The tech job recession is over

[csrcsr]

• Tech companies laid off more than 300,000 employees in the first half of 2023.
• Bernstein tech analysts have been tracking monthly job cuts across the industry.
• This week, the analysts officially ended their updates. 
• https://www.businessinsider.com/the-tech-job-recession-is-over-when-will-hiring-reaccelerate-2023-8?amp

[HEROO]

you are tech_patel of this db anna

[Manishican]

Most tech companies increased their workforce almost 30% during covid times. No more recession and layoffs

[csrcsr]

4 minutes ago, Manishican said:

Most tech companies increased their workforce almost 30% during covid times. No more recession and layoffs

Vachava anna waiting for your post 😀

[futureofandhra]

9 minutes ago, csrcsr said:

• Tech companies laid off more than 300,000 employees in the first half of 2023.
• Bernstein tech analysts have been tracking monthly job cuts across the industry.
• This week, the analysts officially ended their updates. 
• https://www.businessinsider.com/the-tech-job-recession-is-over-when-will-hiring-reaccelerate-2023-8?amp

interviews ki ready avacha antava inka

[VictoryTDP]

5 minutes ago, Manishican said:

Most tech companies increased their workforce almost 30% during covid times. No more recession and layoffs

Did any of your friends get 3rd or 4th?

[csrcsr]

4 minutes ago, futureofandhra said:

interviews ki ready avacha antava inka

Mana jobs ki always interviews ki ready undali anna , there is no muhurtham or time, but undamu adi different story

[kevinUsa]

Tech layoffs have declined significantly—could this mark the end of the tech job recession?

Yahoo

 

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Fortune

Tech layoffs have declined significantly—could this mark the end of the tech job recession?

Kylie Robison

Thu, August 17, 2023 at 12:39 PM EDT·3 min read

 

Abraham Gonzalez Fernandez/Getty Images

Hi folks, Kylie Robison with the tech team here. Today, I'm thinking about how quickly time flies.

 

In 2021, there were tales of wily software engineers juggling multiple remote jobs, while Meta and Google engaged in an arms race for top talent, turning mere idleness into a high-six-figure endeavor. The Coronavirus pandemic ended up being a money-printing machine for much of corporate America, with 52% of companies seeing a bigger profit in November 2020 than the year prior, Axios reported. Then there was the Great Resignation—workers quitting their jobs in pursuit of fatter paychecks—which now appears unheard of amidst the seismic upheaval of nationwide layoffs.

 

Meta has since let go of more than 20,000 employees, Google laid off 12,000, Microsoft cut 10,000, Amazon reduced its workforce by 19,000, and Elon Musk downsized Twitter's staff by over 80%—a true industry-wide shakeup. If you're not familiar with Austin Nasso, a comedian known for roasting techies, his joke about being a Meta employee is right on the money, no pun intended.

 

"Everybody's getting laid off one by one, when I joined Meta in September 2021 I was making like 550k total comp now it's down like 265k, I don't even know how I'm gonna afford the mortgage payments on my tiny home in Tahoe," he said in an Instagram Reel. "They promised me haircuts. They said free food. They said I could code for 30 minutes a day, but now I just feel like every thing is going to and they say Zuckerberg is replacing us with large language models!"

 

Indeed, the era of tech employees reveling in minimal effort for maximal gains appears to have run its course. I once attempted to write an article about this, sparked by a Salesforce staffer who drunkenly confessed to me at a San Francisco party that he does no work but still gets so much money. However, when dawn sobered his perspective, he wasn't eager to resurrect that anecdote for an article in Fortune.

 

While those days seem to be over for most, and techies scavenge for whatever free office snacks they can still find at whatever offices haven't been shuttered, a new trend appears to be taking shape. Tech layoffs are tapering off, now at their lowest since February 2022, according to Layoffs.fyi, a website that has dutifully tracked tech layoffs over the pandemic. What's more, Insider reported that tech analysts at Bernstein Research, who tracked industry layoffs every month for about a year, have now officially ended this data series and claimed that "The Tech Job Recession is Over" in a recent email to clients.

 

The final curtain may not have completely descended on tech layoffs—Niantic, Discord, and Salesforce all handed out pink slips this month. But given how many tech giants sought to rip the band-aid off earlier this year by eliminating thousands of workers from their payrolls, it's possible that the worst of the tech job recession is behind us. Also, as Insider pointed out, OpenAI has 60 open roles as of Tuesday. Then there's the obscene $900,000 A.I. gig at Netflix that made its rounds. Could A.I. turn out to be the very lifeline that preserves engineers' livelihoods, instead of replacing them? That would be an ironic twist!

 

Here’s what else is going on in tech today.

 

Kylie Robison

 

Want to send thoughts or suggestions to Data Sheet? Drop a line here.

 

This story was originally featured on Fortune.com

 

[dasari4kntr]

28 minutes ago, csrcsr said:

• Tech companies laid off more than 300,000 employees in the first half of 2023.
• Bernstein tech analysts have been tracking monthly job cuts across the industry.
• This week, the analysts officially ended their updates. 
• https://www.businessinsider.com/the-tech-job-recession-is-over-when-will-hiring-reaccelerate-2023-8?amp

may be a silence before storm...?

[r2d2]

but here comes the hiring freeze… should be ok for contractors…

[csrcsr]

3 minutes ago, dasari4kntr said:

may be a silence before storm...?

Not sure bro cost cuts in other ways chestunaru like contractors, cautious hiring , new product initiatives kuda slow

Inka hiring avuthe start kaale only layoffs slowed down , yaa year end budgets lo emina theda vasthe malli start emo jan and Feb lo we have to see

[Vikkask]

We wont see lot of job cuts but most of the companies are in hiring freeze mode & will continue to be. I think AI orgs will hire.

2020/21 tc offers kooda undavu

[Variety_Pullayya]

33 minutes ago, csrcsr said:

Mana jobs ki always interviews ki ready undali anna , there is no muhurtham or time, but undamu adi different story

monna interview ki vella. i was shocked with coding questions. they are asking stuff that needs some thinking and expect you to come with solution in minutes. poni ila chestha ani explain chesina vintamledu...have to compile anta 

have to start leetcode now  

[pandu123b]

definitely started seeing more linkedin profile hits and requirement messages since last week. good for all of us.

[csrcsr]

5 minutes ago, Variety_Pullayya said:

monna interview ki vella. i was shocked with coding questions. they are asking stuff that needs some thinking and expect you to come with solution in minutes. poni ila chestha ani explain chesina vintamledu...have to compile anta 

have to start leetcode now  

Oh this has been practice for  long time anna , code signal, coderpad etc they have predefined test cases which have to get executed, can track when you are in inactive window too,  gone are the days where I will tell approach etc