from Hacker News

Ask HN: Layoffs – how bad are things really?

by nvln on 1/20/23, 9:14 PM with 3 comments

I've been removed from Tech over the past year or so. How bad are things really?

1. Is this just companies trying to reset the pandemic-era tech salaries and inflated workforce to sustainable levels?

2. Is this a sign of a prolonged recession and hiring freeze signalling the end of the software tech boom?

3. Are those that are getting laid off finding jobs (even if it means reduced compensation)?

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Is there a way to attribute a significant part of the slow down to any particular event (Pandemic, War, Crypto crash)?

  • by ianceicys on 1/21/23, 2:43 AM

    1) I'm sure every one of these companies got 0% interest rates in 2021 and 2022 from the Federal Reserve. I'm going to wager that the terms of those interest rates had certain hiring quotas. Now that interest rates have increased, I'm sure that the Fed now has lay off quotas.

  • by jleyank on 1/20/23, 9:33 PM

    Per (1) it might be enduring some pain to wring wfh out of the system and get the workers back into their pens.

  • by bakioka on 1/20/23, 9:27 PM

    Yes to 1 and 3. Hard no for 2.