Tech layoffs are overblown. It's Silicon Valley titans like Meta and Twitter that were already bloated and went on hiring sprees during Covid that are laying off. Amazon/AWS and a bunch of non-tech companies are still hiring tech talent. Implementing full in-office work is a dumb move and will only top talent to leave.

This post was edited on 11/10/22 at 7:57 am

2 ...

Report Post

Posted by stout

Smoking Crack with Hunter Biden

Member since Sep 2006

167886 posts

Posted on 11/10/22 at 7:59 am to yaboidarrell

quote:
Google, Amazon, and thousands of other non-tech companies are still hiring tech talent

Google has been quietly laying people off and slashing budgets.

Amazon announced a hiring freeze for tech workers due to the economy

1 ...

Report Post

Posted by Bruco

Charlotte, NC

Member since Aug 2016

2801 posts

Posted on 11/10/22 at 9:33 am to yaboidarrell

quote:
Tech layoffs are overblown.

Disagree though it depends on what you mean by tech, it’s certainly broad.

I manage risk for a portfolio of loans to tech businesses. Now these are middle market names not the big guys but anything who directly depends on ad dollars or provides services to any who depends on ad dollars is in the process of executing on a cost reduction plan.

Anyone tied to consumer finance and insurance is also entering slash mode.

Fintech is generally ok, for now.

The Q3 numbers are coming in as we speak and they are bad.

EDIT: not to mention that the rising rate environment and disjointed debt markets has a lot of VC and PE shops on the sidelines which is a crusher on tech startups.

This post was edited on 11/10/22 at 9:40 am

0 ...

Report Post

O-T Lounge - Replies to Post

Return To Board

Page 1

Return To Board