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GitHub to lay off 10% and close all offices

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Re: GitHub to lay off 10% and close all offices

#13

Post by lolinder »

lampshades wrote: post #5

This really is the techpocalypse, huh? I’m young (35) but I’ve never seen layoffs so continuous. I wonder how far into the year this will go and if we’ll ever come back. Maybe companies truly will start offshoring.

I would wager that you also had never seen such an insane tech hiring market as we did during the pandemic. I think it remains to be seen whether this is just a correction of the pandemic tech bubble or something more permanent.

Re: GitHub to lay off 10% and close all offices

#15

Post by bombcar »

shadowgovt wrote: post #10
lampshades wrote: post #5

This really is the techpocalypse, huh? I’m young (35) but I’ve never seen layoffs so continuous. I wonder how far into the year this will go and if we’ll ever come back. Maybe companies truly will start offshoring.

You missed them by that (tiny-fingers-gap) much. I'm just old enough to have witnessed the dot-com crash a few years before I went into industry; this feels very similar. In fact, it feels a little less intense; the dot-com crash was about an entire business model consolidating under an absolute handful of winners (example: most independent online stores went "We can't compete with Amazon" and bankrupted, laying off…

Yeah this is more of a downturn where successful companies are laying off a percentage- the dot com bust was thousands of companies just ceasing to exist overnight. Not really entirely comparable.

Re: GitHub to lay off 10% and close all offices

#16

Post by bombcar »

vxNsr wrote: post #3

Wow what an odd coincidence both git companies doing layoffs on the same day. Also interesting that GitHub is so separate from Microsoft that they are doing their own layoffs and weren’t included in the larger Microsoft layoffs.

I wonder if they were told to do X to match Microsoft and it took them a bit longer to implement.

Re: GitHub to lay off 10% and close all offices

#17

Post by tibbon »

jobs_throwaway wrote: post #11

wild how so many companies are laying off 7-15% of their workforce in such quick succession

It doesn't appear that any of the big ones are completely reversing their hiring sprees from the past 3 years; rather they are re-adjusting in realizing that can't hit their profit targets at this rate, and that many of their ambitious projects aren't panning out.

Many of these companies ballooned their hiring during covid, increasing at 20%-40% a year (or more!)

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