this post was submitted on 09 Feb 2024
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Might sound like a bit of a conspiracy theorist here, but if all of the big tech companies lay off people at the same time, why could they not hire their recently laid off competitors for a fraction of the cost?
Obviously it drives down the cost of the salaries and lowers the average hiring rate. Huge wins for all these massive companies.
And to prove that they all did this "together" when they all did it a few weeks apart will be rather difficult too.
Maybe that's just me thinking from both corporations and employees side at the same time, though...
Why would it? I usually get a pay raise when I get a new job.
What's actually going on is they're massaging the numbers a bit to get investors to invest more. Salaries aren't the concern here, it's just a game of staying on the investing trends to get the most investor capital they can. Employees are just caught in the crossfire.
Have you done this from a position of not having a job in tech though? Having thousands of other employees also vie-ing for that same position with equivalent experience or better?
If you have obligations any job is better than no job from a position of no job, no pay.
Yup. I lost my job at the start of COVID in tech and found a new one with a better salary. I had a house, wife and kids, and I was the sole bread winner. It took several months, but I had cash reserves and found a good position at a good company (I was a bit picky).
I wasn't part of a huge layoff, but a lot of people were looking for jobs at the same time due to shifting markets. My old company was downsizing due to market shifts, and the new company was expanding due to unrelated, company-specific reasons.