1100 layoffs at Bay Area tech companies

#1

Post by dawhizkid » Thu, Mar 28, 2019, 1:10 AM UTC

1100 layoffs at Bay Area tech companies
mercurynews.com

Re: 1100 layoffs at Bay Area tech companies

#2

Post by byset » Thu, Mar 28, 2019, 6:24 AM UTC

Amy context to this? Is it an unusually large number of tech company layoffs?

Re: 1100 layoffs at Bay Area tech companies

#3

Post by jchallis » Thu, Mar 28, 2019, 6:25 AM UTC

Creative destruction in practice. Older firms like Oracle / SAP reducing headcount, while newer firms are adding headcount with a net increase in high quality jobs.

Re: 1100 layoffs at Bay Area tech companies

#4

Post by jchallis » Thu, Mar 28, 2019, 6:26 AM UTC

byset wrote: post #2

Amy context to this? Is it an unusually large number of tech company layoffs?

For Oracle this is a tiny change : <200 laid off of a work force of 140,000 globally. Instacart seems to be a much bigger proportional change, due to the termination of its relationship with Whole Foods.

Re: 1100 layoffs at Bay Area tech companies

#5

Post by skrebbel » Thu, Mar 28, 2019, 6:27 AM UTC

jchallis wrote: post #3

Creative destruction in practice. Older firms like Oracle / SAP reducing headcount, while newer firms are adding headcount with a net increase in high quality jobs.

SAP isn't a "Bay Area tech company" though.

Re: 1100 layoffs at Bay Area tech companies

#6

Post by cetico » Thu, Mar 28, 2019, 6:30 AM UTC

jchallis wrote: post #4

byset wrote: post #2

Amy context to this? Is it an unusually large number of tech company layoffs?

For Oracle this is a tiny change : <200 laid off of a work force of 140,000 globally. Instacart seems to be a much bigger proportional change, due to the termination of its relationship with Whole Foods.

Oracle cut 1,500 globally. These numbers are for Bay Area only.

Re: 1100 layoffs at Bay Area tech companies

#7

Post by jchallis » Thu, Mar 28, 2019, 6:32 AM UTC

skrebbel wrote: post #5

jchallis wrote: post #3

Creative destruction in practice. Older firms like Oracle / SAP reducing headcount, while newer firms are adding headcount with a net increase in high quality jobs.

SAP isn't a "Bay Area tech company" though.

I think the only thing these workers have in common are area code 650 phones. A consultant for SAP, a cloud architect at Oracle, a fraud analyst at Paypal and a Whole Foods shopper at Instacart have essentially zero overlap in their day to day activities.

Re: 1100 layoffs at Bay Area tech companies

#8

Post by IloveHN84 » Thu, Mar 28, 2019, 6:53 AM UTC

Too expensive salaries? It's funny to see promises such as 400K$/year (compared vs. the rest of the world) and hear stories like this

Re: 1100 layoffs at Bay Area tech companies

#9

Post by ryen » Thu, Mar 28, 2019, 7:17 AM UTC

jchallis wrote: post #7

skrebbel wrote: post #5

Earlier quoted context omitted.

SAP isn't a "Bay Area tech company" though.

I think the only thing these workers have in common are area code 650 phones. A consultant for SAP, a cloud architect at Oracle, a fraud analyst at Paypal and a Whole Foods shopper at Instacart have essentially zero overlap in their day to day activities.

But it did say this: "For SAP, Oracle and PayPal, the majority of the employment reductions will be in software jobs."

Re: 1100 layoffs at Bay Area tech companies

#10

Post by WhiteSource1 » Thu, Mar 28, 2019, 7:19 AM UTC

Left out Imperva, which was bought by Thoma Bravo in January. 150 people let go while the CEO makes $15 million.

Mismanaged incentives - employees don't matter, just shareholders.