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Started By
Message
US tech industry getting hammered right now...
Posted on 11/2/23 at 2:11 pm
Posted on 11/2/23 at 2:11 pm
the register
And this was from July.... More have been added
quote:
career consultants said technology was "leading in job cut announcements" for US-based employers this year with 141,516 job roles lost so far, up 2,353 percent from the 5,769 cuts announced in the same period last year. 2023 now has the "second-highest total for the sector ever" with only 2001, the year of the "tech bubble" recession, having more. That year, 168,395 cuts were announced in technology.
And this was from July.... More have been added
This post was edited on 11/2/23 at 2:26 pm
11
Posted on 11/2/23 at 2:14 pm to bamabonners
So everyone just figured out Elon was right?
Posted on 11/2/23 at 2:15 pm to bamabonners
Why hire an American when you can offload it to 3 indians?
Posted on 11/2/23 at 2:17 pm to BeepNode
quote:
Why hire an American when you can offload it to 3 indians?
Americans are too expensive on the global market and have to offer more value than others.
Posted on 11/2/23 at 2:18 pm to bamabonners
Tech was a big leader in job cuts early on, enough so that I have been surprised the entire bay area's property values haven't yet been equally hammered due to that combined with the mass exodus from California in general.
Posted on 11/2/23 at 2:18 pm to bamabonners
Oh no! Anyway…
Posted on 11/2/23 at 2:22 pm to RogerTheShrubber
quote:
Americans are too expensive on the global market and have to offer more value than others.
I need you to solve a puzzle to prove that you are not a bot.
Outsourcing to India almost always costs you more money, even if indirectly. It's just a messy car salesey culture. I've seen companies get completely screwed once the hooks got in. Big companies often have vampire consulting firms attached to them. The dynamic is fascinating because the companies grow to hate the consulting firm but they are convinced that they can't get rid of them.
Many state governments have 300-500 indians working in India that they are unsatisfied with but can't get rid of due to vendor lockin.
This post was edited on 11/2/23 at 2:23 pm
Posted on 11/2/23 at 2:23 pm to Bard
Probably still too early.
Many of these severance packages i’ve heard of are 6mo+ of full pay after being let go.
They probably aren’t panicking yet
Many of these severance packages i’ve heard of are 6mo+ of full pay after being let go.
They probably aren’t panicking yet
Posted on 11/2/23 at 2:23 pm to BeepNode
I can confirm everything you just said,
Posted on 11/2/23 at 2:24 pm to BeepNode
My industry has consulting firms at the top. I’m convinced they are hired so that someone at the company that hired them can simply point the finger back at them if something goes awry.
Posted on 11/2/23 at 2:24 pm to BeepNode
quote:
Outsourcing to India almost always costs you more money, even if indirectly. It's just a messy car salesey culture. I've seen companies get completely screwed once the hooks got in. Big companies often have vampire consulting firms attached to them. The dynamic is fascinating because the companies grow to hate the consulting firm but they are convinced that they can't get rid of them.
Vietnam, Mexico are both cheaper than China now, India isnt the only option.
We've inflated our dollars to the point that American labor is a poor value, and thats not the fault of the laborer.
Posted on 11/2/23 at 2:27 pm to BeepNode
quote:
Outsourcing to India almost always costs you more money, even if indirectly. It's just a messy car salesey culture. I've seen companies get completely screwed once the hooks got in.
About a decade ago it got so bad for Dell's business sales that they had to bring their business tech support back state-side. I've wondered from time to time how bad "so bad" had to be for them to make that decision and what were the various dollar values involved.
Posted on 11/2/23 at 2:32 pm to BeepNode
Indians are pricing themselves out of the offshore market now that they cost 1/3 the price of Americans.
Firms are looking to places like Costa Rica and Poland where they can get workers who are equally incapable for 1/5 the price of an American.
Firms are looking to places like Costa Rica and Poland where they can get workers who are equally incapable for 1/5 the price of an American.
Posted on 11/2/23 at 2:36 pm to bamabonners
Most of the tech innovations were driven by cheap capital. That's gone for the foreseeable future.
Posted on 11/2/23 at 2:46 pm to John Coctostan
I thought the admin told everybody to learn how to code??
Posted on 11/2/23 at 2:50 pm to BeepNode
quote:
Why hire an American when you can offload it to 3 indians?
Now retired, I worked for a major telecom for 25 years, over the past 10-15 years every company call center (internal and public) has been off shored to India.
Posted on 11/2/23 at 2:51 pm to bamabonners
quote:
US tech industry getting hammered right now...
All these monkeys are fricked.
Posted on 11/2/23 at 2:57 pm to bamabonners
quote:
US tech industry getting hammered right now...
Learn code!
..oh, wait..
Posted on 11/2/23 at 2:58 pm to bamabonners
All those vanity projects at various big tech companies fueled by cheap cash are coming to an end. Belts are tightening as VCs aren't throwing as much cash at startups anymore and larger established firms are stagnating.
Expenses are up and fat is being trimmed. Google would get a lot of bad press for all its failed projects but so do a lot of other companies in this industry.
The chickens have come home to roost.
Expenses are up and fat is being trimmed. Google would get a lot of bad press for all its failed projects but so do a lot of other companies in this industry.
The chickens have come home to roost.
Posted on 11/2/23 at 4:35 pm to BeepNode
quote:
Why hire an American when you can offload it to 3 indians?
Do you want someone to lie to you and waste your money, but a strip club is too embarrassing?
Try offshoring!
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