Cisco to Lay Off Thousands of More Workers, Reuters Reports

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[LORDAKIRA]

Profits fiscal 2024: 55.34 billion. Paying ceos and board members millions for nothing is the problem, not the employees.

[shana.ball]

The prediction of a 32% business failure rate in 2024 suggests a challenging landscape ahead. Factors contributing to this potential "business apocalypse" should be carefully analyzed, including economic trends, industry shifts, and the impact of global events. Adaptability and strategic planning will be crucial for companies navigating these uncertain times.

[TheSnerggly]

I've been out of work for 8 months now for the first time in my life. I can't find a tech job, ageism and so few jobs available for us now.

[Ukrainian-woman-of-your-dreams]

More people seriously need to create their own jobs or businesses. Most companies are becoming stingy, greedy, unforgiving, despicable, and dependent on AI.

[KK-ttui]

I work in med tech, my company opened a R&D center in India to support sustaining. I expect my group in the US to dissolve in 5 years

[Tetingf]

You cant lay people off if most people are laidoff already

[sono]

Intuit laying ppl off yet agreed to a 23-year, $500M naming rights deal with the LA Clippers 🙄🙄

[-vis-]

how can AI be a justification when you see little business products actually using AI ?

[johnmiller]

Cut common people greed. Cut corp taxes, secure the border. Stop paying people to do nothing.
Pretty soon we as a nation will not be able to afford food itself. BRING JOBS BACK, STOP LAZINESS.

[lalew]

too much outsourcing by all the tech companies - need to limit the h1-b visas - blame the corporations - it's been like this the past 20 plus years

[Unordinary-lgyt]

Supply and demand. The number of people flooding college for an Electrical Engineering, Computer Science, Data Science, “IT”, and Data Analytics is overwhelming. Ball is in the court of the employer.

[enflfsj]

I passed by a closed K-Mart store where the parking lot is filled with all kinds of Teslas. There’s a Tesla repair shop within a mile of the lot. With the cheapest new Model 3 at $39, 000 they’re not selling. If you own a Tesla they’ve depreciated because Tesla lowered the prices to boost sales.

[bonnolog]

Friend of mine got laid off and went to play soldier in the reserves on weekends.

[tveerco]

The silent layoffs are mostly unaccounted and those that say below the radar but companies have been laying off a certain numbers at the beginning of every month.

[andrewhu]

These estimates for layoffs are way too low, as they only cover big-tech. Its across the board and covers the small and midsive companies too - the market is now flooded with IT job seekers.

[webspec]

00:26 "The good news, that's actually down 42% from the same time last year".
.... I guess the bad news is that now we are measuring tech layoffs Year To Date, Year over Year, and Quarter On Quarter XD

[SpecialK]

“AI”? They could mean “Automation Investment” for all we know. 90% of companies don’t even know how they can use Artifical Intelligence yet.

There is no way Artificial Intelligence is ready for all of these companies slash big departments. Feels more like it’s just good PR to keep stock prices up, while cutting costs from their bad hiring practises over the last few years.

[FEDD]

Tech getting rid of the bloat from overhiring in 2020 - 22. Lots of unimportant roles not needed anymore unfortunately.

[jaym]

Wow! That AI is more powerful than I ever imagined.

[tadmarshall]

During the heyday of the 1990s tech bubble, Business Week reported that there were 200 companies installing fiber optic cable and that on average they each expected to own 5% of the market. I think that AI is headed towards that level of overinvestment. The pullback will be epic.