Mass Layoff Wave: Why are Tech Companies Still Cutting Jobs? | Vantage with Palki Sharma

Mass Layoff Wave: Why are Tech Companies Still Cutting Jobs? | Vantage with Palki Sharma
America's leading newspaper Los Angeles Times laid off 115 people on a zoom call. The employees were reportedly informed about the decision on a call where they were muted, and their chats disabled. Despite declining recession fears, major companies are still cutting their workforce. What's driving the mass layoff wave in 2024? Palki Sharma tells you.
Also Read: www.firstpost.com/opinion/van...
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Mass Layoff Wave | Los Angeles Times | Zoom | layoffs | Firstpost | World News | Vantage | Palki Sharma
#masslayoffwave #losangelestimes #zoom #layoffs #firstpost #vantageonfirstpost #palkisharma #worldnews
Vantage is a ground-breaking news, opinions, and current affairs show from Firstpost. Catering to a global audience, Vantage covers the biggest news stories from a 360-degree perspective, giving viewers a chance to assess the impact of world events through a uniquely Indian lens.
The show is anchored by Palki Sharma, Managing Editor, Firstpost.
By breaking stereotypes, Vantage aims to challenge conventional wisdom and present an alternative view on global affairs, defying the norm and opening the door to new perspectives. The show goes beyond the headlines to uncover the hidden stories - making Vantage a destination for thought-provoking ideas.
Vantage airs Monday to Friday at 9 PM IST on Firstpost across all leading platforms.
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[@Firstpost]

Will mass layoffs end in 2024? Leave a comment and let us know your thoughts.

[@finwwwfinwww4669]

stop spreading fear and agitation, the sooner they are laid 95% are sooner able to find next job quickly and even with better hike... you are just using fear to gain likes and personal gain... #shame

[@kimjw001]

will you layoff staff in mass?

[@rashid4490]

Ai taking jobes All tech companies throwing people So no one says no to ai

[@naveenbadrinarayan]

What is the real statistics? Your numbers are only of the large companies..what about the majority of small enterprises, which are the ones that offer max employment for the majority? I think you are painting a dark picture with half baked information. Also, most large companies prefer to get work done through contracts, so the mode of employment is also shifting from full time employees to contract gigs..this could be a sign of that paradigm shift in employment strategies..??

[@rashid4490]

@naveenbadrinarayan main reason is ai Even in usa n europe it's happening End of this year tesla launching its robot too Many companies who were researching in ai doing so

[@toprandomvi8966]

This layoffs is the reminder that companies don't care about you and you shouldn't kill yourself for this companies

[@unknown.m.e]

The main reason why they are fired is because the leaders didn't do good job

[@NClottery]

Very good answer !just like the whole AI thing IT is cool!! until they come for your Job!

[@simaosimoes]

​@@unknown.m.eno it's because of capitalism, the only function of it is the accumulation of capital. More profits, less expenditures, simple as that

[@arrshath]

​@@simaosimoes Well said !! Capitalism slowly shrinking and it doesn't solve any problem.

[@RavarsenBlogspot]

If you’re not loyal to company, don’t expect anything in return. You’d switch at the slightest of raise, they will fire at the slightest of saving

[@roddywoods8130]

I was part of the recent layoffs at twitter and this bites hard. I am grateful that I kept some savings about; $600k and I am looking for ways to invest this into the stock market to generate good dividends to supplement for my monthly expenses.

[@kaylawood9053]

Thats when you hire someone to manage your money. You need a financial-advis0r straight up! Even while $600k might seem like much, one bad decision might seriously deplete it.

[@hushbash2989]

A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.

[@bsetdays6784]

Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.

[@hushbash2989]

Marisol Cordova’ is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@selenajack2036]

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

[@SaiRulez1]

Hey, that’s my story….after 16 years of being an asset for my company …adding to the top line and then as a revenue generating resource, with great feedback from all stakeholders, I was laid off over a Zoom call last month. Meeting was set up on a Friday for a Monday morning meeting and I was told “today is your last day. It is not a reflection on your performance. Thank you for 16 years of service”. Lol

[@FactsCountdown]

This soulless companies only care about profit and employees are just a tool to generate profit and after using employees they throw them like a expired product.

[@user-nq8vm2iv9v]

you should have brown-nosed. I've witnessed incompetents retained. These corporations with huge profits are buying up their competition; monopoly and/or oligopoly is their goal. There are no more governments of the world, only corporation-states.

[@chaya973]

Same except 7 years last November

[@adrianlatham7462]

That’s tough. Keep strong. Perhaps work for yourself for the next few years? The way AI keeps advancing, I suspect we’ll all be unemployed in 5 years time.

[@SaiRulez1]

@@adrianlatham7462 : Thanks. I am looking but don’t currently have great ideas to be self-employed and the market is tough. As for the future, we will just need to stay ahead of AI or work in areas that cannot be replaced by AI. Good luck!

[@krishkrish42]

But CEOs salaries are in millions.

[@DonTrumpF2024ever]

❌❌ FP didn't cover the MASS PROTEST IN BANGEL! OVER 1,000,000 plus YOUNG INDIANS protesting corruption, poor education, and lack of jobs!

[@arrshath]

That's how modern capitalism works 🤡😆

[@tejuss954]

Yes . Layoffs is how get keep bal sheets neat

[@Novastar.SaberCombat]

Precisely. It's pretty simple: if you ain't rich, you ain't SHEET. Masters and slaves, baby. ;) Get used to it, because the system is thousands of years old, and it's never been toppled by the 99%.

[@jurassicthunder]

​@@arrshaththat's how corruption works. stop blaming capitalism for everything. socialism and communism never worked.

[@Seevawonderloaf]

This isn’t about company policy but nation governance policies. My company has offices in the US and Sweden. They fired 1000 people in one day in the US. In Sweden it took them 4 months to fire 15 people bc of the laws, the discussions with the unions (everyone is unionised), they had to give them compensation packages and an option to move positions.

[@set3777]

But Sweden's VOLVO cars manufacturing was sold to China.

[@MAHAraaj1]

This explains why there are no major startups coming from Europe

[@michaelcolors]

Thank you for sharing this. yes, it took many yrs and many sessions of the congress/parliament, but the companies won out.

[@sholmes_ttyy]

Its not YOUR company, it is "the company you work for"

[@GenericUserName443]

@@sholmes_ttyy And the moment they think they can let go of OP and net an increased profit, he/she is gone the same day.

[@edthelazyboy]

All I'm hearing is that companies are trying to get more for less even though some are doing well. The reporter's advice is that everyone needs to adapt and be better than their peers to be able to continue to keep our roofs and keep food on the table. Employers love people willing to give more for less. My advices: - Keep your spending in check even if you are still doing well today. You might get laid off or get a huge medical bill suddenly. Always be prepared financially for extended unemployment or forced early retirement. Don't fall into conspicuous consumption by buying things that you don't really want to impress people you don't like. - Don't bring another child into this world. They won't have a good future and you will have more financial, time, and energy burdens. They will need a PhD and master AI to secure good employment in the future. They will also face a world with even more serious issues.

[@dhyanapadi15]

The last part of advice .. totally second that .. life is not getting better with AI automation it’s only getting worse

[@ladybookworms]

I agree. The future, as they say, belongs to AI so why bring children into this good for nothing society? Let it belong to the rich and the AI, the rest of us will sign/log off this increasingly silly game.

[@ladybookworms]

Not to mention what living in a society fully controlled will do to our species' mental and physical health? This modern lifestyle has already created as many if not more disease than it claims to have cured and wants to focus on woe feminism and transwomen's rights instead of actually finding cures for diseases that il women like fibroids, pcos, pcod, post partum depression etc. On ALL levels this world/society is NOT WORTH bringing a new life into.

[@user-nq8vm2iv9v]

The more educated people are, the fewer people it takes to make the world operate.

[@ladybookworms]

@@user-nq8vm2iv9v Ummm in case you missed the point… Humans don’t exist to “make the world operate”, humans, life irrespective of it being “of use” to human society or not have existed and will continue to exist in whatever shape or form irrespective of whether the human world “operates” or not. So to correct you “human society needs less people to operate it”. Means more humans can choose to live independently of the system, but the system won’t allow it… and why will it? Human economy depends on spending and rotation of money and more population isn’t it? But now everyone wants to be a millionaire and a few people hoard money as well, so now what? Change or collapse? Time for a new world order?

[@udaykiranreddyb1450]

As far as Tech companies are concerned, during the peak of Covid, the job hoppers pressed for over a 100% hike and some even managed to get 3X of their salaries when they switched companies. They should've seen this coming. Those gains were momentary. The companies can't afford to cut their profits for long. This is the market correction.

[@srutisukumar8609]

Why inc prices then? Greed of some at the cost of others

[@shaun3008]

Correct ...

[@mishuccet1]

this is how it is in IT.....when the market in your favor and you have the advantage, take it......there will be a time shortly when the market will be hostile

[@tejuss954]

​@@srutisukumar8609 when onion prices shot up, did restaurants stop buying? During covid ,talent was scarce due to startups, gaya hiring etc.

[@alphaomega1351]

Never seems to be a problem when they constantly increase the CEO bonus, salary and perks. Interesting 🤔 how that works out... 😳

[@RossiPopa]

Knowing the erratic state of the economy and the escalating tensions across the globe is crucial because I'm thinking of investing over $680K in stocks. I'm not sure how to lower possible risks, though.

[@FusunTumsavas-cq7tp]

Think about working with tax professionals, estate planners, or financial advisors. They can offer specific expertise and guide you through difficult financial choices.

[@RichardMoore-jg5tl]

Currently, the best strategy for dealing with the stock market is to have an investment advisor. It was ineffective for me to go alone. I've been investing with an advisor for a while, and last year I was able to achieve capital growth of over 85% after deducting dividends.

[@RusuSilva]

I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

[@RichardMoore-jg5tl]

'CHRISTINE ANN PODGORNY' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@RusuSilva]

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

[@dy6682]

Great time to be retired here in beautiful Jamaica. No rent no mortgage . Life is easy . Challenges here for sure but better here than many other economies.

[@martingrey2231]

The crime 🫠

[@specialiseesi6746]

I´ve reached my 50´s and want to do just that ASAP. I consider southeast Asia.

[@Mikinaak2023]

Economic migrant. Bye.

[@rahkeembattiste5854]

Living in a shack in jammica that’s crazy I moved back the Virgin Islands 🇻🇮 s

[@RS-uz3ud]

One of the best ways to protect yourself is to live a frugal life and start saving for early retirement from day one. Companies discriminate against older employees in every industry. When you get laid off in your forties or fifties, you will have something to fall back on!

[@denethorpalantir2815]

This is the way.

[@RickBlaine]

DO NOT SAVE!!!!! Buy gold and silver TODAY! I have made 9.9% a year over the past 10 years. This is advice. Take it or leave it. But at least do some homework before you decide. Edit: Get out of debt NOW!

[@cherryblossoms942]

Corporate greed. Middle aged and older people get hired all the time. Younger people get laid off too and it’s a stain on their resume just like for older people. CEOs get paid 1000 times everyone else to not perform and then screw employees by laying them off. Why people put up with this crap is beyond me.

[@faraboverubieskerry]

You must own your own home some people were raised in big cities like Los Angeles where buying a home wasn't an option. We moved to Texas then he rent prices became outrageous there..then I moved to another country but being a renter nowadays is precarious everywhere. Living frugally is just not possible when rents have gone up so much.

[@hinkhall5291]

Yep. That and don’t be so eager to say you only wanna WFH. These are the first people on the chopping block. Companies don’t want to keep most people who are adamant about working from home. Be willing to commute.

[@specialiseesi6746]

Imagine an industry screaming for people to operate, being forced to pay 6 figures for entry level positions, then all of a sudden a new technology emerges that can do their jobs. The massacre has just begun.

[@edmhie1]

I was lucky......I was able to ride the financial crisis of 2008 and now I'm retired and collecting social security. I took my early retirement a year ago. I can sympathized with this generation. I hope everybody can find another job or career. It's a very tough world we live in, that's why it is very important to save and invest portion of your hard earned money while you're working early in your career.

[@michaelcolors]

except that the currencies after the thrid ww, mind you, will no longer have any value.

[@bernaclischurchill4463]

This is the reason why the TV writers were so against AI. They knew this was going to happen. Many of the tech companies are going to focus their efforts on AI, they will not have to deal with employees, which is bad for anyone needing 'true' customer service. You can't talk to a computer. All the while the boss is making more money.

[@RickBlaine]

Customer service???? I read about that in a history book..

[@user-nq8vm2iv9v]

And the Boss is a suck-up and the reason he/she got the job. In my town, a lot are family, (hiring only their relatives).

[@8000RPM.]

This can make you feel like playing Russian Roulette? I was always being trained on something "new and more challenging". Then my job had me working on tasks that were two grades above mine: The explanation (rationalization), "If the Administrator is out, you need to know what to do",...So why didn't they pay me like the Administrator?

[@dadi2rama]

This financial year 2024 is major troubles in worldwide red sea issues, mini wars ...inflation and unemployment..

[@arrshath]

Post 2020 every year there was a geo political issues !!

[@ragus1416]

I will attribute this to the WFH (Work From Home) culture. Nowadays, companies can hire people from anywhere in the world, making it much easier for them to find new talent. If they come across an outstanding candidate from any location, they can hire them without any issues. However, this was not the case before the WFH culture emerged. Previously, companies had to find resources willing to work exclusively on the office premises. The only solution is to continually upgrade our knowledge. If we are not competent enough to handle our job, we risk being replaced without notice. When you opt for Work From Home, please don't assume that just having a job and salary means you can work leisurely. This mindset no longer applies. It's crucial to be diligent and work hard, continuously learning new technologies and methods.

[@ladybookworms]

Or alternatively building your portfolio elsewhere and moving away from this madness entirely.

[@smpiano6605]

Stop the excuses. Companies were using H1B visas before COVID. Let's stop acting like outsourcing jobs is a new thing.

[@amitdhanani2640]

100 💯 knowledge/skills are only power

[@Revati5070]

To reduce expenses, CEO and other executives should reduce their salaries and take lesser bonuses

[@ambivertical]

Lol duh but you cant tell the BOSS what to do. Lol

[@alphaomega1351]

Never going to happen. Capitalism is a top down hierarchy. The top few at the top never have bad days by design. 😶

[@sblijheid]

Don't worry, when the company goes belly up, they give up their fat checks too.

[@smpiano6605]

​@@ambiverticalIf the idea is to cut down costs, it makes sense to start at the top. But sure let's keep simping for CEOs...

[@abhishek_raj]

As AI takes over, it will be a brutal bloodbath. The harsh truth is to keep upgrading your skills, create passive income sources, optimize expenses. You don't know what the next year may bring

[@z3nkin]

Thanks the tech bros for improving AI.

[@abczwq8364]

what skills you consider will be good to have that is AI-proof ?

[@rohanshende4338]

@@abczwq8364 building AI

[@D.2601]

@@abczwq8364nothing it’s just to give u false hope. ai is even doing great in the field of creative art work & therapy, recently a post of SCMP showed the Chinese have even built ai bots that could replace massage therapists..all the above examples r of professions that were “least likely/hard to replace” according to AI chatbots

[@sajibsaha6602]

@@abczwq8364 farming,agriculture

[@fredrikbergquist5734]

When it comes to newspapers the cuts are not new, it is hard to get a profit with all news on the internet. Most of us use sources all over the world to get true unbiased information. This channel is one of them! The most objective when it comes to Russia.

[@fredrikbergquist5734]

@siddharthsriram2685 The world is getting multipolar with BRICS+ so it is the right way.

[@sblijheid]

@siddharthsriram2685 If you live in the USA, he is right. The media is selective and manipulated. You never hear what's really happening.

[@Karthickmasanmasan]

The concluding words was Awesome, you get into reality and had the say. Thank you for the Encouragement.

[@yaskh786]

Not worth to work for others. Work for yourself. Be your own boss.

[@HughJass-jv2lt]

I was hired over *ZOOM..* I'm okay with being *FIRED* the same way 🔥🔥🔥

[@NClottery]

lol hahahhhahha

[@HughJass-jv2lt]

@@NClottery ❤❤

[@dukhi_aatma372]

🗿

[@Saurabh_Good]

Palki is the best journalist and news presenter today. All other journalists try to instill fear and uncertainty to get more views. palki is the only journalist who ends a segment with positive and hopeful words. All other starts and end news like its a dooms day 😂

[@ROSUJACOB]

Yes she is super hot on ai p_orno❤

[@mandarp9472]

Live below your means. Do not spend tomorrow's income on today's expenses.

[@kasunkarunarathnaict55]

There were nothing positive in her words

[@sblijheid]

@kasunkarunarathnaict55 Why would there be? She was bringing bad news, but reality.

[@micrasystems]

My nephew asked about going into high tech. I told him honestly you should consider Trades or Healthcare. Become a Plumber, Carpenter, or Electrician,or in healthcare a Radiologist, Nurse, Physician Assistant, etc. Want to spend more time in meetings and in front of a computer well how about a Project Manager in construction.

[@momohcalvin988]

You gave him good advice

[@srinivasa4606]

Radiologist will be replaced by AI...please read online...

[@micrasystems]

@@srinivasa4606 While there are some compelling cases for AI implementations to replace radiologists, it is more likely that they will supplement the role of radiologists rather than replace them completely. I also mentioned Nurses, Physician Assistants, Trades, etc.

[@srinivasa4606]

@@micrasystems that's how everyone is getting fooled...AI cannot replace human I agree but instead of 10 , 2 radiologist are enough to work with the help of AI so indirectly 8 humans are replaced by AI.....yes trades is good but it's quite risky....not much in our hands ...lot of scams in trades happen...sports or entertainment like comedy, dance, technology lawyers basically cyber law etc where AI cannot do much will grow in future

[@weirdboy2214]

Cybersecurity is better

[@johndear1592]

"Something better is awaiting you," indeed. Black USA women in tech experienced this phenomena first, started their online businesses, saved the economy from the last big recession, now most are expats watching this happen to people that felt more entitled. The workforce needs to stick together and it stops.

[@anurag01a]

Thank you Firstpost and Palki Ma'am, for constantly keeping us in touch with Tech trends, India vs Globally. ❤

[@ROSUJACOB]

Thanks anurag chaala chepandi magaychi😅

[@sagnikbhattacharya1062]

The insider information is that companies are focussing on AI tools.

[@themanwithnoname9578]

Depends on the company but that's the best thing ever. It's about time we started adopting the technologies faster

[@specialiseesi6746]

I´m 100% sure this is due to AI. Especially when they´ve been paying 6 figure salaries for entry level positions because there was no other option.

[@weirdboy2214]

Cybersecurity is needed by every tech company, it’s the better.

[@Truth-sv4lt]

Thanks for the positive perspective you gave at the end of the video

[@kkaabbccdd8080]

Today morning eBay announces layoff of 1000 employee's

[@Anonymous-ul4kk]

I like the way and your content of expressing your gratitude towards the audience. This is an excellent way of conveying a news and on top it, the news reader has dignity to show some positive cheering towards the audience whoever is impacted. "Its not the end of the world"

[@larskaminskidk]

Of course you get rid of employees you don't need and naturally companies think about increasing profits.

[@xy1xy]

One thing not common about common sense is that it is not common.

[@xy1xy]

@Nischal-vl5xg And what is wrong in that?

[@hubris04]

​@xy1xy people being unemployed, and can't provide basic living conditions. Not that hard to use you're Brain. I work in Motion Design and we already learn to implement AI in our day by day work

[@xy1xy]

@@hubris04 I thought evolve or perish was/is the name of the game.

[@Agenamigo]

Palki, layoffs mean less expenses, which, in turn, mean larger income or more money for these companies. Then, their stock values go up to please the investors (current and future). It’s part of their housekeeping.

[@craiglarge5925]

You know it !

[@jekboy2003]

shw did mentioned that st 3:33 apparently you didn’t pay attention to the entire video

[@DonTrumpF2024ever]

❌❌ FP didn't cover the MASS PROTEST IN BANGEL! OVER 1,000,000 plus YOUNG INDIANS protesting corruption, poor education, and lack of jobs!

[@arrshath]

And salary in millions and billions for CEO's 🤡🤑

[@mankisuno88]

Thank you Palki for the wonderful news and keeping us updated with the latest and knowledgeable news. ❤ and blessings.

[@alleneng3159]

That’s market driven. they were all overpaid before, and the stock performed badly recently. they have come to common sense; to cut cost!

[@prithanandy2589]

The last Message is superb.

[@merinoyrejith]

This is a result of high interest rates due to inflation. High interest rates will suck money out of the market and companies wont have cash. They will have to layoff staff. Layoffs will lead to reduced spending which will lead to reduced inflation. When inflation comes under control interest rates will go down and cash will increase. Companies will start hiring again. This cycle will repeat. It is very important to have savings to manage these cycles. Make hay while the sun shines.

[@yashmetha1232]

Will it get normal by 2026. All major company stocks went down significantly in 2022 and are recovering slowly.

[@FatherGapon-gw6yo]

I think you are forgetting a little something called demand. The companies aren’t coming back.

[@anilgawande4954]

Well Said ❤

[@abhinav.amarapuram1013]

00:10 Tech companies are laying off employees despite the rise of remote work. 00:43 115 employees of the Los Angeles Times sacked over a zoom call 01:18 Tech companies are still cutting jobs due to rising expenses. 01:51 Tech companies are still cutting jobs despite previous layoffs. 02:32 Tech companies are still cutting jobs, focusing on downsizing and optimizing costs. 03:05 Tech companies are still cutting jobs despite making profits. 03:35 Tech companies are cutting jobs to meet investor expectations for better profitability. 04:08 Adapt and acquire new skills to succeed in the tough job market.

[@bharath2508]

Layoff the ceo because this saves a lot of cost.

[@smpiano6605]

​@@bharath2508Thank you! Let's automate their jobs instead. Let them "adapt" and give no golden parachute. After all, "nobody is entitled to a job".

[@user-nq8vm2iv9v]

I knew a divorce woman yrs ago who was in sales for 8yrs from the beginning for a small accounting firm. The boss and a few employees, basically everyone knew each other and the team hustling their rear ends off; working extra hrs for free, on call for clients after hrs, etc. After the accounting firm became successful, the boss/owner sold the company for big money and everyone was out of a job because the larger accounting firm which bought this one had its own employees to absorb the work. She was sadden, was in her late thirties, scared, but did retrain as a R.N. This was back in 1990. I now look at corporations as parasites/exploiters and contribute nothing to the well being of society.

[@rajkschwartz]

Reminds only thing - be careful in your spending - save as much for your rainy days

[@shyama5612]

Also include how many were hired in 2021 and after. That will give a balanced perspective - its not as bad as you make it out to be - if you see percentages, its still less than 5-10% in most big companies when they hired more than 10% in each of the last 2 years.

[@venkatas4362]

Then no one will watch this news.. 😂 the whole point is to manipulate and create panic for more tpr and views.. 😂

[@milindbhai1]

Palki, investing in ourselves is an absolute must !! It is vital for survival !!

[@michaelcolors]

over and over again, as history repeats itself, we find that the accumulation of wealth and power is not the most important focus in life -- taking care of one another is a key.

[@jurassicthunder]

how tf are you going to do that without money Michael?

[@ROSUJACOB]

Exactly 💯

[@dimitriberozny3729]

And these companies will hire college graduates in July for a dollar a hour above minimum wage!! This GAME has been going on since the 1970’s.

[@MickyAvStickyHands]

No mention of interest rates. Huge companies operate off loans since having debt is cheaper than realizing profits and paying high taxes. Higher rates means higher interest payments. They are softening the inevitable blow.

[@nicelook2005]

Looking beautiful Palki ji as always nice shirt 👌

[@anandgangatkar]

Thanks for motivation

[@myaunyoe1533]

If there is no more lockdown, there will be less usage of zoom, netflix and online communication. Business make decision on supply and demand. During lockdown demands was high.

[@iamsurojit]

Any company fire in bulk only for one reason: to cut cost. (Or when it is winding up business, anyway). So, 'why' is not a question. When will it hire again or how many more will be fired is the right question.

[@elizabeth70001]

Hi Palki, Even if CEO’s, managers and investors want to see larger profits from these companies, they can’t layoff so many employees at one time, so the question is who is doing the jobs of these layoffs employees? You stated companies doing these layoffs are very profitable. So my thinking is AI. A company would not have to pay fo sick pay, vacation, maternity leaves, profit sharing, healthcare, etc. We all knew this would be coming, sooner or later. Now, the time is sooner. And of course, this trend will extend into more government spending for social programs, if unemployed workers cannot be hired in their prospective fields. For many years, employers focused on teams, team building, and less on individualism, and now AI’s can do the mundane jobs of teams better and faster. So, it seems the only jobs an AI can’t takeover is one that involves creativity, ingenuity, critical thinking, a higher level of thinking, designing, etc. So, I guess doctors, lawyers, accountants/CPA’s, engineers, designers, and anyone who can make or build stuff, and of course sports players are safer. Isn’t this the way we were meant to be careful n the first place? I saw a man wearing a tea shirt that stated: I can only help one person per day. Today is not your day. Tomorrow doesn’t like good either.😂😂😂😂 We should start thinking forward and out of the box, sometimes.

[@MrBlack31695]

They have the right to fire people or layoff. It's their company. Can't trust anyone! gotta build your own security!

[@issiewizzie]

The best report ... Palki Sharma

[@Mao-ze-dong]

Work on yourself, maybe something better is waiting for you in the future. The reason i watch Palki ji

[@mildntender]

There is not even a single lay off in Canada insurance companies here will never ever ever lay off their tech staff. So move to a country which is actually progressive and an organization where you know will not lay off.

[@Krishnaa553]

Most organizations do it on the teams, zoom or google meet. They just don’t care. There should some rules as about hiring and firing

[@sabarismanikandane-cz7mx]

Large recruitment by companies without having project in hand , later employees loose interest get will issue to work, when you get will issue companies don't like you😢, Companies cut cost by reducing employees and showing profit numbers in green to maintain stock and share value. Employees poor performance, bad attitude There could be lot many reasons as well... My opinion for ppl as you earn money start multi skilling yourself by learning certification, make sleep earning money like fixed deposit, government gold bond, solid gold coins,buying land to safeguard during job layoff because companies will get many new employees but for your family only you are there😢

[@4321rpraveen]

Just look at job walkin queue somewhere in Noida.. kilometers long.. end of day ppl must understand there is no room for millions of IT ppl passing out if collage.. this is not indian railways to hire mass.. this field is saturated... stop dreaming of carrier here.. ppl must understand population explosion is root of all problems..

[@campbellmorrison8540]

Well yes being layed off via zoom seems brutal but what is the difference too a letter, that is one way communication. Lets be honest here, if you work remotely then how else can an employer contact everybody at the same time? Nobody complains about being hired via a zoom call so why cant the reverse apply.

[@j.lietka9406]

With L. A. Times, like other newspaper companies, they rely on readers, people buying printed news. When those buyers shrink, the co has to somehow keep printing news, but it can't keep the number of employees.

[@SS-wj5zg]

Remote layoffs are the byproduct of a generation that has normalized remote breakups through text or even ghosting. So this generation should not complain about remote layoffs if it finds difficult to work in person in the designated office.

[@smpiano6605]

So you really want to act like H1B visas were invented after COVID?

[@dm95422]

does this mean that the newspaper company will stop printing papers & save some trees ?? Can't be a bad thing.

[@heribertoantonioramosreyes9695]

Having a job has always been a luxury but the cost of life has made it a neccesity, everybody invests money but expecting there will be huge profits every quarter is delusional, people in the lower pyramid should learn to live with less because we're the most vulnerable class and having biggest material expectations is the worst you can have right now!! Always live below your means!! There's never happy life for us, the slavery just evolved but never disappeared!!

[@gaselekrauss415]

If you go into work you can get fired but since you work remotely that how you get fired. It was roughing the 1970s. History always repeats itself.

[@dheerajbetha1876]

In my opinion AI is yet another fad. If they really had something concrete that can replace employees it's understandable. Saying they fired employees to focus on AI just comes across as an excuse.

[@anonymous_guy_]

"But bro security toh private sector Mein Bhi hai agar wahan kaam acche se karo toh" - A failed government job aspirant

[@testtest-co9hk]

Before making a sensational news like this can you give the stats of how many developer an non developer roles are sacked. I still see pretty high demand for devs.

[@BeigeBrownClip-jd2pv]

Good advice at the end.

[@attitude2012]

Layoffs will stop once we figure out AI to do C-suite jobs!!!!

[@FunNFury]

It's blood bath here in Germany, the job market is really bad, never happened before. Even if you land a job there is no guarantee you survive 6 months here.

[@vishatgm]

apart from layoffs salary drops, stagnations, reduced benefits....create a job based society first by forcing people to move away from traditional n family work

[@user-mv9tt4st9k]

Remote meeting/Zoom layoffs seem tacky. I am surprised the Los Angeles Times is still relevant. 🙄

[@NIKHILSINGHeem-jv2bv]

In Qualcomm it happened in November… More than 2000 were laid off… No news because they pay 8 months salary

[@MrRavipatole]

Cost cutting do happen to boost the bottom line and to boost the stakeholders centiments. Removing people actually does not help in cost saving

[@quartytypo]

Wasn't it just 5 years ago every parent paid big bucks to get their kid a tech college degree?

[@sxy2378t]

Quite simple. It is a supply and demand issue. In the past several years, many people got in just by remembering answers, e.g. Leetcode, and got pay package several times of other industries. It attracted many people, even those have no education or industrial experience in IT. Now the economy is down, these companies cannot afford these people any more. Especially after AI and Elon Musk reorganize Twitter. No more need for so many people 😊

[@AlmostGod007]

Palki has awesome dressing sense and good saree selection ❤

[@mager925]

IT sector and tech jobs were temporary from the start! Deal with it.

[@AkashKumar-ts4iu]

Please tell powell to cut ratea if there are so many layoffs

[@devmehi]

4:23 to 4:33 - Its very tough if age and liability being considered. Why top management thinks to reduce cost by cutting the size of HR. Why they don't think to cut other expenses and most important why they don't increase revenue. All management skills only ended by doing easy step like cut sizing employee. New era of management showing only how to sales any substandard product with unethical promise, how to cut size employee. how to lie using fancy tools. At last get project with your optimum capacity and not like if you earn more project hire and then fire. At this management Guru skills flopped.

[@user-hy5yt6jt6u]

Becaz the same things are being re introduced by the tech companies by doing minor changes here and there.......and there are no buyers....it has reached saturation ....

[@kanegrey7697]

tech is over in the USA. It’s so hard to get a job. Many jobs are being automated.

[@augustoliver2779]

Remote layoffs are fine because we are now working remotely. 🧑‍💻😉

[@roshiniravi3790]

Yeahh no courier the laptop no efforts 🥱

[@ramg658]

through companies out of country who lay offs

[@raminm.8785]

Companies are becoming less and less sensitive! Every employee should build personal independence and not rely on working for others.

[@basicprogrammer6147]

To be honest, what else is there for "technology" companies to invent? The only sector I see that has had ZERO layoffs is your local municipal government. However, what's weird is that AI and computer programgs could easily replace almost all local municipal workers. Heck, even public schools: At my local high school, children merely have to show up to school. Then, nearly half of them do not go to class. If public schools brought back remote learning, I would bet nearly 100% of students simply wouldn't go. Why would you? Just show up to take standardized tests, and then go back outside to play with your friends.

[@neinkalando2519]

I was born on June 11 1965 and I can't even fathom today's high tech blue chip jobs market

[@aduntoridasful]

Companies should lay off CEOs and see how they would fare in this job market

[@hannibal829]

Techies literally built there replacement (Ai)

[@D_6660]

COVID made them realised they don't need as much people anymore, why keep a person for 10 dollar when you can hire one for 5 when A person with 5 become the norm kick again to find 4

[@waldensmith4796]

I cannot fathom these layoffs in the tech industry laying off innocent workers. A lot of lay offs also in the business sectors which increses unemployment.

[@tomtom6319]

This is only the beginning of all this. Buckle up folks

[@nawilliams82]

Not sure how this is surprising to anybody. You’ve got thousands of people just banging away on computers all day and few if any of them creating anything of value. Eventually the fat gets trimmed.

[@specialiseesi6746]

And think that back in 2022 I got into a very expensive course in IT (computing), fully subsidized by the government - I got even my rent paid, so I only had to focus on my studies. Well I didn´t pass and programming is not for me. Now looking back... wow THANK GOD. Big lesson: you GOTTA HAVE YOUR BUSINESS, save and invest like HELL and retire ASAP.

[@backpropagation8365]

The laid off people need to get together and form new companies, new ways of doing business. The tech employment market will shrink further as CIOs cut back on tech investments or outsource jobs to lower cost destinations. You will also have to find new ways of living at much lower costs. This is not your regular bust cycle. It is a pivotal shift.

[@user-bk7jp1qb1b]

Not hired since 2019. No livable wages. $27/Hour is all I need and that is still living in a dumpy apartment .

[@user-re7bp6uj3s]

Layoff due to lack of knowledge Clients server destruction and loss of IT companies speak layoff Why surveys not taken

[@daniels.3062]

Companies don't fire employees that are producing, they fire the ones who aren't

[@ankurmalhotra9942]

Over staffing and absurd wage hikes led to this mess

[@dfpolitowski2]

Once software is created, refined, and debugged its permanent and needs little maintenance. Afterwards, you don't need a lot of employees. Hence its easy to lay off tec workers.