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The tech downturn seen through Hacker News comments

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Re: The tech downturn seen through Hacker News comments

#21
This trues up with what I'm anecdotally seeing in my clients. RTO-3 days or even RTO-5 days is being pushed aggressively in some of them, and the general feeling amongst their rank and file is it is a stealth layoff (no severance for those leaving due to the policy switch is a big financial incentive for the companies). A big challenge I'm not seeing really addressed though is a lot of staff at my clients stepped up big time to do more with less during the pandemic and put in more than full time hours, reasoning that they'll just work during what normally would have been their commute time. That slack their companies enjoyed is now being yanked out of the ecosystem as many simply don't have more to give once they start commuting again. Quite a few put in even put in way more.

I saw this organically happen both pre- and post-pandemic. Pre-pandemic, it was rare if a Slack or email I sent to client staff was answered off hours. During the latter half of the pandemic and post-pandemic with those in WFH situations, it became much more common as staff learned to communicate all the time during brief idling periods while going about their off hours days and evenings. I'm going to miss this low-latency communication, but it is what it is.

If this is an actual secular trend instead of mere n=1 anecdata, then it will stack on the demographic trend baked in of ever-fewer workers for the next 20-odd years (assuming there is a baby boom in the next 3-4 years, which by current family and household formation statistical trends is still looking unlikely).

Re: The tech downturn seen through Hacker News comments

#22

Earlier quoted context omitted.

The downturn is hitting all companies and all jobs. It’s bad out there. What’s perverse, and not being discussed enough, is that this is an engineered recession. Rather than admit our economy no longer works, the Fed can alternate between low and high interest rates (inflation or unemployment, take your pick) and so, even though bad things are happening, the fact that it’s different bad stuff each year makes it look…

> Rather than admit our economy no longer works What do you mean our economy no longer works?

Supply side got everything they wanted but the evidence is in: what trickles down is piss, not money.

Re: The tech downturn seen through Hacker News comments

#24
post #16

We have an expected attrition rate at my company across all departments. We normally lose about 10 people per quarter. This quarter the number of people leaving - zero.

I've seeing a higher than normal attrition rate. Unemployment rate among tech workers stays absurdly low, went down to 1.5% last month: https://www.usatoday.com/story/money/economy/2023/02/07/tech...

How do they calculate this rate? I simply left the country after layoff, and most likely not counted in the numbers.

Re: The tech downturn seen through Hacker News comments

#25
I did some application tests recently. I don't think I can even get an interview right now. Maybe if I tried python/node/javascript/ruby I could, but typed languages are tight competition for not many offerings.

Update: Actually just got an interview so it's not so so bad.

Re: The tech downturn seen through Hacker News comments

#26

It's peculiar how the remote jobs graph follows the total graph so closely? Wouldn't you expect to see more noise?

If you graph the % I think it'd look more noisy, at least when I look carefully it's not actually following it as close as it feels when I first look at the graph.

Re: The tech downturn seen through Hacker News comments

#27
post #17
post #10

Earlier quoted context omitted.

No, they're following the same trend. Remote jobs are consistently 75 % - 80 %.

That seems absurdly high if you're talking about fully remote.

There's probably a bias given that this is a website with global reach. For any company posting, almost all readers are not living nearby.

Re: The tech downturn seen through Hacker News comments

#28

This trues up with what I'm anecdotally seeing in my clients. RTO-3 days or even RTO-5 days is being pushed aggressively in some of them, and the general feeling amongst their rank and file is it is a stealth layoff (no severance for those leaving due to the policy switch is a big financial incentive for the companies). A big challenge I'm not seeing really addressed though is a lot of staff at my clients stepped up…

I’m fully remote atm and checks slack when I’m off work all the time. If I were to commute 50 mins each way, I wouldn’t be looking at slack after work for sure, hell even 10min commute will make me dislike my job, just thinking of having to get up early to walk my dog..

Re: The tech downturn seen through Hacker News comments

#29
post #17
post #10

Earlier quoted context omitted.

No, they're following the same trend. Remote jobs are consistently 75 % - 80 %.

That seems absurdly high if you're talking about fully remote.

We're talking about advertising for jobs on Hacker News. Maybe there is just not much value to advertising location-specific jobs in these threads.

Re: The tech downturn seen through Hacker News comments

#30
post #16

Earlier quoted context omitted.

I've seeing a higher than normal attrition rate. Unemployment rate among tech workers stays absurdly low, went down to 1.5% last month: https://www.usatoday.com/story/money/economy/2023/02/07/tech...

How do they calculate this rate? I simply left the country after layoff, and most likely not counted in the numbers.

The US BLS has 6 different unemployment measures. The one that's usually quoted is U-3 which means unemployed but seeking work. But if you left the country, I assume you're not counted in any unemployment measurement. (Though I also assume that's a sufficiently unusual edge case that it doesn't really move the needle on any of the statistics.)
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