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Does the rise in the layoff chart mean that it is now harder to raise money? If yes, then to what extent?
Some VCs are telling their companies to not expect to raise another round in 2022.
Where are people moving their money to?
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9 months is an absolutely stupidly long for an EU position. The pay is so meh that it is not worth it
I've generally taken at least that long looking for new jobs. It depends on whether you want /a/ position, or /the/ position. My past few jobs have been perfect fits for my background and interests, and I genuinely enjoyed work. A random SWE position is petty fungible. Perfect fits are rare. Markets are pretty inefficient too, so you can command better salary or benefits, if you want.
Put yourself into a situation where you can take your time, then take it. You are responsible for making your own reality.
The chart gives an impression that most of these happened in Q1-2 of 2020 and everything has more or less settled since then. Or am I missing something?
Some of the more recent names I recognise on the layoffs.fyi list are Zillow, Peloton and Robinhood. These have all had unique, headline-making difficulties so perhaps they don't reflect the market as a whole.
It's hard to believe the good times will continue to roll even in the tech sector though. The boost that some parts of the industry received from profound lifestyle changes on a societal scale caused by COVID is history and the boom in tech stocks is long past with widespread and sometimes very large corrections since.
Now the entire global economy is surely going to take a big hit. Some sort of normal life returns but the costs of the economic damage from the virus itself and the huge support schemes many governments put in place come due. The actions of certain belligerent leaders aren't helping. All of this will surely dampen investment so say goodbye to the kind of crazy startup that gets way more funding than it really needs and goes on a huge hiring campaign because it doesn't know what else to do with the money.
I'm afraid some relatively young people in the software industry who think it's normal to job-hop every few months for a double-digit salary raise and to double-or-more their base through stock and bonuses may be about to learn a brutal lesson just as some of us older devs did in the GFC or dot-bomb eras before.
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Good for you that you are so sure. Now you can short some stocks and make easy money. Boy is this not financial advice...
Deutsche Bank already made it very clear that according to their analysts there will be a significant recession in the US this or next year
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We only need to go back a couple of years to mid 2020 when every company was laying people off. Layoffs.fyi was tracking multiple new rounds every day. I fear what is coming is going to be that or worse.
What are you doing to prepare?
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We only need to go back a couple of years to mid 2020 when every company was laying people off. Layoffs.fyi was tracking multiple new rounds every day. I fear what is coming is going to be that or worse.
What are you doing to prepare?
If that's not currently the situation try to cut back expenses where you can to reach that state (to a reason), and imo even on the expense of 401k contributions (but please remember to start again once you have enough cash).
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Good for you that you are so sure. Now you can short some stocks and make easy money. Boy is this not financial advice...
Amazon is down 30%, and the sorts of tech companies that will be populating this list are already down anywhere from 50% to 90%. However, the biggest pain to come is private market startups. An easy call to make, simply because you can't directly profit from it, which lets the inefficiency persist. For now.
Earlier quoted context omitted.
What are you doing to prepare?
Have enough cash to keep you afloat for at least 6+ months of unemployment. If that's not currently the situation try to cut back expenses where you can to reach that state (to a reason), and imo even on the expense of 401k contributions (but please remember to start again once you have enough cash).