While economic downturns undoubtedly trigger workforce reductions, attributing all reshuffles and manpower reductions solely to recessions presents a limited perspective. The contemporary business landscape demands agility, forcing organizations to adapt to diverse factors beyond economic fluctuations.
Company restructurings, mergers and acquisitions, evolving consumer preferences, and industry disruptions all necessitate reevaluating staffing needs. For instance, a shift towards online retail might necessitate streamlining brick-and-mortar operations, impacting personnel in those areas. Recognizing these various drivers paints a more nuanced picture of workforce dynamics.
The potential impact of artificial intelligence on jobs is a topic of intense discussion. While automation will undeniably displace some roles, it's crucial to remember that new opportunities will also emerge. The key lies in adaptation and reskilling. Equipping individuals with the skills necessary to thrive in an AI-driven future is essential, ensuring they remain relevant and competitive.
Topic: Tech Layoffs - page 2. (Read 875 times)
This is a sign that the tech industry isn't what it used to be and that it's going to be the trend now that there's going to be less people doing jobs there because of automation and it's a sign for many young people to do trade school and learn something that's skill based like automotive maintenance, plumbing and maybe even hairdressing, with those trade skills, you won't have to worry too much about doing side hustles that will definitely see an increase in competition with these tech lay offs.
Yes, because in every job there are definitely layoffs, both in technology and industry, nowadays millennials are more interested in jobs that are more profitable with less risk, because technology is now more sophisticated than in the days of our youth, now millennials are more interested in working from home through the sophistication of gadgets, such as being a YouTuber, gamer, etc., because that way they don't feel pressured and no one can lay them off, because they work or make money from their own creative output without depending on the big boss. or the owner of the company so there is such a thing as layoffs. 
The argument makes no sense to me. Normally, job cuts go hand in hand with the closing of smaller locations. At least that has mostly been the case in the past. Opening smaller locations abroad or in new markets is more cost-intensive than opening/operating a few large locations.
lets use rockstar(GTA) as an example
when using american talent to design the new engines that will run GTA6, after the engines are complete they then put that team to other games or lay them off, replacing them with another team that do storyboards and missions. then they hire in temps/offshore freelancers as testers, bug fixers and support staff
it is not cost intensive to set up remote locations abroad. they just contract existing remote agency staff at rates far cheaper then paying a US developers
paying high talent dev salary to do support/testing is a waste of time and money for all businesses
However, there are also some tech companies that just want to limit their employees for lesser manpower and reduced salary, so that they can use that funds instead to open more branches in the different parts or areas in the world.
The argument makes no sense to me. Normally, job cuts go hand in hand with the closing of smaller locations. At least that has mostly been the case in the past. Opening smaller locations abroad or in new markets is more cost-intensive than opening/operating a few large locations.
Job losses in the tech sector continue. Snap announced today that it is laying off 500 employees, 10% of its total workforce.
https://www.cnbc.com/2024/02/05/snap-to-lay-off-10percent-of-global-workforce-around-500-employees.html
It may partly be due to AI, but no one can really replace human workers when it comes to logic and problem solving. Sure, AIs can do a lot of specialized tasks more efficiently and timely, but hurdles along the way are only solved by humans with enough experience in the field. AI is still in its infancy, and I don't think that's the reason for the job cuts in the tech industry. They may have just overestimated their needs at a given time in order to stay profitable, and found out that they can make do without X percent of the workforce and still produce the same results for more profits.
AI continues to improve and make good developments but no matter how advanced it is, it’s undeniable that human workers presence are still very vital when it comes to any kind of workforce. Although it could be partly true as you’ve said, but I guess it’s more on the remained impact from the previous pandemic wherein a lot of big companies have eventually closed, and it also adds to it the current negative economic condition of the country in general. However, there are also some tech companies that just want to limit their employees for lesser manpower and reduced salary, so that they can use that funds instead to open more branches in the different parts or areas in the world.
same reason why meta decided to go all in with metaverse but failed miserably anyway,
meta failed miserably with the metaverse because they just threw together a gimmick. they didnt go all-in
they could have created a proper universe where people could lease VR space to design a VR store that promotes goods which then when bought in VR, a real world product is delivered to peoples real world home.
where its like a fully interactive shopping mall and entertainment center where people can VR earn credit via operating as customer service support or sales people and create a circular economy inside metaverse..
instead it just turned into a cartoon character social chat space
..
many web3 supposed tech has yet to be discovered/utilised so getting rid of some web2 deadwood may make way for more web3 development yet to be seen
Tech companies are like eager students in a fast-paced classroom, constantly upgrading their skills to keep up with the latest trends. With the rise of AI and automation, they're finding ways to work smarter, not harder. This means some roles might become redundant as tasks get automated, leading to job cuts but it's not just a COVID-19 aftermath because it's a shift towards efficiency and innovation that's shaping the tech landscape for the long haul. So, while it might seem like a setback now, it's part of the ongoing evolution of the industry right
i think that the fact that there are less customers after covid pandemic has ended also have some roles. when covid hits everyone was so focused on online and digital stuff that they just subscribe to whatever online entertainment there is, company thinks that this growth will lasts forever, same reason why meta decided to go all in with metaverse but failed miserably anyway, they thought the future is all 100% digital but its really isnt.so many people are getting back to their normal routine after pandemic ends, abandoning any digital service that they subscribed previously, companies realized it, the fact that they have made some massive hiring doesn't help either since the number of customers tanks. then they realized that they need to make things efficient as you said fueled with AI.
its overall really bad situation with finding job these days.
many businesses have regular events of turn-over, employee churn, removing the dead wood..
when one project finishes that specialises in certain skill, its time to move to the next project that might need a fresh mind.
yes AI makes things easier. people dont need to write 1000's of lines of code. they just type in a few descriptions of the end result they want and AI writes code for them. then they just need to refine/tweak it
google always did turn-over employee's often. if people were great at one project but not productive at the next, google doesnt keep them around forever, and projects dont continually need a full team of developers forever. its a system of get a finalised product and then move to next project, whereby only a few % stick to old project for updates
we are no longer in the era where people stay in the same job for 40 years
when one project finishes that specialises in certain skill, its time to move to the next project that might need a fresh mind.
yes AI makes things easier. people dont need to write 1000's of lines of code. they just type in a few descriptions of the end result they want and AI writes code for them. then they just need to refine/tweak it
google always did turn-over employee's often. if people were great at one project but not productive at the next, google doesnt keep them around forever, and projects dont continually need a full team of developers forever. its a system of get a finalised product and then move to next project, whereby only a few % stick to old project for updates
we are no longer in the era where people stay in the same job for 40 years
Not a day goes by without a tech company announcing major job cuts. Today Paypal and Block (both payment service providers) have announced a total of 3500 job cuts, and recently Salesforce, Microsoft, SAP, Google, Ebay etc. have also done so. According to https://layoffs.fyi, 25,000 documented tech jobs have already been cut this year.
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
Computer Science is receiving quite the heavy beating in the corporate world, with it being one of the most vulnerable tech careers nowadays. It's gone so worse that even my friends who were comp sci graduates regretted that they ever listened to people who said it's going to be one of the best careers in 2 years time, cause now they're stuck in a rut where they're given what's basically the art degree of the IT sector. What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
Also sucks that major gaming companies like Activision-Blizzard and Riot Games have started laying off a large portion of their workforce. Riot Games being the most talked about as it started to let go of 11% of its total employees, some of which are actively involved in the production of their games and some of their future titles. Future's not looking bright for the tech world unless you're from the webapp development industry in which case I don't think you should be worried as the industry's still going strong. What I would really suggest to people who were under these situations right now and are worrying about their job and financial security is to learn new skills related to IT, not because you're going to drop Comp Sci or whatever, but because it will better equip you and provide you with the tools you need to still stay afloat even when the rest of your world is burning. Makes total sense yeah?
Not a day goes by without a tech company announcing major job cuts. Today Paypal and Block (both payment service providers) have announced a total of 3500 job cuts, and recently Salesforce, Microsoft, SAP, Google, Ebay etc. have also done so. According to https://layoffs.fyi, 25,000 documented tech jobs have already been cut this year.
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
So many tech company employ a lot of staffs druing corona and that was because the need to work remotely was very necessary, I'm not sure if there is any company that has not resume back to physically work fully except for experts that are needed remotely to perform jobs and judging by these numbers of job cuts, it's the remote jobs that are been cut off from the grid system and people that are left has to do the work of those jobs that were cut off just like the way Elon Musk did when he took over X(formaerly X).
AI might not really be the ones taken over these jobs, I still think it's too early for the artificial intellingence to take over so many jobs in these numbers, machines can't solve everything, there are still aspect of human that will be require to finish the job and I also think that AI are still in early phase to accomplish task efficiently. Even looking at some of the AI written works I have seen, it is force and not close to what human can do with many errors that can be easily detected by human, no way AI can replace human completely.
Not a day goes by without a tech company announcing major job cuts. Today Paypal and Block (both payment service providers) have announced a total of 3500 job cuts, and recently Salesforce, Microsoft, SAP, Google, Ebay etc. have also done so. According to https://layoffs.fyi, 25,000 documented tech jobs have already been cut this year.
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
So many tech company employ a lot of staffs druing corona and that was because the need to work remotely was very necessary, I'm not sure if there is any company that has not resume back to physically work fully except for experts that are needed remotely to perform jobs and judging by these numbers of job cuts, it's the remote jobs that are been cut off from the grid system and people that are left has to do the work of those jobs that were cut off just like the way Elon Musk did when he took over X(formaerly X).
AI might not really be the ones taken over these jobs, I still think it's too early for the artificial intellingence to take over so many jobs in these numbers, machines can't solve everything, there are still aspect of human that will be require to finish the job and I also think that AI are still in early phase to accomplish task efficiently. Even looking at some of the AI written works I have seen, it is force and not close to what human can do with many errors that can be easily detected by human, no way AI can replace human completely.
Not a day goes by without a tech company announcing major job cuts. Today Paypal and Block (both payment service providers) have announced a total of 3500 job cuts, and recently Salesforce, Microsoft, SAP, Google, Ebay etc. have also done so. According to https://layoffs.fyi, 25,000 documented tech jobs have already been cut this year.
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
Downsizing is something that is very necessary in every organization especially when it is recommended as a way to enable the company remain relevant and successful. Most times it happens naturally, but at times there are some unforeseen circumstances that globally induce downsizing such as the covid-19. But I have something to say, if a random company is downsizing we could see it as a normal thing but if a tech company is downsizing, it shouldn't be seen as a normal thing because something is definitely wrong somewhere. What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
It is not all about the advent of the AI and it is not also an indication that AI is taking over the position of man in the company. Even if anyone has to allege that, they might not be completely out of order. But when downsizing comes to take company I think something else is a major factor and not AI. What I consider as the major factor is the freelancing. While there are many people who are interested in working and earning without committing 100% to a particular company. It encourages the companies to dismiss their original staff such as to get rid of some certain expenses that is being attached to staff permanency. Hire a random person and get him paid than hire one person, pay him and still owe him other gratuities.
I don't know where you work but where I work I have no tap wine available, no foosball table, no yoga and I can't go out to drink tap wine while I relax looking at the sky during work hours. That video is not the only one, there were several videos of that style at that time. The original is no longer there and I guess the author ended up deleting it after being fired. Musk fired 6,000 people or 80% of the staff, so what you see in the video is a true reflection of what was happening.
Obviously in the companies where I work there's no tap wine, football table, quiet place etc too. 
But what I mean is, we can create a video about the bright side in our working place even though not as fancy as Twitter's company.
It's weird to be honest, why they need to hire people just for come to their company, enjoy the facilities and get paid for that?
They had to make the working conditions as well as they could, giving people whatever they think would fit them, and there was a moment where some companies even had "sleeping pods" where coders would go sleep and come back to work. That's why I think it's quite important to figure that out, if you want talent, do not give them gifts, give them the freedom and they will keep working for you, plus of course a competitive salary.
Yes that jobs report was a huge surprise. The average earnings was crazy high and so was the amount of jobs added. Both were way over expectations and as a result the bond market tanked.
At one point the bonds were down 4% or so which is crazy volatile for such a deep liquid market, shows how much whipsaw there is in treasuries.
At one point the bonds were down 4% or so which is crazy volatile for such a deep liquid market, shows how much whipsaw there is in treasuries.
meanwhile in the US.. hobby earners(side hustles) now have to declare hobbies as businesses
fudging the numbers
(image is from stompix's own chosen link, so he cant cry about picking source when it was his source he picked)
this january is not as good as last january.. so not numbers to be proud of
also the source of stompix's chosen article
declining hours meaning less full timers more part timers
fudging the numbers
(image is from stompix's own chosen link, so he cant cry about picking source when it was his source he picked)
this january is not as good as last january.. so not numbers to be proud of
also the source of stompix's chosen article
Quote
The average workweek for all employees on private nonfarm payrolls decreased by 0.2 hour to 34.1 hours in January and is down by 0.5 hour over the year. In manufacturing, the average workweek was unchanged at 39.8 hours, and overtime edged down by 0.1 hour to 2.7 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls decreased by 0.2 hour to 33.5 hours. (See tables B-2 and B-7.)
declining hours meaning less full timers more part timers
And another crisis died before it even got started
https://www.cnbc.com/2024/02/02/us-economy-added-353000-jobs-in-january-much-better-than-expected.html
Where were we, late stage capitalism or something?
https://www.cnbc.com/2024/02/02/us-economy-added-353000-jobs-in-january-much-better-than-expected.html
Quote
Nonfarm payrolls expanded by 353,000 for the month, better than the Dow Jones estimate for 185,000. The unemployment rate held at 3.7%, against the estimate for 3.8%
Average hourly earnings increased 0.6%, double the monthly estimate. On a year-over-year basis, wages jumped 4.5%, well above the 4.1% forecast.
Job growth was widespread in January, led by professional and business services with 74,000. Other significant contributors included health care (70,000) and retail trade (45,000).
Average hourly earnings increased 0.6%, double the monthly estimate. On a year-over-year basis, wages jumped 4.5%, well above the 4.1% forecast.
Job growth was widespread in January, led by professional and business services with 74,000. Other significant contributors included health care (70,000) and retail trade (45,000).
Where were we, late stage capitalism or something?
Maybe they have figured out something that the company still keep on working even with the lay offs. It could also be that some other job and activities maybe easily done with the use of AI technology. This is now the new trend companies tried to shorten or lessen expenses on manpower that is prone to human errors and replace 'em with the accurate and faster Artificial Intelligence. Some sort of unemployment risk right?
Every company that has cut working relations with their employees has certainly found other options that can complete the work done by their employees with other things and it is more profitable to use this technology compared to using many employees which makes the company spend more to pay their employees, intelligence Man-made intelligence currently really supports today's world of work, so companies prefer to use human-made intelligence rather than humans, especially which is very difficult to regulate and requires high costs, very different from using human-made intelligence which they can manage precisely and with very few errors. 
Not a day goes by without a tech company announcing major job cuts. Today Paypal and Block (both payment service providers) have announced a total of 3500 job cuts, and recently Salesforce, Microsoft, SAP, Google, Ebay etc. have also done so. According to https://layoffs.fyi, 25,000 documented tech jobs have already been cut this year.
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
Poor sales by those companies which is due to drop in purchasing power of their customers prompted the downsizing of their workforce, I don't think AI influence was responsible for their decision to lay off, of course when the global economy pick up majority of those companies would start another round of recruitment into various positions, meanwhile Tech jobs are one of the most sought after profession presently so I believe in no distant future all the lay off staff would definitely get a new job offer as I am aware that there many Tech start up springing out globally this would also provide job opportunities for the sacked workers. What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
Maybe they have figured out something that the company still keep on working even with the lay offs. It could also be that some other job and activities maybe easily done with the use of AI technology. This is now the new trend companies tried to shorten or lessen expenses on manpower that is prone to human errors and replace 'em with the accurate and faster Artificial Intelligence. Some sort of unemployment risk right? 
Not a day goes by without a tech company announcing major job cuts. Today Paypal and Block (both payment service providers) have announced a total of 3500 job cuts, and recently Salesforce, Microsoft, SAP, Google, Ebay etc. have also done so. According to https://layoffs.fyi, 25,000 documented tech jobs have already been cut this year.
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
What do you think? Is it just a shrinkage and normalization after the strong build-up of the workforce during Corona or a long-term trend that will accelerate through the use of AI?
The new tech market is being saturated. Smartphone and internet are now available to almost everyone. Social media too are saturated, the growth of facebook and x is stagnant. There's some growth potential in Africa but most of it is already covered. Online shopping is also covered and there are not much to grow.
With the emergence of AI, many job positions are obsolete. Robots are delivering and AI is running taxis. The economic slowdown quickened the replacement of human with automation, robots and AI.
This is a long term trend. The demographics is also on a down trend. The current generation might have some problems coping with change in jobs but the replacement of AI and robots are good for the future of humankind.
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