SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    The Great High Tech Layoffs
Page 1 2 3 
Go
New
Find
Notify
Tools
Reply
  
The Great High Tech Layoffs Login/Join 
Member
posted Hide Post
And the H-1Bs would bring in their relatives, etc., then drivers licenses, voting, on and on, whatever it takes to keep the Democrat machine running.


-c1steve
 
Posts: 4151 | Location: West coast | Registered: March 31, 2012Reply With QuoteReport This Post
Leatherneck
posted Hide Post
quote:
Originally posted by SIGnified:
I bet the Apple cafés and kitchens are quite nice.


The most amazing I have ever seen is at Nike down in Gresham, OR. Unbelievable… Personal chefs, for everybody in the “buffet line” of world cuisine.


I eaten at a few of their employee cafes. They are okay, nothing all that fancy. I had a chicken sandwich and fries. IRRC they had some pasta, some burgers/sandwiches and salads and soups. The sandwich wasn’t great. I was surprised by the minimal selection, and as mentioned, it was not free.

Years ago I ate lunch at a Bloomberg office in NYC. That was a really good lunch and it was free. That was the first time I’d ever seen full on free catering for employees. They had breakfast, lunch and dinner and a whole kitchen full of snacks and sodas and stuff.




“Everybody wants a Sig in the sheets but a Glock on the streets.” -bionic218 04-02-2014
 
Posts: 15287 | Location: Florida | Registered: May 07, 2008Reply With QuoteReport This Post
Member
posted Hide Post
Real estate and office space consolidation is following the layoffs.


____________________________________________________

The butcher with the sharpest knife has the warmest heart.
 
Posts: 13524 | Location: Bottom of Lake Washington | Registered: March 06, 2007Reply With QuoteReport This Post
Member
posted Hide Post
quote:
Originally posted by c1steve:
And the H-1Bs would bring in their relatives, etc., then drivers licenses, voting, on and on, whatever it takes to keep the Democrat machine running.


I spent some time working in a large office building occupied largely by Humana. Most of the employees entering where Indian or similar. I’m sure they work cheap, don’t complain, and come to work every day since they likely aren’t with family. When the WuFlu started the place became a ghost town since everyone was working from home. Since they are working from home, why bring them to the USA? I’d imagine lots of those jobs are probably off shored by now.


“That’s what.” - She
 
Posts: 424 | Location: Kentucky | Registered: June 06, 2021Reply With QuoteReport This Post
Live for today.
Tomorrow will
cost more
Picture of motor59
posted Hide Post
Salesforce (NYSE: CRM) is another big tech company that's downsizing.
On Jan 4th, they laid off 10% of their workforce - about 8000 positions.




suaviter in modo, fortiter in re
 
Posts: 3168 | Location: Exit 7 NJ | Registered: March 21, 2005Reply With QuoteReport This Post
women dug his snuff
and his gallant stroll
posted Hide Post
quote:
Originally posted by slosig:
...it was very clear that there was “not enough time to hire carefully and not enough time to deal with the problem hires.”

Any company that has grown as rapidly as some of these companies has is absolutely going to have deadwood that needs pruning.

I see this at the company I work for, which is not in the high tech sector but aerospace and defense. We've gone through an incredible surge in hiring over the last few years. When I started eleven years ago, my department was roughly 180 people. Now we're at 520 with the expectation that we're going to grow a further 15-20% by mid year. For a while there, it seemed like they were hiring anyone who could fog a mirror. I definitely interact with people who are in way over their heads. I assume at some point down the road, cuts will come and the low performers will be let go.
 
Posts: 10833 | Registered: August 12, 2002Reply With QuoteReport This Post
Member
posted Hide Post
quote:
Originally posted by jed7s9b:

I spent some time working in a large office building occupied largely by Humana. Most of the employees entering where Indian or similar. I’m sure they work cheap, don’t complain, and come to work every day since they likely aren’t with family. When the WuFlu started the place became a ghost town since everyone was working from home. Since they are working from home, why bring them to the USA? I’d imagine lots of those jobs are probably off shored by now.


The rule at a previous employer was to always hire people in India as they're 1/5th the cost of an American. Next option was to hire an H1B as they cost 30% less than an American. Americans were only hired as a last resort.
 
Posts: 2384 | Registered: October 24, 2007Reply With QuoteReport This Post
Member
posted Hide Post
My father was relocated to the South at age 57. He was a mechanical engineer. Having lived up North his whole life he was unhappy. They then laid him off a year later and at age 58 could not find any work. He was quite unhappy for years.
I was not living at home at the time and had my own income. It taught me that you are more loyal to a corporation than they are to you.

It convinced me to open my own business. It was quite a struggle for several years, but I would not have it any other way. Contracts and people come and go but if you work at it there are always opportunities.
 
Posts: 17706 | Location: Stuck at home | Registered: January 02, 2015Reply With QuoteReport This Post
goodheart
Picture of sjtill
posted Hide Post
My younger son is--or was--a software engineer with MS in CS from UCSD. He did well for years, but as he got older jobs got harder and harder to come by.
Now he's 49. Doubt he'll ever work in software again, particularly after not having worked regularly for years now.
He also doesn't have the energy for the tech world, unless it's a government job.
So if he had any hope of getting a job in the field before, it's pretty hopeless now, with about 100,000 unemployed tech workers out there.


_________________________
“Remember, remember the fifth of November!"
 
Posts: 18627 | Location: One hop from Paradise | Registered: July 27, 2004Reply With QuoteReport This Post
Member
posted Hide Post
I imagine the downstream effects of the FANG layoff's are also significant. There are 100's of companies that are AZURE, AWS or GCP centric that sell and support those infrastructures to their customer base (private and government) and future prospects. Those medium and small sized companies must be having layoff's as well were just hearing about it as much.
 
Posts: 1482 | Location: Western WA | Registered: September 11, 2006Reply With QuoteReport This Post
Member
posted Hide Post
Many layoffs have not been in the news. Wells Fargo has had more than a dozen rounds of layoffs in the past year. Today I heard 300,000 people have lost their jobs since Thanksgiving.
 
Posts: 2384 | Registered: October 24, 2007Reply With QuoteReport This Post
Nullus Anxietas
Picture of ensigmatic
posted Hide Post
quote:
Originally posted by sjtill:
My younger son is--or was--a software engineer with MS in CS from UCSD. He did well for years, but as he got older jobs got harder and harder to come by.
Now he's 49. Doubt he'll ever work in software again, particularly after not having worked regularly for years now.
I kind of lucked-out in this respect. Around about 1994 or so I moved from software into IT. I did it mainly because I was tired of doing software development. Plus, where I worked, software engineers were occasionally obliged to travel. I'd tired of that, too.

Turned out to have been a wise move. Was about that time, or not long after, out-sourcing became all the rage. Then the job market became flooded with software engineers. They became a dime a dozen.

IT is a bit more difficult to out-source. Sometimes you have be able to lay your hands on the hardware. Last I knew: Good IT people were still in high demand.

Maybe something for your son to consider, sjtill?



"America is at that awkward stage. It's too late to work within the system,,,, but too early to shoot the bastards." -- Claire Wolfe
"If we let things terrify us, life will not be worth living." -- Seneca the Younger, Roman Stoic philosopher
 
Posts: 26034 | Location: S.E. Michigan | Registered: January 06, 2008Reply With QuoteReport This Post
Member
posted Hide Post
Cisco To Fire "Thousands", Adding To Firehose Of Tech Layoffs Since Beginning Of 2024

https://www.zerohedge.com/econ...yoffs-beginning-2024

The tech industry has been so delirious about the vast wealth that pervasive chatbots will supposedly unleash, it forgot about the massive layoffs on the road to AI nirvana. Luckily, every day there is a new tech giant to remind us of just how much fewer jobs will be needed in said future, and how laughable the Biden Labor Department's "strong jobs data" is... and today it was network giant Cisco's turn.

According to Reuters, Cisco will lay off "thousands of employees", as part of a business restructuring which seeks to "focus on high-growth areas".... such as AI/chatGPT of course. The San Jose-based company, which has a total employee count of 84,900 according to its website - is still deciding on the total number of employees to be affected by the layoffs, but it will certainly be substantial. The official announcement will likely come next week, when the company holes its earnings call on Feb. 14.

In November 2022, Cisco announced during an earnings call a restructuring that impacted roughly 5% of its workforce which lead to $600 million in severance and other charges. Back then Cisco cut its full-year revenue and profit forecasts, and blamed the weakness on a slowdown in orders in the first quarter, saying "customers are currently focused on installing and implementing products in their environments." The coming mass termination will probably reiterate continued weakness even as the lunatic buying up chatGPT chips and hot air keep bidding up the AI bubble.

Cisco joins dozens of other tech companies which have started 2024 - a year when supposedly the economy is bursting higher according to fans of the president with dementia and where AI stocks are soaring - with another brutal wave of job cuts, paring back even further after widespread layoffs last year.

So far, nearly 34,000 tech workers have lost their jobs in 2024 according to Layoffs.fyi.

Good luck with Bert, who clearly has zero conflicts of interest. And also good luck to anyone else who believes that BS from the BLS that unemployment is "falling"; instead here is the truth, and this covers just the past few weeks.

1. Twitch: 35% of workforce
2. Roomba: 31% of workforce
3. Hasbro: 20% of workforce
4. LA Times: 20% of workforce
5. Spotify: 17% of workforce
6. Levi's: 15% of workforce
7. Xerox: 15% of workforce
8. Qualtrics: 14% of workforce
9. Wayfair: 13% of workforce
10. Duolingo: 10% of workforce
11. Washington Post: 10% of workforce
12: Snap: 10% of workforce
13. eBay: 9% of workforce
14. Business Insider: 8% of workforce
15. Paypal: 7% of workforce
16. Okta: 7% of workforce
17. Charles Schwab: 6% of workforce
18. Docusign: 6% of workforce
19. UPS: 2% of workforce
20. Blackrock: 3% of workforce
21. Citigroup: 20,000 employees
22. Pixar: 1,300 employees

According to the Biden Bureau of Goalseeked Statistical Bullshit, none of this is happening...


_________________________
"Sometimes I wonder whether the world is being run by smart people who are putting us on or by imbeciles who really mean it."
Mark Twain
 
Posts: 13479 | Registered: January 17, 2011Reply With QuoteReport This Post
Member
posted Hide Post
To avoid the cost of layoffs many companies are doing Silent Sacking. They use creative methods from impossible to reach goals, PIP plans, and more to encourage employees to leave. Wells Fargo moved a local office location to a nearby town and then told employees they must be on-site daily or they will be considered to have resigned. John Deere just announced a mandatory Return To Office rule four days a week after being open to remote or hybrid for 5+ years. Stories from Amazon talk about managers trying to get employees to transfer to other departments so they don't have to incur the layoff cost later.

Discussion: Hacker News: Amazon's Silent Sacking
 
Posts: 2384 | Registered: October 24, 2007Reply With QuoteReport This Post
אַרְיֵה
Picture of V-Tail
posted Hide Post
quote:
Originally posted by sjtill:

My younger son is--or was--a software engineer with MS in CS from UCSD. He did well for years, but as he got older jobs got harder and harder to come by.
I believe it was December 31, 2019, that Joe Biden gave some sage advice to coal miners in New Hampshire. He told them to "learn to code." Roll Eyes



הרחפת שלי מלאה בצלופחים
 
Posts: 31712 | Location: Central Florida, Orlando area | Registered: January 03, 2010Reply With QuoteReport This Post
Baroque Bloke
Picture of Pipe Smoker
posted Hide Post
My financial guy said that AI is causing a good deal of high tech job losses. He thinks that’ll be very good for the economy, however bad it is for the displaced.



Serious about crackers
 
Posts: 9701 | Location: San Diego | Registered: July 26, 2014Reply With QuoteReport This Post
Member
Picture of erj_pilot
posted Hide Post
Sure am glad I vacated the IT industry circa 2002...



"If you’re a leader, you lead the way. Not just on the easy ones; you take the tough ones too…” – MAJ Richard D. Winters (1918-2011), E Company, 2nd Battalion, 506th Parachute Infantry Regiment, 101st Airborne

"Woe to those who call evil good, and good evil... Therefore, as tongues of fire lick up straw and as dry grass sinks down in the flames, so their roots will decay and their flowers blow away like dust; for they have rejected the law of the Lord Almighty and spurned the word of the Holy One of Israel." - Isaiah 5:20,24
 
Posts: 11066 | Location: NW Houston | Registered: April 04, 2012Reply With QuoteReport This Post
His diet consists of black
coffee, and sarcasm.
Picture of egregore
posted Hide Post
quote:
Originally posted by ensigmatic:

I'm reminded of the employer from which I retired. The President and CEO, a real hardcore, old-school businessman, once told everybody at a staff meeting something like "Everybody needs to be thinking in terms of what they're bringing to the party. If they don't know, then the answer is probably nothing."


 
Posts: 29077 | Location: Johnson City, TN | Registered: April 28, 2012Reply With QuoteReport This Post
Member
posted Hide Post
I made it through the dot com bubble burst (2000 ish) and the 2008 financial collapse. Both were not good for tech employees and I had to take pay cuts to stay employed. As late as two years ago we have folks passing online courses, getting "certs", and demanding "senior" level salaries. What was bad is they were actually getting them. We had positions for developers remaining open for over 12 months. Now is a very different story. We have 10 applicants for a single senior developer position. Most have 1 - 2 years of experience and were just recently laid off. Their working from home since Covid is really hurting them because the have received very little to no feedback on their work product. Their interviews are pathetic. Ensigmatic's post about what do you bring to the table is 100% in effect right now. Most are finding that they bring very little to the table and noticing that it is a very bitter pill to swallow.
 
Posts: 7783 | Registered: October 31, 2008Reply With QuoteReport This Post
Political Cynic
Picture of nhtagmember
posted Hide Post
While ‘trimming the fat’ in some of these companies is long overdue I will start to get worried if I start hearing of major layoffs in the really high tech companies like Intel, TI, and other high capital outfits. They are typically designing 18 - 24 months ahead of where they are in production
 
Posts: 54069 | Location: Tucson Arizona | Registered: January 16, 2002Reply With QuoteReport This Post
  Powered by Social Strata Page 1 2 3  
 

SIGforum.com    Main Page  Hop To Forum Categories  The Lounge    The Great High Tech Layoffs

© SIGforum 2024