IT industry going through a rough time, 2 buddies lost their jobs, one at google smashed performance targets, still got canned.
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That’s really tough. I’m sorry for your buddies man. I hope they move onto something better.
I know many people who lost their jobs after mass layoffs in IT in Fintech. It’s really sad to witness after the rapid growth in the last couple of years. I was part of the industry for almost 4 years. They ended with me going on a leave of absence for about 8 weeks. I never made my return as I was able to find a job in my actual field. I had to take a considerable pay cut but I couldn’t be happier now that I’m doing something I’m passionate about.
I know many people who lost their jobs after mass layoffs in IT in Fintech. It’s really sad to witness after the rapid growth in the last couple of years. I was part of the industry for almost 4 years. They ended with me going on a leave of absence for about 8 weeks. I never made my return as I was able to find a job in my actual field. I had to take a considerable pay cut but I couldn’t be happier now that I’m doing something I’m passionate about.
Most firms over hired over the last 2-3 years. This is a modest correction especially for the Patagonia vest crowd (big tech unicorn firms). If someone got let go from Google, meta , amz ,msft then they are clearly talented enough to get a new role anywhere. I do feel bad but they are going to be fine. Also, this barely affects macro labor and employment metrics btw. The idea is to bring down costs to show better profits. Then re-hire. Just see what MSFT has done. The media said they let go of a massive part of their workforce. When in fact they are actually still net positive in hires.
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