Why Tech Layoffs Don’t Reflect the Job Market | WSJ

The tech sector has cut about 50,000 jobs in November.

The recent headlines about tech layoffs don't seem to match broader economic indicators, which show a strong job market and a historically low unemployment rate. WSJ's Gunjan Banerji explains the disconnect. Illustration: Ali Larkin

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[Bettylulseged]

I got laid off from Microsoft recently. Not sure the recession is the reason for the mass layoffs. Believe companies are cutting projects they wanted to cut a long time ago and using the recession as a way out. Made a video about my experience as well!

[alluringgrace]

Job market added a lot of low pay, low skill jobs. While tech layoffs were on high pay, high skill jobs.

[tyi]

I am studying for tech certification for my career but things are changing so quick.

[foadsf]

The irony is that WSJ announced layoffs just as this video was being made!

[ManuXit]

I lived through the massive tech layoffs of the years 2001-2002. the years that followed were the best I have ever had for my tech career

[rdean]

Their choice of stock footage is perfect. Got laid off from software engineering role at Twitter? Take this job opening bagging groceries at Costco! Lose your Product Manager role at Amazon? Put on this vest and head down to the warehouse!

The quality of the job matters.

[ASURAN]

One of the things that made these layoffs not counted besides timing is the fact that they always come with severance pay for 3+ months. So those are not counted as unemployment as they are still being paid.

[mikeseigle]

Most layoffs include severance payments that delay them showing up claiming unemployment. I guess it will start showing up in 2 or 3 months, but not this month.

[Mario-dudj]

Tech companies added thousands of jobs during the pandemic to meet the demand since everybody was home. When the pandemic shifted to epidemic, the demand decreased hence the layoffs started. Tech companies are basically going back to their normal employment levels of 2019 before the pandemic. These kinds of news are trying to scare people off and that might start to chain reaction of events to create recession.

[jolp]

"we created 5 million jobs this year" "i know, i have 3 of them and still can't pay my rent"
the number of jobs to unemployed doesn't mean anything if so many of them have bad wages and benefits. people need to live and pay bills

[mack-uvgn]

Tech jobs isn’t the center of the economy universe, it’s part of it.

[nnf]

What's the point in having a job if wages don't keep up with inflation and ppl can't afford to live

[StormofBytes]

Oh noes.... instead of working for big tech companies these tech workers now will have tech jobs waiting in finincial/medical and other sectors.


Poor them still doing tech...

[ronaldstephenregnier]

The Oil and Gas business lost >100k jobs in 2015-16. Not a mention in the press. The techies loom large in their own minds and in the media.

[mungolianbeef]

The semi-conductor manufacturing industry is slowing. My company has already initiated layoffs

[gopisanthilalgandhi]

If the layoff data doesn't reflect in November data, why don't you wait till December data is available before publishing this video?

[benjamindover]

It doesn't matter how many hundreds of thousands of fast food jobs you add, that does not equate a "hot job market".

[biobossx]

My heart goes out to all those tech Bros

[Max-vetu]

It's just like the pandemic. If you are a non-essential worker to your company's operations, you are expendable. Twitter is a great example. The site's functionality is fairly simple and there really hasn't been that much innovation since its inception; at least compared to other tech companies. You can't tell me that all 7, 500 people were essential to its operations.

[Continentalmunkey]

Part-time industry alternate is time zone reversal but built spaces <state >