Tech sector is taking a "break"

in LeoFinance2 years ago

Dude, *this article is just insane, but it tells us something very important.


*The article link leads to in order to not give any views to the original poster.

Between slowing revenue growth and an increasingly murky outlook for tech companies in general, Google is tasking its employees to put in harder shifts at work.

Pichai reportedly asked workers to help pitch in by creating a company culture that would be “more mission-focused, more focused on our products, more customer-focused.”

A week later, Google officially began a two-week hiring pause, which is set to continue into this week.

What everyone was fearing of happening, is starting to roll out. Other tech companies are already cutting out positions that don't make any money for them, and Google, the biggest of them all, is telling that section of their company to get their ducks in a row or they will lay them off.

We're about to start seeing some serious shit in terms of tech layoffs.

This very same scenario went down between 2008-2010 when the real estate bubble crashed. Every department in multi-national corporations was ordered to get rid of 20-30% of their most useless employees. A lot of these companies have gotten complacent this time around, especially in tech. When companies enter survival mode they'll throw all the filler positions they created in order to get social points or good boy treats, but once shit gets serious they will throw them their ass without a second thought.

Here's what's gonna happen: Google and other Tech companies starts freezing hiring, that's how the snowball effect starts. They aren't hiring anyone, a few weeks or couple of months later the layoffs begin. And because the vast majority of Tech companies are doing the same thing, all the people who were laid off start competing for low skilled jobs like warehousing and retail to be able to pay their bills. One of the 147 Human resources manager who brought no value for the tech company takes the high-school dropout's job from McDonalds and all these unskilled workers suddenly find themselves in an over-competed, under-supplied job market.

Are you prepared for the recession?

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