Real talk here, and I'm sorry for being "that guy" Why do tech workers get so wrapped around the axle of layoffs when most people are in a chronic state of tech job hopping? I know multiple people who have worked their entire career thus far without ever staying at a place for more than 3 or 4 years. Some no more than two. Tech job culture is practically a mono culture with "hop jobs" being a hallmark. From an employ…
I cannot speak for layoffs in all industries ever, but I agree with your assessment of layoffs in big tech from personal experiences. I have way too many “lifer” friends in big tech who are deadly scared of layoffs and job hopping. They are also the ones who rarely got promoted and havent had a significant pay bump pretty much ever. On another hand, half my team at a big tech company got laid off back at the start of…
Layoffs Don't Work
201–210 of 801 posts
Re: Layoffs Don't Work
#202Earlier quoted context omitted.
Can we have a different kind of stock market which forces participants to consider long term outcomes more? E.g. no HFT firm should be able to make a profit from such a stock market. Selling stocks earlier and often should result in a penalty or percentage being taken away as a fee. As a retail investor I would love to use invest and forget strategy based on trends observed in such a stock market.
It's not really high frequency trading in the sense of day trading, it's a bit of a misnomer. I would say it's actually low latency trading, the number of trades isn't huge. It ensures that linkages in the market operate quickly. Linkages between a stock price and its respective options. Or linkages between an index ETF and its components. The price discovery process should be fast, it benefits all of the market part…
High-frequency traders (HFTs) are market participants that are characterised by the high speed with which they react to incoming news, the low inventory on their books, and the large number of trades they execute. All this is possible for HFTs because they use automated, algorithmic trading, which enables them to analyse markets and execute trades in under a millisecond. The high-frequency trading industry grew rapidly after it took off in the mid-2000s. Today, high-frequency trading represents about 50% of trading volume in US equity markets. In European equity markets, its share is estimated to be between 24% and 43% of trading volume, and about 58% to 76% of orders.
Re: Layoffs Don't Work
#203The layoffs are not the issue. It is the decision makers who took the two decisions to both over-hire and then mass-fire shortly after. GM is a great example. The company was the largest and one of the most innovative car manufacturers in the world. It doesn't stand a chance against BYD today and it is not by a lack of money (though maybe with a C-suite change). So my opinion is, yes, the damage is done (or being don…
Re: Layoffs Don't Work
#204There is a theory about large complex systems which seems to be true in biology and maybe applies here. Intentional downsizing during times of stress works when it preferentially targets defective or dysfunctional components of the larger system. The system improves because the worst parts were removed. Layoffs don't help companies unless they can reliably remove the worst parts. At most large public companies, the c…
Large tech companies are inefficient and have very poor engineering productivity but this is largely for systemic reasons. They definitely do not have any mechanism for identifying high performers. The basic problem they face is that they pay a fixed wage for complete IP ownership (horrible deal) and so they intentionally do not measure and reward actual performance because they do not want to compensate high perform…
Ten years ago, an oft-repeated quote: “you’re not paid what you’re worth, but for the value you create.”
In light of that, is the argument that performance is institutionally obscured so that devs don’t realize how much leverage they really have? I can see traces of that in seeing shipped products as less the result of one/few devs working hard and more as multiple teams, as you now have two levels of personnel abstraction to diffuse potential leverage (individual/their team, and the teams among themselves).
Re: Layoffs Don't Work
#205Earlier quoted context omitted.
I cannot speak for layoffs in all industries ever, but I agree with your assessment of layoffs in big tech from personal experiences. I have way too many “lifer” friends in big tech who are deadly scared of layoffs and job hopping. They are also the ones who rarely got promoted and havent had a significant pay bump pretty much ever. On another hand, half my team at a big tech company got laid off back at the start of…
A few months of skiing sounds nice, but not as nice as the profound pleasure of working on a team of people I've know and cared about for over a decade. You're going to spend half your waking life at work. For me, that's too much time to not want to do so at a place where I have real relationships with my coworkers.
Re: Layoffs Don't Work
#206Real talk here, and I'm sorry for being "that guy" Why do tech workers get so wrapped around the axle of layoffs when most people are in a chronic state of tech job hopping? I know multiple people who have worked their entire career thus far without ever staying at a place for more than 3 or 4 years. Some no more than two. Tech job culture is practically a mono culture with "hop jobs" being a hallmark. From an employ…
Re: Layoffs Don't Work
#207Real talk here, and I'm sorry for being "that guy" Why do tech workers get so wrapped around the axle of layoffs when most people are in a chronic state of tech job hopping? I know multiple people who have worked their entire career thus far without ever staying at a place for more than 3 or 4 years. Some no more than two. Tech job culture is practically a mono culture with "hop jobs" being a hallmark. From an employ…
I cannot speak for layoffs in all industries ever, but I agree with your assessment of layoffs in big tech from personal experiences. I have way too many “lifer” friends in big tech who are deadly scared of layoffs and job hopping. They are also the ones who rarely got promoted and havent had a significant pay bump pretty much ever. On another hand, half my team at a big tech company got laid off back at the start of…
Post layoff, a person on H1B has 2 months to sign a new job offer or they must leave the country.
Majority of Indian and Chinese H1bs do not have green cards, and are the main group that suffers. Some of these folks are well into their 30s, with kids and houses in the US.
Re: Layoffs Don't Work
#208Real talk here, and I'm sorry for being "that guy" Why do tech workers get so wrapped around the axle of layoffs when most people are in a chronic state of tech job hopping? I know multiple people who have worked their entire career thus far without ever staying at a place for more than 3 or 4 years. Some no more than two. Tech job culture is practically a mono culture with "hop jobs" being a hallmark. From an employ…
At the end of the day, everything is a balancing act, and the amount of change most of us can make as individuals is a drop in the bucket compared to the unfairness that people have to deal with every day. We all have to make judgement calls on where to take a stand and where to play it safe to avoid making things harder for ourselves without actually making a difference that ends up helping anyone, and if people are acting in good faith when trying to make those choices, I don't see any value in criticizing what they end up deciding. If anything, most of us in tech are probably in far more of a comfortable position to be able to speak out against employers (either or own or those in industries where workers are treated even worse), so I think there's a reasonable argument that it's more important for us to because of that. It's not a zero-sum game though; pointing out tech employer hypocrisy doesn't inherently take anything away from pointing out even worse things that other employers do.
Re: Layoffs Don't Work
#209Earlier quoted context omitted.
I cannot speak for layoffs in all industries ever, but I agree with your assessment of layoffs in big tech from personal experiences. I have way too many “lifer” friends in big tech who are deadly scared of layoffs and job hopping. They are also the ones who rarely got promoted and havent had a significant pay bump pretty much ever. On another hand, half my team at a big tech company got laid off back at the start of…
This story is changing. There is now an oversaturation of us ex-BigCo people in the market. I quit Google before the layoffs, after being there for 10 years and sick of it. The first year was serious ego boost, having Google on the resume opened doors all over the place. Then my ex-coworkers started getting laid off and things began to shift. Now I know people I used to work with who have been without work for many m…
Re: Layoffs Don't Work
#210> Research has consistently shown he was right about layoffs: They’re damaging to companies... The research is probably misleading. The damage was done to companies when the over-hired people who couldn't add enough value to justify keeping them employed. The layoffs are just when the damage is recognised. It is like borrowing a huge amount of money, using 90% of it it to buy prawns and leaving them out to rot for a…
I don't see much reason to think mass layoffs are typically the result of over-hiring rather than a reaction to changing circumstances that are different than when the hiring originally happened. The article opens with a perfect example, the constriction of the US air travel market following 9/11. The people most airlines fired as a result weren't "over-hired". Their hiring made sense at the time and they were fired…