It's hard to see the constant slew of layoffs. I do suspect though that most employees would jump ship if they received a better offer from elsewhere - thus it shouldn't be a shock that it works the other way too.
Do you think salaries in tech are going to drop as a result of more people competing for fewer jobs?
I wonder what’s happening to all these people who are laid off these days. There are so many layoffs yet unemployment is still pretty low. Do people switch to other careers or there was so much pent up demand for knowledge workers that they don’t find it difficult to land another job?
Hi! I was made redundant last year. I saw it coming as I was privy to financial info and spending 2-3 bucks per dollar of revenue was hardly a recipe for success. Management cut in G&A because it's an easy target followed by whoever had targets/quotas. I found it disappointing that PMs and (glorified) R&D were spared when they performed well below what should be considered "nominal". The issue is that most people usually don't see cuts coming because they believe the quarterly BS from management and they don't have access to financial info. As a result, they are unprepared, things then get unnecessary emotional and they cant negotiate their severance appropriately ...
Yeah, if management is not transparent with financial performance then it could be a surprise for most. Revenue misses, low forecasted revenue, and bad unit economics are the most clear indicators.
Great read! Thank you for this, it was very informative👍
Thanks!
It's hard to see the constant slew of layoffs. I do suspect though that most employees would jump ship if they received a better offer from elsewhere - thus it shouldn't be a shock that it works the other way too.
Do you think salaries in tech are going to drop as a result of more people competing for fewer jobs?
I wonder what’s happening to all these people who are laid off these days. There are so many layoffs yet unemployment is still pretty low. Do people switch to other careers or there was so much pent up demand for knowledge workers that they don’t find it difficult to land another job?
Hi! I was made redundant last year. I saw it coming as I was privy to financial info and spending 2-3 bucks per dollar of revenue was hardly a recipe for success. Management cut in G&A because it's an easy target followed by whoever had targets/quotas. I found it disappointing that PMs and (glorified) R&D were spared when they performed well below what should be considered "nominal". The issue is that most people usually don't see cuts coming because they believe the quarterly BS from management and they don't have access to financial info. As a result, they are unprepared, things then get unnecessary emotional and they cant negotiate their severance appropriately ...
Yeah, if management is not transparent with financial performance then it could be a surprise for most. Revenue misses, low forecasted revenue, and bad unit economics are the most clear indicators.