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Seems like 2023 isn't looking so hot. Here's the thread for stock market and federal reserve number stuff My company did 2 separate layoffs this year "in anticipation of deterioriating macro-economic conditions" and I've seen posts in various other threads about cost-cutting and layoffs right before Christmas so post here about what's goin' on in your neck of the woods or elsewhere. https://twitter.com/ClayTravis/status/1603080894553677826 https://twitter.com/imduffy15/status/1604070471376535554 https://twitter.com/rafaturk/status/1602478615639244808 https://twitter.com/philippilk/status/1604102726320885760
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Dec 17, 2022 17:30
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Philadelphia fed are pumping out numbers that do not corroborate the federal fed numbers https://twitter.com/zerohedge/status/1603476265960411143 (source report in article) Another article from someone with less followers than zerohedge if you don't like zerohedge
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Dec 17, 2022 17:35
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My friend works for a medical company in Austin and there was suddenly a huge round of layoffs with no warning, managers included. And a rumor of another round of layoffs in April. Another big recession is coming.
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Dec 17, 2022 18:27
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no big layoffs at my place yet but the hiring freeze cost cutting dance is in full force
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Dec 17, 2022 18:28
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Koishi Komeiji posted:My friend works for a medical company in Austin and there was suddenly a huge round of layoffs with no warning, managers included. And a rumor of another round of layoffs in April. Another big recession is coming. I do contract work for a very large medical testing company in CA and while they're still hiring for tech/lab staff, they've been ripping apart most of their non-tech office personnel for about two months now. edit- hard to tell if things are actually bad for them or if this is just some kind of "we only need lab techs and programmers and want to close all of our physical offices" move though Paradoxish has issued a correction as of 18:36 on Dec 17, 2022 |
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Dec 17, 2022 18:33
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Koishi Komeiji posted:My friend works for a medical company in Austin and there was suddenly a huge round of layoffs with no warning, managers included. And a rumor of another round of layoffs in April. Another big recession is coming. Koishi Komeiji posted:Another big recession is coming. Koishi Komeiji posted:Another  I feel like the 80s, 90s, 00s, and 10s are coming to a head and the 20s are gonna be shiiiiiiiiiiiiiiiiiiiiiiiiiit seems like 1920-1933 germany was simply the any% practice speedrun which resulted in their (relative) crushing years later and this is the 100% go slow attempt
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Dec 17, 2022 18:33
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I was there for the WaPo meeting, it was really fun and I'm excited for q1
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Dec 17, 2022 22:14
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is it easier to weather a recession in the public sector, academia etc? is there a delay in impact compared to private industry?
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Dec 17, 2022 22:51
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mawarannahr posted:is it easier to weather a recession in the public sector, academia etc? is there a delay in impact compared to private industry? yeah def, feds don't really do mass layoffs
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Dec 17, 2022 22:53
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depends on the funding model. government agencies get funded based on what congress or state legislatures decide to give them in the budget, so layoffs only happen when those budgets get cut. local governments that get a bunch of their money from sales taxes would probably get their legs cut out from under them though.
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Dec 17, 2022 23:22
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If you are part of a federal sector that has been there for a long time it'll probably stay for a long time. If your agency or sector is based off the newest batch of funding sources then eeeeeeehhhhh~
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Dec 18, 2022 00:24
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mawarannahr posted:is it easier to weather a recession in the public sector, academia etc? is there a delay in impact compared to private industry? federal agencies yes, state and especially local can be a lot more dicey
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Dec 18, 2022 00:33
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While I was at the Department of Energy no one had any idea if they'd have a job in a month because their jobs were political footballs in the budget. But if you're defense you're fine
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Dec 18, 2022 00:37
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Tom Tucker posted:While I was at the Department of Energy no one had any idea if they'd have a job in a month because their jobs were political footballs in the budget. I would like to learn more.
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Dec 18, 2022 02:40
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My current work/contract made it clear I will not be getting renewed in march lmao. Aerospace industry bayyyybe
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Dec 18, 2022 03:11
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I heard it from the grapevine that Zoom is starting a "responsible spending" initiative involving cutting "non-essential expenditures" and there's already been a first wave of layoffs, and they're shutting down nearly all of their offshore offices
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Dec 18, 2022 03:11
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gradenko_2000 posted:I heard it from the grapevine that Zoom is starting a "responsible spending" initiative involving cutting "non-essential expenditures" and there's already been a first wave of layoffs, and they're shutting down nearly all of their offshore offices are they gonna start charging for zoom ?
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Dec 18, 2022 03:31
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I work in manufacturing and deal with contractors that service the southeast and northeast US and they all have anecdotes of expansion and investment. The supply chain issues cleared up but it's still impossible to get most machinery. Our company has dramatically increased it's own spending in manufacturing. Not receiving components and inputs scared a lot of people so there seems to be a focus on regional supply chains rather than global ones. We switched suppliers on quite a few things at all of our facilities. We have had layoffs in our sales force mostly. I'm unsure of where they would spread next since the manufacturing sector here is treated like a morlock underclass. Most of our waste is in a giant C Suite of entire teams of extremely overpaid executives that do nothing and are never present but if they are the ones deciding which costs to cut they will probably fire the workers at our smallest facility to consolidate at one of the two larger ones. Any dealing I've had with the $200,000+ salary range people has shown they are dumb as poo poo and use their authority to shout down people and declare their dumb loving ideas are law. Rectal Death Adept has issued a correction as of 03:41 on Dec 18, 2022 |
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Dec 18, 2022 03:38
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mawarannahr posted:are they gonna start charging for zoom ? Zoom already requires that you have a subscription if you want to run meetings for longer than 40 minutes at a time, afaik
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Dec 18, 2022 03:39
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we got approval to hire new positions (that is, not backfilling old ones) on my team for next year so my hope is that if there is a contraction then they'll just not fill those roles instead of cutting people. who knows!!!
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Dec 18, 2022 03:43
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what i've been hearing in my computer toucher social circles is LIFO good luck to anyone that was hired during COVID you could probably fire 30-50% of employees in most tech companies/startups and still have more headcount than you did prior to COVID
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Dec 18, 2022 03:48
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gradenko_2000 posted:Zoom already requires that you have a subscription if you want to run meetings for longer than 40 minutes at a time, afaik also their webinar licenses are insanely expensive
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Dec 18, 2022 03:51
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I wonder if any of the mods will lose their jobs. Be a drat shame if they consolidated some of the forums.
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Dec 18, 2022 03:53
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Man this video is exactly how a town hall at my current company went a few months ago. They dropped on us out of nowhere that there would be paycuts across the board and that we were losing our floating holidays and just dipped with a "we wont be taking questions at the time" and immediately closed the zoom call lmao
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Dec 18, 2022 03:55
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gradenko_2000 posted:I heard it from the grapevine that Zoom is starting a "responsible spending" initiative involving cutting "non-essential expenditures" and there's already been a first wave of layoffs, and they're shutting down nearly all of their offshore offices in hindsight.... uhh that was probably a warning sign lol
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Dec 18, 2022 03:55
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We had a preemptive 2 weeks before announcement for layoffs at the spot im at back in like late 2019 and our meeting was similar and a ton of the questions were around how could we make sure our coworkers were keeping our jobs and they were like "we literally don't have enough work, do you want people to just sit around? do you think they would enjoy that" and everyone was like "WELL THEYD CERTAINLY LIKE TO BE PAID" employee owned coop so at least some executives actually did eat it and they took pay cuts. as IT i see all the ins and outs and I was absolutely loving pissed when hiring kicked up again like a month later and it was like jesus loving christ seriously. like whiplash.
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Dec 18, 2022 03:58
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shrike82 posted:what i've been hearing in my computer toucher social circles is LIFO i think LIFO is something concerning the legality of mass layoffs to protect long-time workers. a quick search shows some states require it for teachers, not sure how far it goes
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Dec 18, 2022 03:59
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would be surprised if that's a factor for tech the other quirk is how much of the overhiring was in new divisions or in offshore locations - which conversely makes it easier to do concentrated layoffs
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Dec 18, 2022 04:05
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do layoffs tend to pick up after holidays?
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Dec 18, 2022 04:09
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mawarannahr posted:do layoffs tend to pick up after holidays? I don't think it's a tradition or anything. The holidays are just an excuse for a giant month long vacation for most executive teams and then the new year brings tax time and some fiscal year ends when money moves are more likely to happen. Once a new year has started and numbers can be run on the last one then you'll see moves be made by some $500,000 vice president fresh off of a 6 week vacation ready to shift some paradigms. If the economy is as terrible as everyone thinks and we are headed for a serious recession then it'd be primarily cost cutting and layoffs.
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Dec 18, 2022 04:37
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https://twitter.com/ID_AA_Carmack/status/1603931899810004994?s=20&t=Brit3BTuwnMXNHWe1WEzGg I used to work at Meta, not with John. But he is 100% on the money about what's killing things on the inside. The glut of people,cash and resources is absolutely a hindrance to these big tech places. Everyone including myself for the time I worked there is constantly trying to prove that they are worth keeping and that others should take the fall before them. There is a lot of internal agony over "AI" just automating everyone away from their jobs. So you get people buying huge amounts of stuff just to seem like they are doing something important or people hiring dozens of people to put between them and lay off time. I've heard the exact same thing from friends who had worked at Google or Apple. No one really does anything but build their own little feudal kingdom under Mark, Tim or Elong.
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Dec 18, 2022 15:50
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Throb Robinson posted:https://twitter.com/ID_AA_Carmack/status/1603931899810004994?s=20&t=Brit3BTuwnMXNHWe1WEzGg the amount of institutional rot that piles up in these organizations is incredible but not surprising given the amounts of cash being thrown around.
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Dec 18, 2022 15:57
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speng31b posted:the amount of institutional rot that piles up in these organizations is incredible but not surprising given the amounts of cash being thrown around. Now imagine the DoD.
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Dec 18, 2022 15:58
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My org laid off a group of people this fall that collectively had an outsized 100s of years experience and expertise not to speak of close customer relations and all that. I can’t know for sure but it has to be a stack ranking of salary and they just picked the top ones, resulting in a lot of the senior folks that had been there forever getting cut. All because we missed some marks because of supply chain poo poo. It’s a tale as old as time but maybe don’t throw away some of the people who literally move the entire business along for a few better quarters?
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Dec 18, 2022 16:50
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Throb Robinson posted:I used to work at Meta, not with John. But he is 100% on the money about what's killing things on the inside. The glut of people,cash and resources is absolutely a hindrance to these big tech places. Everyone including myself for the time I worked there is constantly trying to prove that they are worth keeping and that others should take the fall before them. There is a lot of internal agony over "AI" just automating everyone away from their jobs. So you get people buying huge amounts of stuff just to seem like they are doing something important or people hiring dozens of people to put between them and lay off time. It's a really good strategy for all these tech firms because your workers will never develop any solidarity with one another when they're all competing. Also lol at working for facebook.
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Dec 18, 2022 21:54
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Got laid off at my last job over the summer, new job just had an impromptu Zoom Town Hall with no chat, no viewers list, voice disabled to let everyone else know they were safe and that was it. This was about 90 minutes after everyone had figured out there were layoffs because random people were just showing as "deactivated" in Slack.
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Dec 18, 2022 23:05
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Gabagool posted:Got laid off at my last job over the summer, new job just had an impromptu Zoom Town Hall with no chat, no viewers list, voice disabled to let everyone else know they were safe and that was it. This was about 90 minutes after everyone had figured out there were layoffs because random people were just showing as "deactivated" in Slack. Last company I was at did layoffs by summoning each person one by one into this basement room we jokingly called the murder dungeon because it was barren except for a splintery wood table, lit with Edison bulbs and totally soundproofed. When they were each laid off they were escorted out a back staircase so you'd just see people going down there one by one and disappearing throughout the day until the office was 80% empty CEO of that company went on to do a bunch of TEDx talks and get really into MMA
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Dec 18, 2022 23:17
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I’m pretty uncertain about my job but who knows. Worked for a smaller company that sold to a multinational in 2020 and the multinational just went private with a private equity group back in October We’re horrendously understaffed and going into the third reorg in less than a year and I kind of anticipate they’ll just drop the product I work on entirely It’s a pretty lovely feeling because I’m pretty overpaid and there no way I can make close to what I do now in my field without doing something miserable and impossible like trying to break into the big four in my forties lmao
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Dec 18, 2022 23:39
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must be a tough year to be a twenty-something techbro that's encountering layoffs and investments in the red for the first time in their career
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Dec 18, 2022 23:55
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I've been through a whole loving slew of layoffs in the last few years due to the 737max crashes just murdering the industry that feeds boeing but my favorite/most horrifying was: We got a warning 2 weeks before the lay off because they wanted to be nice??? idk. Anyway, it was like the grimmest atmosphere ever and as each day approached you'd see open liquor bottles on peoples desks and poo poo. We all went out and just got loving ripped mid day a few times. The night before I got a call that one of my (admittedly lovely) coworkers who ran a specific building was getting the axe so i'd need to go in the morning of and train another person we were throwing into that spot as a hold over. So I get there, I turn everything on and I have this sinking loving pit in my stomach. Get the person settled in and at like 8:30 i make our way over to our main building and there's seagulls eating puke in the parking lot. Just tons of seagulls and puke. And I have the realization im probably getting fired to. I just sit there for a while watching the seagulls. I make my way through the fence to the hangar and I walk in and... they're like clapping people out with their piles of poo poo in their boxes. The company had a tradition of clapping retirees and stuff. old company so a lot of weird quirks. So they're clapping people out one by one. I think like 40 people out of 200 got let go. And I walk up to my boss and I'm like "uhhhh" and he's like "oh you are good" and I think I just started crying because the whole morning was so stressful. We lost over half our specific service desk IT team. silicone thrills has issued a correction as of 03:50 on Dec 19, 2022 |
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Dec 18, 2022 23:56
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