Alarm Bells Ringing: November 2023 Tech Layoffs & Government Disconnect

[Anonymous]

Anonymous wrote:
We may still suffer a crash and recession, but it will come from real estate issues (just like in China).

The tech sector is notoriously fickle, so I wouldn't base your predictions on it. I've observed a slump in biotech research, personally. But that's a niche area. My concern is mainly commercial real estate affecting the economy.

I know your post is mainly trying to agitate against one political side, but that's nonsense. Both Trump and Biden pumped huge sums into the economy to get out of the pandemic doldrums. No country is doing as well as the US, frankly. If we suffer something more serious, it won't be due to one party or the other. It will be due to China's real estate crash and subsequent banking rout, and real estate fragilities in the US market together with various energy-related wartime pressures.

The real concern, IMHO, is that inflation is badly hitting too many people regardless of low unemployment figures. Real incomes are lower than a few years ago and the cost of essentials keeps going up or remaining stubbornly high. The tremors in the economy have to do with this.

[Anonymous]

Anonymous wrote:OP, where are these layoffs happening?

Http://www.linkedin.com/news/story/layoffs-latest-firms-making-cuts-5273825

[Anonymous]

Anonymous wrote:

Anonymous wrote:
We may still suffer a crash and recession, but it will come from real estate issues (just like in China).

The tech sector is notoriously fickle, so I wouldn't base your predictions on it. I've observed a slump in biotech research, personally. But that's a niche area. My concern is mainly commercial real estate affecting the economy.

I know your post is mainly trying to agitate against one political side, but that's nonsense. Both Trump and Biden pumped huge sums into the economy to get out of the pandemic doldrums. No country is doing as well as the US, frankly. If we suffer something more serious, it won't be due to one party or the other. It will be due to China's real estate crash and subsequent banking rout, and real estate fragilities in the US market together with various energy-related wartime pressures.

The real concern, IMHO, is that inflation is badly hitting too many people regardless of low unemployment figures. Real incomes are lower than a few years ago and the cost of essentials keeps going up or remaining stubbornly high. The tremors in the economy have to do with this.

So? It's the 2009-2020 years that had abnormally low inflation and interest rates, OP. They're not going to get as low again in your lifetime, probably. And yet we haven't been lurching from recession to recession outside of those times. You don't seem to have any sort of historical context for your complaints.

Also, economic cycles are a part of life. You will probably live through many, but right now no one can predict the turn the economy will take in a year, not even the Federal Reserve or any experts. We're in new post-pandemic territory with regional conflicts popping up and China struggling with over-extension in real estate lending, and maybe looking to start another conflict just to distract itself. Very, very hard to predict what's going to happen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, where are these layoffs happening?

Http://www.linkedin.com/news/story/layoffs-latest-firms-making-cuts-5273825

The article is a compilation of relatively tiny numbers of layoffs. Anybody ever notice when company announces layoffs, the stock price jumps up? Lol

If the OP is referring to FAANG, those companies overhired during covid and are merely dialing it back. They still have more employees than before covid.

[Anonymous]

“ChatGTP...write an article on tech layoffs”

[Anonymous]

Anonymous wrote:

Anonymous wrote:
We may still suffer a crash and recession, but it will come from real estate issues (just like in China).

The tech sector is notoriously fickle, so I wouldn't base your predictions on it. I've observed a slump in biotech research, personally. But that's a niche area. My concern is mainly commercial real estate affecting the economy.

I know your post is mainly trying to agitate against one political side, but that's nonsense. Both Trump and Biden pumped huge sums into the economy to get out of the pandemic doldrums. No country is doing as well as the US, frankly. If we suffer something more serious, it won't be due to one party or the other. It will be due to China's real estate crash and subsequent banking rout, and real estate fragilities in the US market together with various energy-related wartime pressures.

The real concern, IMHO, is that inflation is badly hitting too many people regardless of low unemployment figures. Real incomes are lower than a few years ago and the cost of essentials keeps going up or remaining stubbornly high. The tremors in the economy have to do with this.

I’ve been to a couple of financial presentations and what the analysts keep saying is that consumers keep buying. If people are feeling pinched they need to cut back on spending which will slow the economy and make the fed dial it back. People are complaining about inflation but they still aren’t cutting back, except maybe in residential home purchases. I’m about to get quarterly updates and I’m really curious to see the numbers. I’ve also been surprised by how uneven the inflation is …. It was food for a while but then it was mostly energy. Yet people are still driving and flying so I guess that demand is inelastic? It all seems a bit weird.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP, where are these layoffs happening?

Http://www.linkedin.com/news/story/layoffs-latest-firms-making-cuts-5273825

Boggles the mind.

Panera will lay off 17% of its 18,000 corporate employees, The Wall Street Journal writes, as it seeks efficiency ahead of a potential IPO.



Panera has 18,000 corporate employees? For what? Ordering supplies? Dealing with taxes? Payroll? HR?

That's ridiculous.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, where are these layoffs happening?

Http://www.linkedin.com/news/story/layoffs-latest-firms-making-cuts-5273825

Boggles the mind.

Panera will lay off 17% of its 18,000 corporate employees, The Wall Street Journal writes, as it seeks efficiency ahead of a potential IPO.



Panera has 18,000 corporate employees? For what? Ordering supplies? Dealing with taxes? Payroll? HR?

That's ridiculous.

easy to complain until its you

[Anonymous]

Where did OP copy and paste this gibberish from?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
We may still suffer a crash and recession, but it will come from real estate issues (just like in China).

The tech sector is notoriously fickle, so I wouldn't base your predictions on it. I've observed a slump in biotech research, personally. But that's a niche area. My concern is mainly commercial real estate affecting the economy.

I know your post is mainly trying to agitate against one political side, but that's nonsense. Both Trump and Biden pumped huge sums into the economy to get out of the pandemic doldrums. No country is doing as well as the US, frankly. If we suffer something more serious, it won't be due to one party or the other. It will be due to China's real estate crash and subsequent banking rout, and real estate fragilities in the US market together with various energy-related wartime pressures.

The real concern, IMHO, is that inflation is badly hitting too many people regardless of low unemployment figures. Real incomes are lower than a few years ago and the cost of essentials keeps going up or remaining stubbornly high. The tremors in the economy have to do with this.

I’ve been to a couple of financial presentations and what the analysts keep saying is that consumers keep buying. If people are feeling pinched they need to cut back on spending which will slow the economy and make the fed dial it back. People are complaining about inflation but they still aren’t cutting back, except maybe in residential home purchases. I’m about to get quarterly updates and I’m really curious to see the numbers. I’ve also been surprised by how uneven the inflation is …. It was food for a while but then it was mostly energy. Yet people are still driving and flying so I guess that demand is inelastic? It all seems a bit weird.

What's weird about it? If you are doing well and you're salary has increased to reflect inflation and you have a locked in mortgage at sub 3% rates, times are great. If even one of those aren't true, then times are not so great. There is a reason that so many industries are pivoting away from middle class to upper middle class customers, be it automobiles or travel or real estate.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I work in IT as a government contractor and have seen exactly 0 layoffs. The people who are being laid off are probably over paid. Fact is, I am constantly trying to hire folks and there’s no one applying.

I am laid off and looking for a job (Ex-FAANG). Can you please share the link to the job opening and I'll apply. Appreciate your timely help

Will you accept a job making $150k?

[Anonymous]

Anonymous wrote:For people citing general job numbers, it’s been known for some time that any recession is likely to impact white collar jobs more than the blue collar or service sector.

While tech isn’t know for stability, it has been known for a booming job market that allows workers to move around freely and find new high paying jobs easily. It does sound like that isn’t so much the case these days, especially on the sales side, etc.

Right the fleece vest recession

[Anonymous]

Anonymous wrote:

Moreover, the Federal Reserve's high interest rate policy is adding fuel to the fire. It's clear that these measures, supposedly aimed at curbing inflation, are having severe repercussions on the job market. We need a reassessment of these policies, and we need it urgently. The current approach is not sustainable, and continuing down this path could lead to even more devastating consequences for the workforce.

We need to confront the reality of these tech layoffs head-on and demand changes in economic policy that genuinely address the needs and concerns of the working population. This isn't just a matter of statistics and economic indicators; it's about real people whose livelihoods are at stake.

Newsflash - the fed is trying to cause a recession, they just can’t say it.

The last few years everything has been in a bubble - housing, price of Rolexes, bitcoin, etc - due to low interest rates of the last decade. It didn’t cost any money to take financial risks.

Take a look at the multitude of tech companies who never actually made any money but we’re able to survive due to ZIRP.

All this is slowly being shaken out with more to come. High interest rates are healthy for the economy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Moreover, the Federal Reserve's high interest rate policy is adding fuel to the fire. It's clear that these measures, supposedly aimed at curbing inflation, are having severe repercussions on the job market. We need a reassessment of these policies, and we need it urgently. The current approach is not sustainable, and continuing down this path could lead to even more devastating consequences for the workforce.

We need to confront the reality of these tech layoffs head-on and demand changes in economic policy that genuinely address the needs and concerns of the working population. This isn't just a matter of statistics and economic indicators; it's about real people whose livelihoods are at stake.

Newsflash - the fed is trying to cause a recession, they just can’t say it.

The last few years everything has been in a bubble - housing, price of Rolexes, bitcoin, etc - due to low interest rates of the last decade. It didn’t cost any money to take financial risks.

Take a look at the multitude of tech companies who never actually made any money but we’re able to survive due to ZIRP.

All this is slowly being shaken out with more to come. High interest rates are healthy for the economy.

Interest rates aren’t even high. They are at historical norms. The last decade was the aberration.

[Anonymous]

the tech sector is always very volatile..what are you smoking? been this way since the 90s.