The Brutal Truth Behind Tech Layoffs
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- Опубликовано: 24 янв 2024
- In the recent months companies like Unity, Amazon, Intel, IBM, Nokia, Samsung, and many more have fired hundreds of thousands of tech workers collectively.
In this video I dive into the dark side of the tech industry and what is fueling this current wave of mass layoffs, the whispers of "employee farming," and the hiring practices fueling a collapse within the industry.
Please like, subscribe, and leave a comment about your experience working in technology or a related industry doing layoffs.
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"The jobs are fake, The Money is fake, the Economy is fake" - Luke Smith
The reason companies hire so many programmers is all about power. If you have a team of 5 programmers, then those 5 people have huge power over the fortunes of the company, they can just leave and make the enterprise fail, or demand any level of salary. By having large teams, and none of those people responsible for anything more than a small aspect of the whole a company protects itself from having to deal with powerful workers. The workforce can be shed whenever cost cutting is required, no problem, and workers can be disciplined by the fear of being laid off
I remember working at Google HQ, everyone was either eating free food , at a pointless meeting, looking for parking or in line to get free food…. Hardly anything ever got done… I always knew if they got rid of everyone and only kept the top 20% performers the whole operation wouldn’t skip a beat
I am the quintessential generalist with decades of experience successfully developing software. Being retired now, I've been easily picking up remote contract work for the last several years. I am suddenly not getting a single new offer. Something is going on.
All in all, we're all just bricks in the wall.
I'm a software engineer, and I've been through multiple rounds of layoffs at a big tech in the Bay Area. Believe me when they cut for layoffs, the decision between who stays and who goes comes from very high up leadership, they have absolutely no clue who's the high performers or not. I've seen teams where all the senior high performers were let go, typically leaders look at the quarterly planning and they decide which projects they want to deprioritize, which one they want to keep their focus on. Based on that they do the layoffs. Sometimes you see senior engineers they were on a major overhaul of a platform project to save on infrastructure costs for the long run, they are the experts. But the average engineer has a tiny feature to work on, but that tint feature has more value to leadership short term, so byebye the seniors 😢 Leaders only think short term for their own career path
As a tech recruiter for the past 12 years, this is worst market I've ever seen. The jobs we do have to fill are all ultra niche hyper specialized with picky hiring managers and/or have undesirable characteristics such as low end under market pay ranges or firm onsite requirements. The roles seem to go unfilled indefinitely because the people who actually want the job are rejected and the people the clients want to hire are declining the offer. We never come across the "generalist" jobs you're encouraging people to find unfortunately. Great video though - appreciate your insight.
I highly specialized in the 2000's. In 2016, I was laid off because my specialization was no longer needed. I've had to change my entire career because of hyper-specialization.
I am so burnt out by this industry. I'm all but done. If my position actually goes away since they are doing RTO, I doubt I'll ever get another job in the field. I have no debt, a paid off house, and low living expenses.
I didn't look through all of the comments, but many managers at companies over hire because they are working towards their next promotion. I have seen things like "you need to manage a team of X to get promoted" or "you need to be a manager of managers to reach the next level" so many times.
During the pandemic, some tech workers have 4 “full-time” jobs simultaneously (making over $600K/yr); it shows some hires are excessive.
There’s a couple of things he’s mistaken about.
The tech industry was started by people who were passionate about tech, then it was flooded by people who "wanted to work in tech", it's just a natural correction to get back to the essentials. I've worked as a developer in tech for over 25 years and am glad we're finally over the period where people were living their best lives in tech, without doing any real tech. There's been way too much bloat and bullshit over the years.
Another reason why tech companies hire so many programmers is that software these days is crazily over engineered. In the 90s software systems were developed simply and efficiently with emphasis on good code design and good code quality. These days it's all about daily's, scrum, Jira, meetings, meetings about meetings, complex test frameworks, automation test code taking 5 times longer to write than the actual functional code and which generally provides little value, greatly complicates development and refactoring and distracts from the actual code design. Programmers these days often don't even know the difference between using an array and a linked list. All they're interested in is the latest testing framework or whatever they think is the latest rage. There is also often a lot of over engineering of distributed systems. Companies using every kind of event backbone, database, etc merely because the programmers think it will look good on their resumes.
Im glad you said, 400 people working on UI for snapchat? how is that even possible, like you said, it is by far THE worst UI of ANY comparable social media app
It’s crazy that people at Google are getting paid $500k a year to eat free food, play ping pong, and sleep in nap pods. The layoffs were much needed.
My company has 17k+ and it probably could do with 2k, we are so bloated that I have been preparing since covid to get fired, it hasn't happened yet but I'm fully prepared if it does.
David Graeber wrote a great book, "Bullshit Jobs" ; we're in a hyper financialised society that lost its way long ago.
jobs are losing value daily with massive layoffs, Last year I was working full time budgeting groceries, unable to afford date nights, and missing time with my kids just to make extra money. These days I learn how to make money online, Using my job to finance my goals, You can't be an employee forever everyone should know by now, making extra cashflow interest everyday or weekly should be the goal now.