Bosch aims to cut 1,200 jobs in software division by end 2026
reuters.com
reuters.com
A chief US Economist is quoted:
I would not take this result literally, but, at a minimum, it seems clear that layoffs remain quite low and are not trending higher in a meaningful way, he wrote in a note.
From what I'm hearing, that sentiment is not in alignment with tech right now.
[1] https://www.msn.com/en-us/money/markets/us-jobless-claims-pl...
How to gather, collate, and publish ?
Retail discount stores. There's a desperate need for guys to stuff the shelves at Carrefour and Target.
Once free money went away, everyone realized they actually need to make money and couldn't just sit on a army of developers not doing much to make money.
The economy as a whole is doing great according to pretty much every single measure.
What about inflation? Office vacancies (and the looming debt crisis)? The national debt and interest? Stagnant wages? Housing affordability? Low birth rate? Just to name a few.
The job market for software engineers seems strong to me overall. I think the devs who struggle are mostly the ones who are trying to get hired by larger established software companies such as, but not limited to, FAANG.
I had plenty of trouble, and I mostly interviewed at exactly those kind of small companies. I landed at least the first interview for a third of what I sent out (better than most, from what I've seen here on HN), and after going through the entire process what I've heard back several times is that they think I'd be a great fit, but that they've got more good candidates than what they know what to do with and someone else was just a slightly better fit.
Not all of these sorts of companies are small. A lot of them are very large.
The BLS publishes the most current data industry-by-industry. Transportation Equipment Manufacturing, which Motor Vehicle parts companies like a Bosch are a sub-sector of, is here: https://www.bls.gov/iag/tgs/iag336.htm
It would be appear the unemployment rate of last month in that industry is 1.2%.
The data series app is a bit confusing, but if you enter the ID CEU3133600003 into https://data.bls.gov/pdq/SurveyOutputServlet, you can get wage growth. The last four years seems to have gone from $33.40 per hour in January of 2020 to $39.56 in December 2023. That is up 18.4%. CPI is up 18.9% in that same period, so I guess that is basically a wash.
As for tech layoffs, it has to be said the 2022 hiring spree was not sustainable and some trimming was going to happen.
Also the recent layoffs have been very targeted, which probably would not have gotten the same attention if it wasn’t preceded by mass layoffs in 2023.
If the Fed Cuts arrive by May, it would end the doom cycle I hope.
https://www.bls.gov/ooh/computer-and-information-technology/...
"Bosch Nutrunner Vulnerabilities Could Aid Hacker Attacks Automotive Production"
“The main reason given for the move, which sees 950 cuts in Germany alone, is the significantly slower-than-expected development of fully automated driving”
They no longer outsource this functionality to likes of Bosch or Delphi.