That sounds like stack ranking, which is a whole other kettle of fish.
Do they consider it “unregretted” attrition?
Salesforce laid off 10% a few weeks ago.
Well in her case, it’s salespeople & I’m assuming it’s easy to determine who’s pulling their weight and who’s dead weight.
Out of curiosity, has anyone heard of mass-layoffs in any non-tech industries lately? As sad as it is, I kind of can understand how the (big) tech sector is a little bloated, but I’m more concerned about other parts of the economy.
I haven’t, but I’m in tech so that’s the industry I follow mostly :\
Goldman Sachs did a few thousand. I work IT in finance and we are expecting layoffs in February probably. I’m hoping it will only be 5%.
Is the title meant to be read as “Big Tech” layoffs or Big “tech layoffs”?
Assuming the latter, here’s a well-maintained tracker:
It probably says something about the times that where during the dot com bust we had fuckedcompany.com, now we instead get the bare facts in an embedded Airtable instead.
Not enough people are miserable. Gotta fix that.
I believe you mean human capital stock.
I always thought the term RIF originated with the US military? It also spawned terms like, “drawdown in forces,” etc.
Or hell, it could have been adopted by the military from someone else just the same. It’s the use of the, “force,” as part of reduction in force that makes me think this.
When I worked at PlayStation they never had layoffs until they finally did, around 2010 or so. First one ever while I worked there. Then they became addicts and started doing them every other year. “Great for morale.”
Wayfair laying off 1750, Google laying off 12000. Bloodbath everywhere.
It’s weird this is happening right after the Twitter bloodbath. In theory it’s all about market forces, but it also seems like tech companies work in sync with one another in hiring and firing as well not in any direct sense, but in a keeping up with “market conditions” sense which leads everyone to make the same decisions at the same time. But crazy billionaires making random decisions are also market forces.
Sucks for the senior Twitter people to have left right as the world falls apart in the industry while the kids who pledge themselves to eternal servitude to Lord Musk get a job.
Quarterly earnings are due soon, so they’re all trying to put a spin on “failure to meet analyst forecasts.”
Or more appropriately, revenue is going to drop (it was always going to drop) and late-stage capitalism demands infinite growth.
On the way to bankruptcy with Bed Bath and Beyond. Maybe just skip this step and cut to the end of the story.
It seems to me most corporate leadership is only worried about the next quarter, maybe the next two. Because that’s what investors demand. So do whatever you need to do to plump up your Q1/2 numbers and damn the long-term consequences. That’ll be someone else’s problem.
I should have finished reading the thread before responding, you already made the point. :)