Do you mean I probably won’t be able to pay off my student loans? I was assured a Phd in South Atlantic Lesbian Whale Studies would open all the right doors.
An opinion from a source many aren't keen on. But a read nonetheless.
A job-destroying economic vortex has just been unleashed: Large-scale layoffs will accelerate through 2023, impoverishing millions – NaturalNews.com
https://www.naturalnews.com/2023-01-10-job-destroying-economic-vortex-unleashed-layoffs.html#
A job-destroying economic vortex has just been unleashed: Large-scale layoffs will accelerate through 2023, impoverishing millions – NaturalNews.com
https://www.naturalnews.com/2023-01-10-job-destroying-economic-vortex-unleashed-layoffs.html#
Hippies may be good to know. They’ve been digging in the dirt for longer than anybody but your grandparents. You eventually won’t even notice the patchouli smell... just saying.
For 25+ years a tech startup is a scam until it isn't.
Take in money from deep-pocketed people based on connections and salesmanship of the idea.
You can make up numbers for addressable market and any other metric the investors want to see. After all, this is totally new stuff with no precedence or historical financial model.
Try to make the idea work. It may work, or it may not. The idea can be crazy as long as you sell it well.
If it works, you are golden.
If it kinda, sorta works, you may be able to sell out to an established company that will try to build on your work.
If it doesn't work, you try again with someone else's money.
Take in money from deep-pocketed people based on connections and salesmanship of the idea.
You can make up numbers for addressable market and any other metric the investors want to see. After all, this is totally new stuff with no precedence or historical financial model.
Try to make the idea work. It may work, or it may not. The idea can be crazy as long as you sell it well.
If it works, you are golden.
If it kinda, sorta works, you may be able to sell out to an established company that will try to build on your work.
If it doesn't work, you try again with someone else's money.
13th January
Alphabet Reportedly Seeks To Lay Off 10,000 Employees
(RTTNews) - Alphabet, Google's parent company, is planning to lay off nearly 10,000 low performing employees starting early 2023 amid investor demand to downsize and cut costs, according to a report by The Information.The tech major reportedly has asked managers to identify 6 percent of its staff using a new performance management system. This accounts for around 10,000 people. With the new ranking system, managers could find out its underperforming employees and push out thousands of lowest-ranked employees. The managers could also use the ratings to avoid paying staff bonuses and stock grants.
The news comes as activist investor Christopher Hohn, whose TCI Fund Management holds a $6 billion stake in Alphabet, recently urged the firm to cut jobs & salary expense, reduce losses in the Other Bets unit, and boost stock buybacks. In a letter to CEO Sundar Pichai, TCI Fund argued that compensation and headcount are too high compared to other tech firms, and that the business could be operated more effectively with significantly fewer employees.
Earlier, Google had announced that it will be slowing down the hiring process in the fourth quarter this year. At present, Alphabet employs around 1,87,000 employees.
Google's parent recently reported weak profit in its third quarter, below market estimates, hurt mainly by lower YouTube ad revenues. Revenues gained 6 percent, but missed Wall Street estimates.
Many major tech firms recently announced job cuts or hiring freeze amid the slowing growth, including Meta, Amazon, Twitter, and Microsoft.
Meta announced last week that it is laying off over 13 percent of its employees or more than 11,000 employees. Elon Musk's Twitter, following its $44 billion acquisition, laid off around half its workforce just days after the takeover, and still continues to fire employees.
In addition, Amazon last week said it has started to implement job cuts, starting with devices and services division, citing difficult economy. The company did not reveal the number of employees affected, but reports had said it was planning to lay off about 10,000 employees in corporate and technology roles.
In mid-October, Microsoft announced layoffs across multiple divisions, impacting fewer than 1,000 people, Axios reported citing a source.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Having worked in the tech industry, there are lots of workers from Russia, China, India, and others. They get in under H1B and their spouses get in under H2B. Why don't these go first?
I don't know, being from Seattle I have found many tech workers are utterly vapid worthless people. A lot of them cheered when I lost my job due to the vaccine. I hope they starve.
I don’t feel like it’s a large scale layoff sorta deal, it’s more of a restructuring. There’s so much fat to be cut in the industry, and so many people that either don’t want to work, or aren’t qualified for work that is profitable for the company. Most of these layoffs are in crypto, social media, or overly bloated internet based businesses like carvana. Companies hired a ton of people for internet/tech stuff during Covid, now they’re cutting the fat, and keeping who/what they need. I’ve seen it in other places, when the market is going up, they hire a ton of people to prepare for meteoric growth, and then when growth tapers off, they cut the workforce back to what they need for the new norm, keeping the ones that are worth keeping.
There’s still tons of openings in areas that require a lot of work, or require long term skills, like network administration and cybersecurity. That’s at least what I’m seeing.
There’s still tons of openings in areas that require a lot of work, or require long term skills, like network administration and cybersecurity. That’s at least what I’m seeing.
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