So who needs those managers and people who learned to code when everything is up and running?
My "tech" companies actually make "tech." The social media "tech" makes noise and confirmation bias and ineffective advertising.
There's also the problem with having young employees who are ideology-driven (Woke and LGBTQ, that is). Employees with poisonous ideologies need to be culled because they not only spread the ideologies, they hire others with the same ideologies.
All in all, I think tech layoffs are a good thing and healthy for individual companies and the industry.
As an aside, young tech employees have no understanding of what business is all about. They haven't been trained in business, just STEM. They often think they have joined a collective of fellow like-minded techies whose lives will be nothing but an extension of their college days. They're in for some real surprises.
“After learning to code, Bob now is told to learn to flip burgers.”
Everything is fine, millions of jobs are available and that’s why we need open borders, inflation is under control and we should be getting back to prices like they were in the 80s. Everyone is buying electric vehicles buying houses, crime is way down and there’s peace throughout the world.
Come-on man.
America has a “labor shortage”.
Which means companies don’t want to pay for a full staff.
We just went through a round of layoffs. I expect more first quarter and I’ll probably be in that group. On a good note, I will be able to retire with a nice going away present.
Excellent.
Bust up Big Tech. Hopefully Hollywood gets beaten up some more too. Oh, and I hope Pfizer goes bust too.
Working for my somewhat technical company ‘engineered product’ is like starring in a 90’s slasher horror flick. Who’s next?
When discussing tech, it is compulsory to analyze outsourcing
https://capitalcounselor.com/outsourcing-statistics/
and the percentage of layoffs of those holding the H1B visa
https://www.nytimes.com/2022/12/09/us/tech-immigrant-workers-visas.html
Maybe the mangers at these big techs have discovered “quiet quitting”. Think of the guy in OFFICE SPACE that just shows up and does very little.
https://www.youtube.com/watch?v=iVLiRWD3gAM.
How many of those laid off are US Citizens, while they retain the H1-B visa holders?
So, I guess we shouldn’t Learn to Code after all?
Send all the H1B visa trolls back.