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Layoffs are always counter-productive as going forward employees take fewer risks, to evade being the one laid off. Layoffs kill innovation.
That's bad news for the IT jobs market. The big tech companies are firing people - those people will have no problem finding another job, but that's a job taken away from more average folks. Combined with high interest rates, that prevent businesses from starting new projects financed through credit. Also ChatGPT and other AIs increasing developers, artists, etc. productivity - so fewer people can do as much work. Pr…
> Also ChatGPT and other AIs increasing developers, artists, etc. productivity - so fewer people can do as much work.
This is the sort of thing that increases demand for IT. Company had 40 artists and two IT staff, now they can get by with 10 artists but three IT staff, because IT has more work to do supporting the AI stuff.
AI has increased productivity which might be a reason for it
AI has increased the perception of productivity to unwitting managers, which is a dangerous pit to be falling into. It's like a lot of those fabled 10x engineers that I've run into over the years; they may seem like they're incredibly productive and managers love them, but in reality their work is so riddled with issues and rushed half-baked ideas, that they end up costing the other engineers on the team 10x the amou…
My firm made billions last year too and just laid off hundreds of engineers (a decent %) Some of the best engineers, those that I respected the most, went. People who make no sense. After last year's layoffs they told us they were "done" and it was "all behind us". Last year then turned out to a better year financially than 2022 (we have access to the top line numbers) You can't trust anything anyone above you in the…
Layoffs are always counter-productive as going forward employees take fewer risks, to evade being the one laid off. Layoffs kill innovation.
Interesting point but I don't think it's that clear cut. Twitter/X seemed to increase the pace of product changes directly after laying of the majority of its employees after Elon Musk took over. Also, when Steve Jobs returned to lead apple in 1997 he fired a significant fraction of the company before starting an incredible period of innovation. So I think a lot depends on the leadership and incentive structures.
Layoffs are always counter-productive as going forward employees take fewer risks, to evade being the one laid off. Layoffs kill innovation.
The world’s most valuable company comes to mind.
> laid off employees who worked on ... the Pixel phone. That sounds weird to me. Pixel phones has grown very fast in the last years and I don't se how it can be seen as anything but a great success.
Every year they'll say "we're serious this time" and promise to dump money into marketing, but it really goes nowhere and carriers continue to push other phones.
My firm made billions last year too and just laid off hundreds of engineers (a decent %) Some of the best engineers, those that I respected the most, went. People who make no sense. After last year's layoffs they told us they were "done" and it was "all behind us". Last year then turned out to a better year financially than 2022 (we have access to the top line numbers) You can't trust anything anyone above you in the…
And you know what happens with the money that you take, save and invest? They go in to public companies, they hire MBA's, and they try to improve profitability of company by letting engineers go. Your money have come a full cycle :)
Earlier quoted context omitted.
And you know what happens with the money that you take, save and invest? They go in to public companies, they hire MBA's, and they try to improve profitability of company by letting engineers go. Your money have come a full cycle :)
TINA when CPI inflation (in the UK) is has been 18% in just 2 years.
The UK inflation rate was 3.9 percent in November 2023, down from 4.6 percent in the previous month. Between September 2022 and March 2023, the UK experienced seven months of double-digit inflation which peaked at 11.1 percent in October 2022. https://www.statista.com/statistics/306648/inflation-rate-co...
> laid off employees who worked on ... the Pixel phone. That sounds weird to me. Pixel phones has grown very fast in the last years and I don't se how it can be seen as anything but a great success.
It seems that this year Pixel lost.