General question about this wave of tech layoffs: Has anyone done a breakdown of what roles have been cut? Is it management or product or engineering? Senior or junior?
My general sense is that every company is rushing to trim some fat while it's socially acceptable to do so. But where are they making cuts?
Here's the number that I keep tossing around: in June of 2019, Microsoft had about 144k employees. In 2022, they had about 221k employees. They're laying off 10k, which still makes a net gain of almost 70k. It's pure optics for wall street.
I'm not particularly worried but this is why you should always be applying and looking for another gig to have in your back pocket. Or, even better, be overemployed and work multiple gigs at once.
These companies will toss you out like an old shoe, so f*ck 'em.
Our company is hiring more sales. Trying to squeeze more out of the market before facing reality I guess.
Our investors also forced us to do layoffs and other savings because it’s good optics and their other portfolio companies are losing money fast. Even though we’re a net profitable company
No one has done this analysis -- I keep wondering the same thing. I'm sure it's insanely difficult to get accurate data. If (e.g.) the majority of cuts are in HR/recruiting, that's more of a signal of tightening up hiring for the foreseeable future.
My general sense is that every company is rushing to trim some fat while it's socially acceptable to do so. But where are they making cuts?