Posted on 01/20/2023 3:31:13 PM PST by Oldeconomybuyer
SAN FRANCISCO — When Lyft laid off 13% of its workers in November, Kelly Chang was shocked to find herself among the 700 people who lost their jobs at the San Francisco company.
“It seemed like tech companies had so much opportunity,” said Chang, 26. “If you got a job, you made it. It was a sustainable path.”
Brian Pulliam, on the other hand, brushed off the news that crypto exchange Coinbase was eliminating his job. Ever since the 48-year-old engineer was laid off from his first job at the video game company Atari in 2003, he said that he has asked himself once a year, “If I were laid off, what would I do?”
The contrast between Chang’s and Pulliam’s reactions to their respective professional letdowns speaks to a generational divide that is becoming clearer as the tech industry, which expanded rapidly through the pandemic, swings toward mass layoffs.
Millennials and Generation Z, born between 1981 and 2012, started tech careers during a decadelong expansion when jobs multiplied as fast as iPhone sales. The companies they joined were conquering the world and defying economic rules. And when they went to work at outfits that offered bus rides to the office and amenities including free food and laundry, they weren’t just taking on a new job; they were taking on a lifestyle. Few of them had experienced widespread layoffs.
Baby boomers and members of Generation X, born between 1946 and 1980, on the other hand, lived through the biggest contraction the industry has ever seen. The dot-com crash of the early 2000s eliminated more than 1 million jobs, emptying Silicon Valley’s Highway 101 of commuters as many companies folded overnight.
(Excerpt) Read more at news.yahoo.com ...
Youth Soccer
“If you got a job, you made it. It was a sustainable path.”
Naivete on steroids.....She confusing the real world of employment with civil service.
“emptying Silicon Valley’s Highway 101 of commuters “
Uh, no. It was still quite crowded everyday.
Bout the only thing that happened is the commute period contracted a bit.
The real relief didn’t happen until 9/11. For a couple of months, getting around the valley was a breeze. Upside to everything, huh?
Did a contract at a facebook sidebar operation for a while, and experienced firsthand the snowflake generation’s disconnect from the world of cold facts and reason.
I don’t wish ill on anyone, but many - if not most - of the young and tender techies are not going to handle the brutality of reality very well. It was surprising how many of those young twits thought reality was whatever they claimed it was. Clueless.
Talk about mass layoffs...These guys should have seen the aerospace industry in the 60’s through the 90’s.
over 40, costs too much!
Can she flip burgers or pole dance?
> 9/11. For a couple of months, getting around the valley was a breeze.
Huh. I ended up commuting out of state for a military contractor. Going through security offset the ease of driving to the airport. Come Jan 2 I must’ve spent 5 hours waiting in line for security.
Youth is about learning life lessons the hard way.
It is the best way!
Gee, somehow we all survived the Dot-Com Bubble, years ago 1995-2000. These poor, bewildered punks need to find a job to pay bills, instead of moving back into Mom & Dad’s basement.
Give em a participation trophy and say thanks.
Good one! LOLOLOL
People that speak that way don’t deserve to be employed. It shows a basic ignorance. That same ignorance allows one to think there is such a thing as job security. It’s been clear that hasn’t existed since America turned to rust. As for tech jobs, there have always been mergers and buyouts where the acquired company gets right-sized. Part of that is very healthy. It motivates people to continually keep pace with the latest tech and practices.
But they'll still vote for Democrats.
In tech your tenure is two to three years. Post resume accordingly
I entered the semiconductor industry as a student in the late 1970s. Learned very quickly that the industry cycled.
“These guys should have seen the aerospace industry in the 60’s through the 90’s.” For sure. The unethical cancellation of the Space Shuttle Program in 2011 forced 200,000 highly qualified white and blue collar workers to start over. Brutal, especially for workers with children. In other news, there is always an upside to down times.
oh the whine is so fast for these little 20 somethings.. my first layoff was 1999, had a new job in 2 weeks, next was 2009 again new job in 2 weeks, next was jan 2014. took me 5 months to get even a temp job, last and final layoff was in july 2020..
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