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The Water Cooler
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Tech Layoffs Coming Tidal Wave - The Tracker
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<blockquote data-quote="HoLeChit" data-source="post: 3947457" data-attributes="member: 35036"><p>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. </p><p></p><p>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.</p></blockquote><p></p>
[QUOTE="HoLeChit, post: 3947457, member: 35036"] 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. [/QUOTE]
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