Tech layoffs balloon in Jan. as rally lifts Alphabet, Meta, Microsoft to records

cnbc.com

11 points·rntn··4 comments

Fluffy and weak article that attempts to shame leadership.

* Implies continuous employment is guaranteed without making that point.

* Misleads the reader to think inaccurately cynically, and actually dumbs-down the reader.

Unanswered questions:

- How many Tech layoffs are from Public (stock market) companies vs Private? The article waffles, talks about small and large companies, while not providing profitability measurements for small companies, only the gross word, "RALLY".

- Which sectors are impacted?

- Are Tech layoffs due to a particular set of causes?

The article's title correlates RALLY with LAYOFF ("Don’t tell that to the bosses that they're financially successful.]" -from the article).

Yes, this article is lacking, but leadership deserves to be shammed in this industry! Most firms are managed with fluffy nonsense about OKRs and story point velocities that have nothing to do with the cost of the daily activities of the labor force.

Most champion EBITDA as an internal metric!

That the cost of over-hiring, layers of middle management, and weeks packed with borderline pointless meetings were not factored in to the financial projections that led investors astray is painfully obvious when looking out the rearview mirror. Financial accounting is about where you have been. Managerial accounting is about where you are headed.

We must work for the same company because my leadership also loves to shift the blame.

for example goog, +50% yoy, -12k layoffs in 2023, more in jan 2024. btw, this is expected impact of recent ai breakthroughs. no wonder the press picks up the vibe, there is a real fire beneath all that smoke.

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