Mass Layoff In 2024- What the Hell Is Happening?

Mass layoff in 2024. Be safe and keep a cushion for yourself and keep on getting skilled.

[krishnaik]

Whatever is the situation please make sure to have a back up, cushion and please keep on workign on your skills

[sauravchandra]

I hope people understand the value of backups and the fact how companies treat them when it comes to their profits.

[DharmendraKumar-DS]

People doing extremely hard work for a career transition...and this news is breaking the hope.

[amanrehman]

Impossible for freshers also. People with experience are preferred.

[ssrk]

Took a bad descision leaving my job to fully prepare for data science role...now couldn't even get a entry level job

[aniketverma]

You don't perform, you go out. The company doesnt perform still you go out.

[pixelverdicts]

Save money and don’t spend in anything that is not important.

Like, you don’t need an iPhone to survive…you can have a simple ₹15k samsung phone, it will get your job done.

Be frugal for next few months. Only spend on essentials.

[avijitbasu]

Thanks...I was born in 1961. I have run down the TIME CLOCK. After both stints in private and government sectors , I am getting ready to pick up my pension and other benefits....ooof best of luck young generation. I could not had coped with the stress if I was born in 1981 or later.

[nikhilpagote]

Due to the AI bubble, the top tier of most companies is thinking of reducing human resources by replacing them with AI-enabled software. our leading search engine company is one of the main culprits who started this trend. The decision-makers in any organization are mostly non-technical, and software vendors are selling AI-enabled services claiming unrealistic cost cuttings to the opex (If you keep an eye on the marketing of their AI models). Employees are expendable resources as all companies only understand profit and loss.

[AbhishekKumar-ubco]

After affects of unreasonable hiring that took place post covid.
Industry overestimated the future prospect of IT and hired people with inflated packages.

[bob-prye]

seems like since 2020 things took a terrible turn. Thanks a lot to these people running the show !

[AryanKulkarni-tdzp]

Being unemployed isn't bad if all are unemployed

[amitsardanayt]

A suggestion for freshers or juniors in job is to invest 1.5Lacs in PPF and Good contribution in VPF and not just enjoy all the salary. When you have a layoff after few years you will have developed a corpus of 20-30 Lacs or more which will be your only ray of hope to experiment something different or just weather out this time. If you dont have this cushion then you will become for desperate a job and it is not in your hands when you get it.

Also develop skills while on job as developing any skills takes months if not years. Giving months to upskill when you dont have job will be tough.

[sandyy]

Best time to start learning and get in once market booms back

[utkarshkunwar]

Inflated salaries goes hand in hand with all these happenings. Note how majority of the companies are based in the IT vertical.

[niteshagarwal]

IT sector and US is on decline
As per Dr Ankit Shah and he is correct as well

[martharajkumar]

I got impacted by the layoff . I have 1.5 years of experience in front end development. MNCs were not onboarding freshers. I didn't get onboarding waiting since 2022

[SuperRia]

Restructuring is one of the reason, I'm working in one of the org you mentioned in video

[seleniumkarthic]

Thank you Sir for your advice.It means a lot to me ..

[FloppyDobbys]

I was just laid off recently as a software engineer . Fortunately for me I saved most of my money, lived frugally, and invested wisely. So even if I have a few years with no job I will still be fine. That said, for those who thought days like this could never happen and took out lots of debt… you might be in for some serious trouble