"If you've identified yourself with your salary, which a lot of people do, and if you identify yourself with working for a glamorous company like a Microsoft or Google or Meta, then your identity is taking a hit," Laurie Swanson, a career coach and a recruiter at InspiHER Tech, said.
Now, things are changing, and the world of posh perks and eye-popping salaries that zealous investors supported is. Companies have let go of around 100,000 employees already this year, more than half of what they shed in 2022, according to Layoffs.fyi, a website that tracks layoffs in the technology sector. Companies like Google, Meta, Microsoft, and Amazon shed over 50,000 jobs in total, with all companies claiming that they over-hired during the height of the pandemic.
"The feeling was that it is so exceptionally, incredibly, out-of-this-world good," Reyhan Ayas, a senior economist at the workforce-intelligence company Revelio Labs, said."I feel like that's been brought down to earth." Understanding how Silicon Valley culture gave birth to a certain kind of overindulged tech worker starts with a history lesson.
what's new? previously it was those in finance and banking. now it's tech sector. next it will be those which the money flows into and inflate the shares price to crazy valuations.
are you jealous? AFAIK insider business does not provide that to their employees
Oh yes, blame the workers instead of the irresponsible multibillion dollar companies that treat their workers as disposible assets as they mindlessly overhire just to fire later on
or making them down to earth?
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Laid-off Google manager aims to set up new company with 6 ex-colleaguesA Google manager who got laid off liked working with his colleagues so much he's trying to set up a new company with 6 of them Nice move 👍 True story. 😁
Source: BusinessInsider - 🏆 729. / 51 Read more »