Hacker News Reader

I think people are overreacting.

A lot of larger tech companies started hiring like mad during the past two years because the economy was over juiced. I work at an enterprise and was chatting with my boss about it and she mentioned that there was this idea that companies that weren't hiring were going to fall behind the those that were.

This is those companies undoing all of that panic hiring.

View on HN

Using FAANG to determine the job market is like using Monaco residents to work out the state of the world's wealth. They are outliers with enormous amounts of cash and they can spend in an illogical way to reduce risk that market changes will leave them left behind simply because they can afford to. For most of us in normal businesses earning normal amounts, our jobs are as secure as ever because of supply and demand.

How much is down to knowingly recruiting people you know you might fire later, how much is incompetence on the planning teams and how much is simply that very large companies are hard to manage: that I don't know.

Reply on news.ycombinator.com