Silicon Valley: waves of layoffs and salary cuts invade the tech industry

voz.us

22 points·WWWMMMWWW··8 comments

As a relatively new developer of ~4 years considering transitioning from freelance to the work-force, this is disconcerting and demotivating.

Makes me wonder whether I should try to pivot, or just weather the storm.

I don't know how people live in the bay area on that salary. I'm making way more than the median in a normal col city.

I wouldn't be demotivated. I have a feeling layoffs are more common in that area since it's all startups.

Yeah, dissolved a startup I was working on as a co-founders since we ran out of capital a few months ago.

The industry is NOT looking good - not feeling good about the next six months and getting back into product / SWE.

Depends on how much you like tech? Like most industries, it has ups and downs (dot com bust, 2008 recession, etc). Its just that 2012+ has been a really successful time for tech, and younger devs have never seen a 'down' cycle before.

On the other hand, I don't really know a recession/depression proof career?

> I don't really know a recession/depression proof career?

Government. Military. Academia. Crime.

Also look for things that people need no matter what: food, housing, health care, fuel, household products, etc.

Entertainment/candy/snacks/alcohol/etc., and luxury goods also tend to be less effected by economic downturns (the former because they make people feel better in spite of being poorer, the latter because the rich still have tons of money.)

1. Lay off staff. 2. Hire back as needed at lower salary. 3. Profit.

It seems to be an interesting example of tacit collusion, fueled by dreams of an AI productivity/labor cost-cutting revolution.

Oof!

“Between 2022 and 2023”

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