Tech Layoffs Coming Tidal Wave - The Tracker

[SlugSlinger]

Dell to lay off 6,650 workers, or 5% of its workforce​

PUBLISHED MON, FEB 6 20238:49 AM

Dell on Monday announced plans to lay off more than 6,650 employees, or about 5% of its workforce, according to an SEC filing.

• In a memo to employees, Jeff Clarke, co-COO at Dell, said the cuts were made in an effort to “stay ahead of downturn impacts.
• Clarke said the changes Dell had already implemented, like limiting travel, pausing external hiring and reducing outside services spending, were no longer sufficient.

 

[SlugSlinger]

Powell: Jobs Report Points to Need for Higher Rates​

Federal Reserve Chairman Jerome Powell said Tuesday very strong jobs data released last week simply affirms that the central bank has some way to go on raising rates.
When it comes to Friday's release of the January jobs data, “we didn’t expect it to be this strong,” Powell said.

While declining to say whether knowing about the vigor of the data would have affected last week's 25 basis point rate rise, Powell said the data “shows you why this will be a process that takes a significant period of time," when it comes to tightening monetary policy.

Powell said the Fed has some distance left to run in terms of shrinking its balance sheet.

"We haven’t put a specific target on it” when it comes to where the balance sheet run down stops, Powell said.

"It will be a couple of years" before reaching the right level of banking sector reserves, Powell said, adding selling bonds rather than allowing them to run off passively is "not something on the list of active things” officials are considering.

 

[El Pablo]

We still keep developers for application maintenance , application security analysts and as SME's , QA/ QC So much of that H1B coding has to be put into the rework bucket on any given project , we still use them because well they work cheap not because they are better.

Yeah, I spent 8 years in consulting fixing the off shore and h1b work. H1b is a lottery, not best and brightest, as you well know.

 

[SlugSlinger]

Exclusive: Yahoo to lay off more than 20% of staff as it shrinks ad biz​

Yahoo plans to lay off more than 20% of its total workforce as part of a major restructuring of its ad tech unit, executives told Axios. The cuts will impact more than 50% of Yahoo's ad tech employees — more than 1,600 people.

 

[SlugSlinger]

Affirm Cuts 500 Employees, 19% of Its Workforce​

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Buy now, pay later company expects up to $39 million in restructuring costs

 

[SlugSlinger]

Zoom to lay off 1,300 employees, or about 15% of its workforce​

 

[SlugSlinger]

Ebay to lay off 500 employees​

 

[Letfreedomring]

My company announced it plans to layoff indirect workers while at the same time hiring direct labor workers. Sounds like a lot of fat trimming going on around the nation. Can't say I didn't see it coming.

 

[Letfreedomring]

https://www.google.com/amp/s/www.cnbc.com/amp/2023/03/09/gm-buyouts-us-salaried-workers.html

 

[CHenry]

Another reason I retired, my job at the state was never in jeopardy of a lay off, but it was getting slow and boring.