Your reverend here works in tech, and I'd like to comment on the tech layoffs.
This one feels a lot like social contigation, as folks discussed. There was less warning than I normally see. It feels like bandwagon-jumping.
@Xenofact
From what I've seen, a lot of these companies went wild with hiring remote workers during COVID, and now don't see a need for such a large workforce. It's a shame, really. Because keeping good talent is important. But their profits matter more to them.
@ArcturusSaDiablo I normally talk more "fun" things on this account, but to get seriously they screwed themselves.
COVID had a devestating effect on the population and brought a lot of economic shifts. They're going to have a harder time hiring.
@Xenofact
Indeed. And I too know a lot of people in the IT field. I follow this closely.
@ArcturusSaDiablo glad to meet someone else who follows these trends. Because yeah, its rarely what it seems in casual reporting.
When well paying positions that aren't too overspecialized sit unfilled for a year, you got issues.
@Xenofact #techlayoffs
I got caught in the dot com bust in the 1990s when I worked for a CMGI subsidiary.
Hopefully, we're not going to lose over a million jobs in tech as happened then.
I do remember then scratching my head over the disparity between what was being paid out vs what was coming in and thinking it couldn't go on for long at that rate.
Apparently Twitter has severe cash flow problems.
And yes, some of it may be bandwagon-jumping.