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Nearly 25,000 tech workers were laid off in the first weeks of 2024. Why is that? (www.npr.org)

submitted 9 months ago by [email protected] to c/[email protected]

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Nearly 25,000 tech workers were laid off in the first weeks of 2024. Why is that?::undefined

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[–] [email protected] 13 points 9 months ago (1 children)

The "rewarding" theory is probably true. That's why so many people were hired to begin with. Boards were like "if we don't hire, we'll fall behind!" So they over-hired. Now they're like "we can easily hire more later. Fire these losers."

So you basically trained a ton of people on your internal systems and let them go? And you think randos will be able to pick up the slack when you need them in 12 months?

These companies are so dumb. Aren't they growth companies? Don't they have moonshots to work on or any good ideas for the future these people can contribute to? It's like they became big and lost the ability to innovate.

[–] [email protected] 5 points 9 months ago

It's because when they become big the people on the board become less tech oriented and more business oriented, that means no vision other than next quarter numbers...