Bosch aims to cut 1,200 jobs in software division by end 2026

Post by shardik » Thu, Jan 18, 2024, 9:45 PM UTC

joshuamcginnis wrote: post #30

joshuamcginnis wrote: post #4

How does one reconcile the numerous tech layoffs[0] with the fact that "US Jobless Claims Plunge to 187,000, Lowest Since September 2022"[1]? Is non-tech sector hiring making up for the tech losses? A chief US Economist is quoted: I would not take this result literally, but, at a minimum, it seems clear that layoffs remain quite low and are not trending higher in a meaningful way, he wrote in a note. From what I'm he…

According to the U.S. Bureau Of Labor Statistics, there are approximately 1.8M software devs in the US. Layoffs.fyi shows about 8K layoffs this year, which is only about .4% of the total market. Crude calculation but telling. https://www.bls.gov/ooh/computer-and-information-technology/...

Post by doubloon » Thu, Jan 18, 2024, 11:41 PM UTC

joshuamcginnis wrote: post #29

tekla wrote: post #10

Earlier quoted context omitted.

Large sectors of the tech industry simply don't interact with the broader economy as a whole and was propped up by low interest rates and free VC money. Once free money went away, everyone realized they actually need to make money and couldn't just sit on a army of developers not doing much to make money. The economy as a whole is doing great according to pretty much every single measure.

> The economy as a whole is doing great according to pretty much every single measure. What about inflation? Office vacancies (and the looming debt crisis)? The national debt and interest? Stagnant wages? Housing affordability? Low birth rate? Just to name a few.