211–220 of 284 posts
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When money is cheap it makes sense to invest in low ROI ideas. When monety stops being cheap it makes sense to stop.
But money is still cheap, at least in the US. The US inflation rate was 6.5% at the end of 2022, and the interest rate was 4.5%. It's just not as cheap.
There was a sentiment in an earlier discussion [0] that this is "a war on tech wages" but for years the argument was that tech will make many other jobs obsolete (which would justify wage growth for tech employees). Remember, e.g., the Jack Ma era and his proclamations that we should all get into arts because tech will take care of the rest? Is the current round of layoffs an admission that the "software will eat the…
But the arts are being automated too lol
MSFT manager of 25+ person team here with no actual heads up on this. The writing has been on the wall for months though from internal comms so this should come as a surprise to no one. No one on my team has any information about this beyond the Satya email, so this is either a "no news is good news" situation (assuming you don't actually want to be laid off), or a poorly executed process. I'm hoping for the former f…
It is a poorly executed process: "... the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3". So employees will have to live with uncertainty for the next three months!
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I mean I don't understand the big announcement in the first place; with a company that large, reducing staff count by 10K can be done organically, simply by not hiring replacements. Which makes me think of two things; one, they want to get rid of very specific people, people who wouldn't quit on their own. And two, that they can't just reduce staff count without an announcement, because staff count is one of those me…
You're absolutely correct about the second one. It's theatre. https://news.stanford.edu/2022/12/05/explains-recent-tech-la... The announcement itself has an "if-by-whiskey" feel to it. On the one hand, they claim to be "aligning cost structure with revenue". On the other hand, they also claim to be investing in "strategic areas for our future". It tries to spin it in a way that appeals to both value and growth invest…
Earlier quoted context omitted.
It is a poorly executed process: "... the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3". So employees will have to live with uncertainty for the next three months!
Maybe they /want/ to see some increase in attrition due to the uncertainty. It's a very rough way of going about that, though.
MSFT manager of 25+ person team here with no actual heads up on this. The writing has been on the wall for months though from internal comms so this should come as a surprise to no one. No one on my team has any information about this beyond the Satya email, so this is either a "no news is good news" situation (assuming you don't actually want to be laid off), or a poorly executed process. I'm hoping for the former f…
It is a poorly executed process: "... the reduction of our overall workforce by 10,000 jobs through the end of FY23 Q3". So employees will have to live with uncertainty for the next three months!
Earlier quoted context omitted.
I keep hearing this, and I would love to believe it, but does anyone have a concrete source that confirms this is the case?
https://www.macrotrends.net/stocks/charts/MSFT/microsoft/num... 163K employees in 2020 to 220K employees in 2022. And they're on the low of the hiring boom.
While obviously bad that seems like... as far as speaking for the entire tech industry not really that bad?
Do you know if the other big tech layoffs followed a similar pattern.
Or am I missing something here.
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If all 10k of these workers get paid an average of $150k, Satya's salary alone would cover 4% of them. I find it hard to believe you couldn't save 5% Do you have any actual numbers on the number of execs vs workers and their salaries?
I just saw a headline yesterday based on a new study which said the average U.S. CEO's compensation is 399 times the average employee. So there's your number. A CEO taking zero would cover less than 400 employees. Also, keep in mind the vast majority of Satya's compensation is in long-term vesting stock options which can become worthless if the stock is lower in four years than it is this year. Also, due to how capit…
That's not our number at all. GP said "executives" which includes a lot more than the CEOs. For all I know 1% of the company could be executives
Earlier quoted context omitted.
You're absolutely correct about the second one. It's theatre. https://news.stanford.edu/2022/12/05/explains-recent-tech-la... The announcement itself has an "if-by-whiskey" feel to it. On the one hand, they claim to be "aligning cost structure with revenue". On the other hand, they also claim to be investing in "strategic areas for our future". It tries to spin it in a way that appeals to both value and growth invest…
TIL: If-by-whiskey