Posted on 04/09/2024 6:47:59 PM PDT by 11th_VA
With tech layoffs at their highest since the 2001 dot-com crash, the job hunt is getting harder and many in the industry are being forced to settle for pay cuts if they can find a new gig at all.
Allison Croisant, a data scientist with about a decade of experience in technology, was laid off by PayPal
earlier this year, joining the masses of unemployed across her industry. Croisant has one word to describe the process of looking for a job right now: “Insane.”
“Everybody else is also getting laid off,” said Croisant, who lives in Omaha, Nebraska, where she worked remotely for PayPal.
... Since the start of the year, more than 50,000 workers have been laid off from over 200 tech companies, according to tracking website Layoffs.fyi.
It’s a continuation of the predominant theme of 2023, when more than 260,000 workers across nearly 1,200 tech companies lost their jobs.
...
For the tens of thousands of people in Croisant’s position, the path toward reemployment is daunting. All told, 2023 was the second-biggest year of cuts on record in the technology sector, behind only the dot-com crash in 2001, according to outplacement firm Challenger, Gray & Christmas. Not since the spectacular flameouts of Pets.com, eToys and Webvan have so many tech workers lost their jobs in such a short period of time.
Last month’s job cut count was the highest of any February since 2009, when the financial crisis forced companies into cash preservation mode.
(Excerpt) Read more at cnbc.com ...
[revoke the H1B’s and send them packing]
yes
“Last month’s job cut count was the highest of any February since 2009, when the financial crisis forced companies into cash preservation mode.”
But THIS year, it has nothing to do with a financial crisis because, as we’re told daily, we’re in good shape thanks to Biden. /s
Her company is PAYpal. When people don’t have money to spend, they can’t PAY money. Does she even get it?
[was laid off by PayPal]
Guess I have to revise that.
Welcome to the party, PayPAL!!
Bfl
So we're finally admitting we were not recovering in 2009? Guess what. We weren't. The Great Recession started in the jobs market in 2007 and we didn't really come out of it until 2015. Obama's idiotic policies prolonged the agony considerably.
I say this as someone who’s lifelong best friend (ie since 4 years old) is Indian. The ones we got in the past were generally good. Back then you had to prove you were not going to be a burden on society to get into the US. Now we let in hordes and hordes of Indians on H1B visas and they hold a lot of jobs in Tech and Finance. Unlike the earlier immigrants, these tend to be Left leaning.
Firstly, it should always COST MORE MONEY to hire a foreigner than it does to hire an American in America. Companies should be charged a fee of $40-50K per year for each H1b foreigner they employ to ensure this. Secondly, we sure as hell don’t need a bunch of Leftists. Send ‘em back.
This is going to cause a tectonic shift in the employment landscape as workers and managers adapt.
Maybe we should repatriate those tech jobs we’ve been offshoring.
I’m a software engineer with 35 years of experience. I recently decided to leave my current position because, among other things, the commute was a nightmare.
I had my resume out there and shortly got about 12 job offers. Had some interviews, and settled on 2 companies. I finally decided on the first one, especially since a friend of mine, who was a past boss and a great guy, works there.
When I sent my regrets to the second company, they got desperate. They offered more money, reduced hours, a project where I could work from home, etc. I respectfully declined, explaining how my friend works at the other company.
They were very gracious, and understood my motivations. At the end, they said to please keep them in mind for referrals should anyone else in my old company decides to quit.
I have no love for these people at the moment.
It’s not just that Microsoft, Apple, Google, and many others are pushing wokeness as far as anybody can, it’s that their employees are supporters of it and they’re the ones doing the lifting to get it done.
These employees/workers went woke - now, the workers go broke.
That phrase does NOT just apply to the corporation itself.
Maybe they should learn to code?
I graduated from college with an EE degree in June of 1970. Got my dream job out in southern California with an aerospace firm. Three months later, I got laid off. Not employed long enough to get unemployment. Went home to Wisconsin with my tail between my legs.
Oh, by the way, the government cut the funding to the aerospace industries to “spend the money on unemployment”!
This is already accelerating in my workspace. The "new" propeller-heads are manipulating complex learning algorithms and getting consistent and reliable code from repositories of product written by the humans that came before. Our teams are skeletons of what they were just a year ago and production is better overall. Less head-count, better product and output.
I need two years more to get out. I tell the HS kids to get jobs as electricians, plumbers, etc. The vocation business is hot. IT is shrinking. My 2 cents.
Seeing as how the focus is on going “ electric”, I would say e
Being an electrician is a better choice although plumbing is great too.
Our company has data analysts and all I see them do is post about their pets and call in sick, or announce that they’re taking days off. I predict a big reorg after this election.
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