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How much have tech layoffs affected engineers vs. other departments?

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Re: How much have tech layoffs affected engineers vs. other departments?

#101

Post by ls65536 »

MisterBastahrd wrote: post #88
bloppe wrote: post #57

Earlier quoted context omitted.

Unemployment is at a historic low, which is not typical of a recession.

The economy is shrinking because boomers are retiring at a rate faster than we can fill jobs. The Boomer economists at the Fed have responded by raising interest rates so that Xers, Millennials, and Zoomers don't get uppity and ask for more money.

> The Boomer economists at the Fed have responded by raising interest rates so that Xers, Millennials, and Zoomers don't get uppity and ask for more money.

Maybe so, but you might want to also consider at the same time what's happening to all that Boomer wealth mostly tied up in retirement accounts (stocks and bonds) and in the real estate that they own while these interest rates rise. Sure, the effects here aren't equally distributed (neither generationally nor by asset class), but hardly anybody is getting away unscathed.

Re: How much have tech layoffs affected engineers vs. other departments?

#102

Post by PragmaticPulp »

walshie4 wrote: post #27

The fact that snap's web3 team being cut is one of the listed examples is pretty comical IMHO.

> The fact that snap's web3 team being cut is one of the listed examples is pretty comical IMHO.

We're seeing a huge influx of applicants who are coming from failed web3/blockchain projects. It was very much a gold rush that attracted a lot of people looking to strike it rich. Now that the momentum has disappeared, the employees of those projects are all running for safety.

Re: How much have tech layoffs affected engineers vs. other departments?

#103

Post by andsoitis »

dominotw wrote: post #9
sarchertech wrote: post #6

Earlier quoted context omitted.

Staff engineer is just title inflation for what used to be senior engineer. Senior engineers at most companies just means this isn’t your first job right out of college.

I have 15 yoe and have senior software engineer title so do people with 2 yrs experience. I might be doing same thing over and over. Time to make a radical change :/.

What is the spread in compensation, scope of work, level of responsibility, etc.?

Re: How much have tech layoffs affected engineers vs. other departments?

#104

Post by 01100011 »

bloppe wrote: post #57
kingnothing wrote: post #38

Earlier quoted context omitted.

The US is in a recession. It has seen two quarters of negative economic growth.

Unemployment is at a historic low, which is not typical of a recession.

I believe it's typical before a recession though :D

Re: How much have tech layoffs affected engineers vs. other departments?

#105

Post by PragmaticPulp »

adam_arthur wrote: post #89

This is likely to be the recession that halts the rapid inflation in tech wages. Rising risk free rate has hit growth companies the hardest, and there are likely to be a large swath of layoffs right as we have tons of people bootcamping and switching into the industry. Supply and demand of labor in tech will enter balance for the first time since ~2010. The FFR is looking to have a reasonable chance to go to 5% at th…

> This is likely to be the recession that halts the rapid inflation in tech wages.

I think the transition to remote combined with the recession will put a damper on high tech salaries. I've already started seeing pressure from our executives to explore more hiring of remote workers to cut costs further.

Re: How much have tech layoffs affected engineers vs. other departments?

#106

Post by kyleblarson »

colinmhayes wrote: post #59
the_lonely_road wrote: post #49

Earlier quoted context omitted.

This is a pointless battle. There is a US election this year so there is zero chance a recession will be admitted until mid November regardless of facts on the ground.

US gov uses a non-partisan third party think tank to officially declare recessions.

If you believe there exists a "non partisan third party think tank" I have a bridge to sell you in Arizona.

Re: How much have tech layoffs affected engineers vs. other departments?

#107

Post by theteapot »

imwillofficial wrote: post #74
hitpointdrew wrote: post #30

Earlier quoted context omitted.

Never even knew it existed until just now. I feel like am not in the minority. Weird that the author assumes this is some well known site.

Its a very well known site

Within your bubble.

Re: How much have tech layoffs affected engineers vs. other departments?

#108

Post by nostromo »

RC_ITR wrote: post #41
kingnothing wrote: post #38

Earlier quoted context omitted.

The US is in a recession. It has seen two quarters of negative economic growth.

I feel like a broken record but, the 'Two quarters' rule is an unofficial metric that does a bad job of representing recessions when you back-test it (no recessions from 1992-2008 in that case). In the US, a recession is defined by NBER after the fact.

> In the US, a recession is defined by NBER after the fact.

This isn't true. There is no "official" declaration of recessions in the US by law. Yes, some federal officials will reference NBER, but that's not the same thing.

Bar far, the most common definition used worldwide is two quarters of negative growth -- and by that definition we're already in a recession.

NBER itself has never not declared a recession after two quarters of negative growth.

I think a lot of folks don't even know that NBER isn't a government organization. It's a private non-profit with a bunch of self-appointed academics that don't even publicly disclose their meeting notes or their criteria for what a recession is. People treat them like the Oracle of Delphi and it's very misplaced.

Re: How much have tech layoffs affected engineers vs. other departments?

#109

Post by jmknoll »

illusiveman wrote: post #92
yulaow wrote: post #26

Earlier quoted context omitted.

Actually it's the opposite. I am done with dapps and blockchain development and just looking for fullstack (preferring only backend when possible) typescript/golang positions. I am getting a good amount of recruiters contacting me for blockchain related positions but every single time I speak with them their projects are so ridiculously stupid I am flabbergasted that they got investors. "Normal web dev" recruiters? J…

I used to have 2 requests a week on average on Hired. Now, my profile has expired twice without a single request. Definitely, something is wrong with that service. Guess fewer companies are using it. By contrast, it's odd the day I don't get a message on LinkedIn.

I've had good experiences with Hired in my current and previous job searches. While there are a couple of companies (the usual suspects) who use it to send out the same recruiter spam that they send elsewhere, I've mostly gotten targeted reach-outs for pretty solid roles. I'm actually starting a job next week that I found with them. LinkedIn, by comparison, is just a constant stream of unsolicited garbage.

Re: How much have tech layoffs affected engineers vs. other departments?

#110

Post by andirk »

jesuspiece wrote: post #50
walshie4 wrote: post #27

The fact that snap's web3 team being cut is one of the listed examples is pretty comical IMHO.

yea like no shit the web3 fat got cut first lol. anyone with eyes could see through all the people selling shovels in a gold rush

They also cut their AR wing. Sounds like they're going back to their laurels: d** pics.
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