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Layoffs hit highest level for the month since 2003

challengergray.com

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Re: Layoffs hit highest level for the month since 2003

#21

Post by pylua »

randycupertino wrote: post #2

Just the last 4-6 weeks I've started noticing a marked uptick in desperation in reposted linkedin "looking for work" posts. One was "I'll take ANY job to feed my kids" and another was talking about how they've been out of work 10 months and were about to lose their house. Another was saying they were about to get evicted and moving back in with their parents in the midwest. Things feel ominous out there. If it helps…

I’m terrified of what would happen if I lost my tech job. It’s not the income but more the cost of insurance for a family of four.

Re: Layoffs hit highest level for the month since 2003

#22

Post by Fraterkes »

I’m not from the us, so can someone give me some real perspective? If you have a couple years experience and you want to make at least ~50k a year, is it actually really hard to find a job in tech right now?

Or is this more about senior people not being able to find ~100k a year jobs as easily?

Re: Layoffs hit highest level for the month since 2003

#23

Post by rickcarlino »

swyx wrote: post #9

this post is filled with ads and is a low effort rewrite of the OP post: https://www.challengergray.com/blog/october-challenger-repor... which has more info and did the original work. suggest swapping link for this post. would also pay some money to never see this awful site again on HN. by the time you scroll to paragraph 3 the screen is 50% filled with shoe ads and other random shit

The headline is also shit. I wish there was a way to flag with context.

Re: Layoffs hit highest level for the month since 2003

#24

Post by Xenoamorphous »

betaby wrote: post #4
randycupertino wrote: post #2

Just the last 4-6 weeks I've started noticing a marked uptick in desperation in reposted linkedin "looking for work" posts. One was "I'll take ANY job to feed my kids" and another was talking about how they've been out of work 10 months and were about to lose their house. Another was saying they were about to get evicted and moving back in with their parents in the midwest. Things feel ominous out there. If it helps…

If tech folks are laid off who is renting that insanely expensive housing in the coastal cities?

One thing that strikes me as odd, as someone not from the US, is that it’s kind of assumed that people are renting? I’d expect that lots of people in SV/Bay area would just buy the place, expensive as that might be.

Re: Layoffs hit highest level for the month since 2003

#25

Post by wahnfrieden »

soared wrote: post #18
wahnfrieden wrote: post #14

This is what one-on-one relationships with our employers gets us (where one-on-one means one worker's relationship to a chain of command, a department for compensation & benefits, ownership, board, and a network of investors & advisors coordinating on compensation, hiring practices, regulatory politics at a national level)

The alternative is unions correct?

There are various ways of organizing

Re: Layoffs hit highest level for the month since 2003

#26

Post by OptionOfT »

Fraterkes wrote: post #22

I’m not from the us, so can someone give me some real perspective? If you have a couple years experience and you want to make at least ~50k a year, is it actually really hard to find a job in tech right now? Or is this more about senior people not being able to find ~100k a year jobs as easily?

I don't know a lot of people who could stay in their current house on 50k/year.

Re: Layoffs hit highest level for the month since 2003

#27

Post by seneca »

Fraterkes wrote: post #22

I’m not from the us, so can someone give me some real perspective? If you have a couple years experience and you want to make at least ~50k a year, is it actually really hard to find a job in tech right now? Or is this more about senior people not being able to find ~100k a year jobs as easily?

Junior jobs are very hard to find right now. They are much rarer than they used to be. However, if you are even somewhat capable you could probably find a role if you're willing to accept $50k total comp (which is very low in most areas) just by being willing to work for less than others.

Re: Layoffs hit highest level for the month since 2003

#28

Post by dragonwriter »

wahnfrieden wrote: post #14

This is what one-on-one relationships with our employers gets us (where one-on-one means one worker's relationship to a chain of command, a department for compensation & benefits, ownership, board, and a network of investors & advisors coordinating on compensation, hiring practices, regulatory politics at a national level)

> This is what one-on-one relationships with our employers gets us

Its what an economic slowdown outside of AI gets us, mostly, but yes, unbridled capitalism (with, among other things, neither unionization in the industry under consideration nor strong public protection of labor rights) magnifies that (it also, to be fair, magnifies the upswing in employment on the upward side of the business cycle, but, it also magnifies the adverse consequences of unemployment on either side.)

Re: Layoffs hit highest level for the month since 2003

#29

Post by ghaff »

Fraterkes wrote: post #22

I’m not from the us, so can someone give me some real perspective? If you have a couple years experience and you want to make at least ~50k a year, is it actually really hard to find a job in tech right now? Or is this more about senior people not being able to find ~100k a year jobs as easily?

Without delving into all the stats, $50K/year is a pretty mediocre salary--certainly in anything resembling a medium to high cost of living area. Your rent will consume a lot of that after taxes without roommates and even a "paid-off" house will probably not be a whole lot less with taxes, insurance, utilities, etc.

Certainly a trailer home in a lot of places but then not clear how easily you'll get that $50K/yr job.

Re: Layoffs hit highest level for the month since 2003

#30

Post by rvz »

Fraterkes wrote: post #22

I’m not from the us, so can someone give me some real perspective? If you have a couple years experience and you want to make at least ~50k a year, is it actually really hard to find a job in tech right now? Or is this more about senior people not being able to find ~100k a year jobs as easily?

$100k a year in 2025 is like earning $55k a year in 2007, accounting for inflation and costs.

The value of money and especially the dollar is getting printed away to worthlessness.

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