The Great Remorse

Thread Starter

nsaspook

Joined Aug 27, 2009
12,839
https://www.yahoo.com/video/great-remorse-takes-over-great-133000047.html
The Great Remorse takes over the Great Resignation as most workers who quit their job are having a hard time finding a new one

https://www.streetinsider.com/General+News/Amazon+(AMZN)+prepares+to+layoff+thousands+of+workers+-+NYT/20844003.html
Amazon (NASDAQ: AMZN) is preparing to lay off around 10,000 people in its corporate and technology segments as soon as this week, according to a report by The New York Times on Monday.

The report states that sources told them the job cuts will be concentrated in Amazon's devices unit, retail division, and human resources. The cuts would represent the largest cut in the company's history.

However, the NYT explained that the total number of layoffs "remains fluid," although if it is around the 10,000 mark, it will represent approximately 3% of the tech giant's corporate employees and less than 1% of its global workforce, which includes hourly workers.
 
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WBahn

Joined Mar 31, 2012
29,883
This whole phenomenon, including the so called "quiet quitting" fad, has never made any sense to me. People decide to do the minimum work they can get away with, while expecting to get the same (or more) pay, and then are shocked when their employer finds someone to replace them that is willing to do more for the same (or less) pay. Gee, who could have possibly seen that coming?
 

MrSalts

Joined Apr 2, 2020
2,767
This whole phenomenon, including the so called "quiet quitting" fad, has never made any sense to me. People decide to do the minimum work they can get away with, while expecting to get the same (or more) pay, and then are shocked when their employer finds someone to replace them that is willing to do more for the same (or less) pay.
I haven't read anywhere that people in those jobs are "shocked" when they get laid off. They are completely expecting it and just looking at the calendar to see how long it took their bosses to realize. But, if you have a citation where an employee (not a reporter's commentary) says "shocked", please post.

Gee, who could have possibly seen that coming?
Umm all the employees who were waiting to be fired for doing the bare minimum (or less).
 

joeyd999

Joined Jun 6, 2011
5,182
This whole phenomenon, including the so called "quiet quitting" fad, has never made any sense to me. People decide to do the minimum work they can get away with, while expecting to get the same (or more) pay, and then are shocked when their employer finds someone to replace them that is willing to do more for the same (or less) pay. Gee, who could have possibly seen that coming?
But it's not fair. Everyone is entitled to a good paying job regardless of experience or competence, and the greedy capitalists are more concerned about their bottom lines than the workers' welfare.
 

Thread Starter

nsaspook

Joined Aug 27, 2009
12,839
https://www.nytimes.com/2022/11/10/technology/big-tech-layoffs.html

Tech’s Talent Wars Have Come Back to Bite It
Hiring the best, the brightest and the highest number of employees was a badge of honor at tech companies. Not anymore as layoffs surge.
When Stripe, a payments start-up valued at $74 billion, laid off more than 1,000 employees this month, its co-founders blamed themselves. “We overhired for the world we’re in,” they wrote. “We were much too optimistic.”

After Elon Musk, Twitter’s new owner, slashed the company’s staffing in half last week, Jack Dorsey, a founder and former chief executive of the social media service, claimed responsibility. “I grew the company size too quickly,” he wrote on Twitter.

And on Wednesday, when Meta, the parent company of Facebook and Instagram, shed 11,000 people, or about 13 percent of its work force, Mark Zuckerberg, the chief executive, blamed overzealous expansion. “I made the decision to significantly increase our investments,” he wrote in a letter to employees. “Unfortunately, this did not play out the way I expected.”
 

SamR

Joined Mar 19, 2019
5,020
A lot of those being laid off are not US workers. They are international programming contractors. They started farming out those jobs long ago as they were far cheaper than US in-house hires. Even when my son was working for Microsoft at their offices in Redmond it was as an in-house contractor, not an MS hire. Don't have to pay benefits to contractors so they are the middlemen between inhouse hires and offshore and out of house contractors. Even after the Covid Work at Home he still works at home as an in-house hire for his company and has moved from Seattle to Savannah, GA so his mamas happy to have him only an hour away now instead of across the continent. Lots of telecommuting going on still. Even in the 90's a lot of the field engineers and techs for tech companies were let go and became contractors.
 

Thread Starter

nsaspook

Joined Aug 27, 2009
12,839
https://slate.com/technology/2022/11/tech-jobs-hiring-amazon-meta-twitter-layoffs.html

Where Will the Thousands of Laid-Off Tech Workers Go?
Many of these coders, engineers, information analysts, designers, and recruiters who flocked to Silicon Valley in the 2010s are now facing a very different job market. Several firms that haven’t announced plans for layoffs are either slowing their hiring or freezing new positions altogether. At the same time, some workers are increasingly concerned about employer ethics and thinking twice about which companies they consider. Plus, any available jobs within the industry aren’t likely to include the same perks they once offered—in-office luxuries, generous financial benefits and leave policy, discounted travel costs—because of lot of those are being slashed, too.
 

panic mode

Joined Oct 10, 2011
2,679
according to some layoffs are unhear of, economy is booming, unemployment is low, store shelves are full and everything is delivered by solar powered trains. so anyone laid off can look at possibility to make solar panels.

but reality, it is a jungle out there, it is a sink or swim ruled by demand and supply. those that do not have marketable skills are to settle for whatever they can get even if it means lowering expectations, changing field etc. nothing new...
 

panic mode

Joined Oct 10, 2011
2,679
apparently so... they are on a lookout for next yoga pants club with free lunch, free vine cooler, flexible hours, work from home and what not. but it is slim pickings for those whose greatest strength was gossip and sipping latte instead of working. guys are much less picky, like challenge and competition and actually know how to program. i would bet my lunch money that two guys from the "with Musk" image will outperform entire room of so called programmers, that were there before them. for any CEO an investor, productivity is the key and some are not afraid to say so. and it is not gender bias, it is sound economic choice to get the best person for the job. those who whine the most about being fired are ones that do not want or cannot do the job, they prefer sheltered life and milking it while doing as little as possible. basically dead wood... which is also why workers used to protection of a union stand little chance in an open market. sure there are exceptions to every rule but stereotypes are not there by accident, they are reinforced time and time again.

 
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Thread Starter

nsaspook

Joined Aug 27, 2009
12,839
https://www.livemint.com/technology...ficiency-as-job-cuts-loom-11674051986907.html
As the jobs cut fears loom large over Microsoft as it announces 10,000 layoffs by the end of the third quarter of fiscal 2023, Chief Executive Officer of Microsoft Corporation, Satya Nadella, said on Wednesday that the sector must learn to be efficient as the demand slows down. Speaking at the World Economic Forum in Davos, Switzerland, Satya Nadella said the world is going to go through a phase where there is normalisation in the demand.
...
It was earlier reported that Microsoft is planning to cut down jobs in engineering divisions, joining the ranks of technology giants that are scaling back as the industry prepares for a prolonged slump. The software giant is forecast to post its slowest revenue increase in years when it reports earnings later this month. Even its star cloud computing segment has begun to wane in the past year.
 

SamR

Joined Mar 19, 2019
5,020
Quite likely the majority of those will be offshore contractors. The majority of MS workers are contractors.
 

Thread Starter

nsaspook

Joined Aug 27, 2009
12,839

Reloadron

Joined Jan 15, 2015
7,458
My son has been with his company going on 20 years. He likes them and they apparently like him. Over the years his responsibilities and pay check have gained nicely. The daughter on the other hand has changed jobs several times and is currently working for The Ohio State University with a nice benefit package and any courses she takes are free. The daughter's daughter (granddaughter) is running on academic scholarship money and any cost to her are 50% off because of her mom's job. Every time the daughter changed jobs it was for better pay and benefits. Neither of the kids ever had to deal with a layoff fortunately.

I was fortunate in that I had a job I really enjoyed with a nice salary pension plan, something we don't see anymore in the private sector. Over all the years there were several offers but I was happy and comfortable right where I was and today I am real happy I stuck around. Today not many companies offer any incentive in the private sector to retain good people. Following WWII my father left the service and spent 30 years with his company and enjoyed his pension and when he passed away our mom received his pension. Those days are sadly long gone. We have those who simply do enough to get by and companies who give no incentive to the good ones.

I figure before all is said and done we will find ourselves in recession, again.

Ron
 

MrSalts

Joined Apr 2, 2020
2,767
My son has been with his company going on 20 years. He likes them and they apparently like him. Over the years his responsibilities and pay check have gained nicely. The daughter on the other hand has changed jobs several times and is currently working for The Ohio State University with a nice benefit package and any courses she takes are free. The daughter's daughter (granddaughter) is running on academic scholarship money and any cost to her are 50% off because of her mom's job. Every time the daughter changed jobs it was for better pay and benefits. Neither of the kids ever had to deal with a layoff fortunately.

I was fortunate in that I had a job I really enjoyed with a nice salary pension plan, something we don't see anymore in the private sector. Over all the years there were several offers but I was happy and comfortable right where I was and today I am real happy I stuck around. Today not many companies offer any incentive in the private sector to retain good people. Following WWII my father left the service and spent 30 years with his company and enjoyed his pension and when he passed away our mom received his pension. Those days are sadly long gone. We have those who simply do enough to get by and companies who give no incentive to the good ones.

I figure before all is said and done we will find ourselves in recession, again.

Ron
It's pretty sad how the slow and steady approach of getting out of the last Great Recession was interrupted by someone putting a heavy hand and threatening the job of the Fed Chairman to force him to lower rates unnecessarily low to goose the market - which contributed to our current inflation and we have a very slim chance of the fed taking us in for a soft landing after pulling their only control lever back after they slammed it forward for the previous four years.

We'll be fine, we always have been and always will be - my only concern is lack of population growth and the dependence of our social security system on the next generation to pay for the current generation's benefit. I'm really surprised no politician is talking about the benefits of immigration - especially immigration of uneducated workers who might fill minimum wage jobs that have been infilled for the past three years. We need more tax payers.

Note: the tech workers are finding jobs at record rates - less than 30 days. The troubled unemployed group is the recruiters working for Google, Amazon and Meta. Three young graduates with HR, Business degrees moved out to SFO to work as recruiters. They now have $3000/month leases on one-bedroom apartments that they must pay with no income.
 
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