Google laying off 12,000 employees speaks volumes.
Discussion
Just checked and they’ve gone from 80,000 in 2017 to 150,000 today!
Plenty more will go.
Wow... I did not know they had gotten that large. It makes sense to lay off some employees then. It may not be as shocking as I had originally thought.
Over 100k in tech industry in 2022. Salesforce Meta MS Alphabet now close to another 60k in Q1. Mostly from over hire during pandemic and most are from low or mid level. Devs and cloud sme’s are in high demand, probably for awhile
It sounds like there's plenty of new talent out there that could come work on nostr 😉
wow
Things have felt so bad for so long. It feels like the US is in a death spiral and hell bent on taking the rest of the world down with us.
Classic bully, tear others down to build your ego vs actually doing the proof of work on yourself.
As a friend who worked at meta once told me; 95% of us are here to make the 5% that produce, happy.
That's probably fairly accurate. I toured the FB DC office once, about 10 years ago. I signed my name on their mural wall. I feel dirty now. 😞
Once the algo is in place, what do you truly need the other 130,000 employees for? I’m sure even way less than 20k employees could keep 90% of their revenue afloat. The bloat is enormous. Hopefully the laid off saw this coming and have a plan.
Absolutely. They were building their own demise. I felt like that a few years back. I was actively working on moving and consolidating all of my services from one server room into a data center with centralized services, giving up control to 90% of my infrastructure. It was an odd feeling. Thankfully, I was able to move into another position. They never replaced me after I left. They didn't need a *me* any longer. Though, they did call me for the next 2 years for random things...
and I don't think the fed is going to be lowering rates anytime soon many of these massive companies grew on cheap money and have so many bloated departments where people get away with a work day consisting of 3 emails so pretty sure that theres more to come
The Fed seems to have themselves trapped in a double down harder to fix what I broke by doubling down harder mentality.
I am actually surprised the deflation isn't hitting faster, I mean you pushed equities down (not that there isn't room for more) job markets are a mess with some people not willing to come back yet, and others firing in bloated sectors like tech and finance, then that puts pressure on real estate, credit card and auto if people cant service that, so defaults start creating more deflation or so I was told it would unravel
While the US is the market to watch, I am also looking at those developing markets like Egypt and Turkey who are desperately trying to keep their currencies above water as capital flows to the dollar for that "Risk free" return
I'm still watching it all wondering where this is all going?
Absolutely. It's all going to hell, that's where it's going. It's a cascading effect that we can't get out of.
I am living in the Turkish Republic of Northern Cyprus, because it´s 100% tax-free for foreigners and because I have Bitcoin-exchange-offices every 5 miles here. Nobody here is trusting the Turkish Lira anymore. Everybody just hold what he needs for living. The main currency traditionally is GBP but also EURO and USD. But buying cars or houses with Bitcoin is no problem here. TL inflation is around 120% here. Crazy.
💯 Crazy 😳