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https://www.forbes.com/sites/jackkelly/2022/11/21/alphabet-s...
https://www.forbes.com/sites/jackkelly/2022/11/21/alphabet-s...
Another multi-billion dollar company making billions of dollars of profit dumps thousands of staff on the streets. There are two approaches here. Firstly, attrition, simply don't replace those that leave. Given the sheer size of the company, a hiring freeze and attrition would gradually reduce the size of the workforce. I'd be astonished if a company with a market cap of $1.2 trillion would be likely to collapse if i…
You need to have control over which roles / projects you're gonna downsize.
I think the impact on VC is probably more direct, but, given what is happening all over FAANGs, I would imagine there could be some causal relation there, too?
Google had 156,500 full-time employees in 2021, an increase of nearly 16% year-over-year as compared to the 135,301 full-time employees in 2020. Google's pace of hiring was also torrid in the second quarter of 2022 as the company added 10,000 new employees to its 163,906 workforce - that is only through to July 2022. These "Layoffs" are awful for individuals, but they are simply a sign that they went on a hiring spre…
I guess someone has to write this comment: > I take full responsibility for the decisions that led us here As usual, he says nothing more what the consequences for him are. It seems like all of the FAANGs have made severe strategic cockups when it comes to hiring lately. I wonder if it will affect their longterm attraction as employers.
> It seems like all of the FAANGs have made severe strategic cockups I’m becoming more and more convinced that they’re preparing for a global recession. I posed such an Ask HN a while ago, before the Microsoft layoffs, where the general takeaway was that there’s no indication for a recession. However, after the 10+12K layoffs by the giants, and constant news about smaller layoffs by smaller companies (in the 100s per…
People have no context for these layoffs. This is not a "recession layoff". This has nothing in common with 2009, which I suppose many of you are too young to remember.
In 2009, we lost a million jobs to layoffs in one month. You'd turn on the news and see 200k jobs disappear in front of your face, so you'd turn it off.
The big tech companies laying off 1/5 of the pandemic boom hires is not a recession to me.
Alphabet staff:
2018 98771
2019 118899
2020 135301
2021 156500
2022 186779
2023 174000?*
Earlier quoted context omitted.
I had a new job lined up roughly a week after they broke the news to me. The tradeoff is that I took a 37% reduction in salary. Easily worth it. Everyone else is being laid off all around me, while I kick back and fire up a bunch of A100s for ML research. The best part is that I didn’t have to do any damn leetcode interviews. I went back and forth on whether to post this, since it feels like I’m an outlier and maybe…
> I went back and forth on whether to post this, since it feels like I’m an outlier and maybe not relevant. To anyone wondering whether to share your personal experience, please do; comments like this one are my favourites.
Another multi-billion dollar company making billions of dollars of profit dumps thousands of staff on the streets. There are two approaches here. Firstly, attrition, simply don't replace those that leave. Given the sheer size of the company, a hiring freeze and attrition would gradually reduce the size of the workforce. I'd be astonished if a company with a market cap of $1.2 trillion would be likely to collapse if i…
Seems like Big Money wants a recession.
I guess someone has to write this comment: > I take full responsibility for the decisions that led us here As usual, he says nothing more what the consequences for him are. It seems like all of the FAANGs have made severe strategic cockups when it comes to hiring lately. I wonder if it will affect their longterm attraction as employers.
> It seems like all of the FAANGs have made severe strategic cockups I’m becoming more and more convinced that they’re preparing for a global recession. I posed such an Ask HN a while ago, before the Microsoft layoffs, where the general takeaway was that there’s no indication for a recession. However, after the 10+12K layoffs by the giants, and constant news about smaller layoffs by smaller companies (in the 100s per…
Everyone expects a recession, companies and individuals starts saving and being more frugal, which leads to an actual recession.
Does anyone know what "Outside the US, we’ll support employees in line with local practices." exactly means? In Germany I could imagine it to be "You're fired. Go to the Arbeitsagentur and find a new job". Of course within the legal forewarning period.
it means we will do what law requires. Which is quite a low bar to clear :)