Why are tech startups laying off employees?

Tech companies around the world are laying off employees in their thousands and freezing hiring, which sounds surprising because these companies are considered highly valuable. Weyinmi Barber, Tech HR professional shares some insights on tech companies' business models and why they are downsizing despite their high valuations.

Watch out for the full interview on Tuesday, August 30, 2022.

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[cylnow]

I enjoyed the comments made by the lady that gave her insight on why tech companies are laying off, and the challenges that they face.

My comment is that we are going to experience global challenges, with broken supply chains leading to severe food shortages, and high unemployment rates.

In my country USA I am recommending internet driven businesses due to the challenge of the Covid 19, and other viruses that are possibly coming into the general population shortly.

I would like people if they are losing their jobs with tech companies to consider bringing technology to traditional service businesses that can be started with less start up capital. By bringing these businesses on line with maximal usage of internet, algorithms, and slowly investing in equipment for your business that is ahead of your competitors you are creating an opportunity to provide a service utilizing fewer employees, yet providing a better quality product. When economies are negatively impacted due to inflation, and temporary down cycles you must try to reinvent yourself. It is critical that you start cutting back expenses immediately prior to actual layoffs, and try to establish one or more home based businesses that will bring small to moderate amounts of revenue prior to your actual layoff.

Once you have been laid off, and have no savings, it is much more difficult, though not impossible, to create alternative income streams until you can resume employment with a new company. We will be going through challenging times for several years into the future, therefore "creative self management" that can protect the income stream of your family members is critical...it is essential that you analyze the business sectors that are vibrant within a 25-50 mile radius from where you live, and immediately start honing trade skills in carpentry, plumbing, electrical, freight broker, real estate broker, leather making, janitorial, and the multitude of other service businesses that exist within your community.

Remember, the critical element is to separate yourself from your competitors by innovatively using technology to distinguish your self from your competitors, and provide a better quality product...if you can give me specific information on the types of businesses in your neighborhood, and the educational levels of the population (demographic) I can make the modeling more specific, and applicable for your particular community. To be blunt there are dark times ahead, however preparing now will help to make the economic fallout more tolerable...and ideally less destructive for your individual family members, and ideally cohesive family structures...

[bertyedohoabasi]

Very interesting conversation. Where can I get the full version?