Tech Companies Are Cutting Jobs. Should You Be Worried? | Money Mind | Tech Layoffs

Tech companies around the world are slashing jobs as fears of recession grow. Is boom turning to gloom, and what does it mean for the rest of the economy?

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[koruspring]

Hate it when recruiters talk about considering learning opportunities… let’s take that logic and let me ask you back, why do you want to learn more? I’m sure it’s so you can get better pay. So in the end, we all want better pay. Don’t sugarcoat it.

[edthelazyboy]

Tech companies that laid off workers better not complain about tech talent shortage in the future. They treated them as expendable objects.

[edwardlumsianming]

There are jobs that are secure, regular income but NO EXCITEMENT. whereas tech jobs are like hire and fire depending on their PROFIT . The benefits are good. Here regular income is very important because of the system we serve

[calipdis]

Is better to work for your own or figure out how to provide yourself without the job market intervention. There are already many workers for very few Jobs and it will get more crowded in the future

[hzt]

These tech companies serves real people and businesses. They are the ones with big data, if they feel that they should reduce headcount, we should be worried about the economy. This video downplay the global recession that will happen in 2023.

[neverendingchan]

To the Country Manager of the manpowergroup.
instead of focusing on just the pay look at other factors for example the "Learning opportunities that the company can offer"

This lady does not understand the pain and suffering of most tech workers at all.

[bluesteel]

This is true ... I can see less openings on linkedin

[csy]

Feel like still got shortage though, I’m still getting LinkedIn inmail. Which I didn’t get prior to joining tech a few years ago. Asking someone with 1.6x salary to go back to their job prior to joining tech is a bit crazy when there is still a shortage of tech talent in the industry.

[toddpacker]

My Eastern European communist father always told me, ether work for the government or work for yourself. Never rely on a fancy degree and someone else to keep food on your table.

[containedhurricane]

I thin it's easier for them to replace the senior developers with the junior ones, because of the wage bill and young people are more updated with the latest technology

[ska]

*Seagate Technologies in Singapore so far cut all OT to zero in most departments. And forcing all employees to clear leaves. Those who has no leaves are made to take Advanced Leave. And only a maximum of 4 advanced leaves can be taken, anything more would become UNPAID leave. Talks of retrenchment in the wind. NOT SURE IF ITS LEGAL TO FORCE PEOPLE TO TAKE LEAVE, AND ESPECIALLY UNPAID LEAVE* 🥵🥵🥵

[Danderman]

My two cents from my perspective:
1. Those tech work will be come more common in time, so those who want to command a higher salary will have to face the inevitability of competition;
2. As long as we continue to maintain the old way of business, money will continue to rule over production, i.e. money leads, producers follow;
3. Given very few are willing to embrace new paradigms, including the victims, it would be difficult to turn the tide against old power of money.

[Jason-sfvx]

Majoirity of these IT companies are losing money since inception, with cheap money drying up as interest rate going up, these companies will have to start looking at bootom line . It is unfeasible to operate business with loss year in year out

[crystinamarie]

Fascinating video. Thank you! This is going on in America and probably all over the world. It's a change of the times, the pandemic really turned the world on its head. Maybe it's for the best.

[xxoo-lpvc]

4 Oct. Is Credit Suisse the next Lehman Brothers?
“A major international investment bank is on the brink”.
Credit Suisse’s credit default swaps costs, which is the cost of insurance against a default, have reached the highest level since 2008, the year of the Global Financial Crisis. This means that investors are truly concerned about the potential for Credit Suisse, the largest bank in Switzerland, to default.

[benzpinto]

its all about US money printing policy. when they were printing money like no tomorrow last year, american investors put their free money on almost anything they hear. now when US finally concedes to stopping its free money and increasing interest rates, american money is flowing out from businesses.

[seanize]

Country manager of Manpower, clearly she doesn’t know what the actual people are suffering

[metalstamping]

What is the retrenchments percentage of foreign vs local IT ?

[xxoo-lpvc]

US money-printing policy is source of global financial distress
There are clearer signs now that persistently high inflation linger in large swaths of the world and may stretch to the end of this year or even longer, eroding the living standards of billions of middle and low-income families. People often fret and agonize over the surging prices of many commodities, groceries and services, but they seldom seek answers as to what causes the hefty price rises.
In most cases, inflation is self-correcting, meaning price swings in one segment, such as crude oil or grain, won't spill over to impact other sectors and form broader inflation trends.

But the current round of global inflation is something different - it started in the US in the first half of 2021, triggered by the Biden administration's profligate $1.7 trillion fiscal spending plan, aggravated by the Federal Reserve's quantitative easing monetary policy, and being brought to and infected the world's other economies via the dollar-dominated global trade and financial settlement regime.
If economists look back at this century, they would find out a precedence of this type of global-level financial distress.

[catherinesophia]

Investing in crypto now should be in every wise individuals list, in some months time you'll be ecstatic with the decision you made today