Mass layoffs and the future of tech | About That

Globe and Mail tech reporter Josh O'Kane breaks down why industry giants like Microsoft and Meta are seeing mass layoffs and what this means for the economy. Plus, tips on how to pivot when you've been laid off from career transition coach Kadine Cooper.
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[@akira9900]

As much as you love a company, It will never love you back. Take what you can, while you can.

[@mel816]

Indeed, employees are really nothing more than another expense for a company to reduce or eliminate.

[@tomato8ish]

I want more of this content!!!! Thank you CBC! This feels like a response to my current needs for financial and career guidance. Also I love Kadine's energy!

[@calvint3419]

From the Great Resignation to the Great Termination

[@MrSupernova111]

The great resignation was a lie created by corporate America as an excuse to overhire and fire them as soon as those employees were no longer needed. The finance industry is next.

[@JohnPMiller]

7:59 "The entire sector is now trying to do less with more." I think you got that backwards.🤔

[@canadiengoose]

Always have 6 months of reserve. Curb spending and don't buy things you can't afford.

[@MrSupernova111]

Good advice. Harder for some people to do so.

[@drewsykes8231]

the road to prosperity is always under construction

[@KK-yl9tv]

How do you step back and re-assess your career aspirations when you have a mortgage and kids to feed? You can't miss a week off work, let alone take a month to find new one

[@MrSupernova111]

Those tech workers make a lot of money. If they're flat broke and living paycheck to paycheck they have no one to blame but themselves.

[@zochbuppet448]

They have had it really good. and they hake a lot of money and the jobs have been solid and stable for the last 10 years. Layoffs is a regular occurrence in other industries

[@divertiti]

What happened to your savings

[@Handlebrake2]

How many of these are new tech ppl or non tech ppl, like re recruiters?

[@littlebrit]

They are not tech people. I worked in tech company. We had more lawyers and marketing people than programmers. We needed more coders but it was impossible to find.

[@thepearlswirl]

5:15 yep this was the prime time to job hop salary increases everywhere I started seeing the problems about 4/6 months in.. but man was I glad I got to experience the job market at that time. It was beautiful😂

[@mohamedabdi8022]

Kadine is godsend. She's spot on.

[@benjaminbutton1645]

This is good programming. Keep it up🎉

[@pavamchathunni]

Almost all new positions in tech are now remote and therefore end up in low cost locations. Big cities in developed countries will see very low recruitments, if any at all.

[@ashl905]

18,000 Amazon layoffs does not mean 18,000 tech layoffs.

[@toantruong2581]

My alexa triggered when you guys say its name out loud!

[@Todd.T]

Now Alexa is easily triggered? Is it the new ultra woke model??

[@olgarodrigues1417]

👍🤣🤣

[@zochbuppet448]

@@Todd.T Everyone everywhere is now constantly triggered. They cant take a few steps without being triggered. I even heard a 48 year relative use the word.

[@firstnamelastname564]

Idk if it's in Canada, try applying for work at Field Nation. They're always recruiting field techs.

[@sanujitroy6830]

We need to understand why Russia never focus on IT although having capability and resources and same for other European countries

[@olisaezekiel9646]

But will some recruiters actually read your summary??? They sometimes glance through your resume technically within 10 -30 secs and that's not enough to read a summary. Maybe I'm wrong I don't know but it is what it is.

[@careercoachk7217]

True some recruiters may not take the time to read your executive summary until you have been identified as a candidate of interest. I still recommend adding one the same way I still suggest that my client create a cover letter. Any opportunity that you have to showcase your value to a potential employer should be leveraged.

[@laurenashmore4026]

Actually, I've talked to a lot of people who review resumes professionally and they say that they always look at the summary for a quick fit check.

[@ronniesharpe8977]

Keep working from home

[@604h22a]

time to get regular jobs such as warehouses

[@drewsykes8231]

drive a cement mixer

[@MrJabez89]

Are there 30,000 cement mixers that need drivers right now?

[@lucasmontec]

Career coaching is really the end of the line.

[@supermash1]

Not convinced by this report. Just saw somewhere else that most people who are laid off from "tech" find a job within 3 months. Any how are these people more skilled than doctors, nurses, architects, accountants, engineers, geologists, etc., etc? I don't think they are, I just think the "tech" companies were very profitable for a time and could pay them more. We'll see how long it lasts. When the tech bubble burst in 2000, the stock market didn't return to 2000 levels for a decade. This could happen again, not saying it will, just that it could. No one knows what will happen.

[@robertcox14]

What an insult!!!!!

[@chiragvatnani3028]

I don’t understand. What’s funny about people losing their jobs?

[@Dblup]

Learn to code 🤷‍♂️

[@last_samurai6690]

@John learn to weld. Lols. Well not funny. I am in tech but small tech. Hope I won't be laid off. I have got big plans lols.

[@Dblup]

@@last_samurai6690 you won’t be laid off. And your career will only get better 🙏🏾

[@MrAshraf1949]

I have been never laid off in my 40 years career in hospitality industry in different management positions. My daughter is in finance and see was laid off and hired by so many different companies. She doesn't mind as she always climb higher positions. Younger generations don't mind.

[@MoeMoeStudio]

I'm tech worker myself and I find this cringe

[@MrSupernova111]

Your mother said the same thing the first time she saw you.

[@lutaayahuzaifahidris3679]

A mentor is going to just burn my money, come on

[@barrybrand2970]

We need to change from teck shipping items from China with disastrous environmental concerns to manufacturing in North America again, products that the manufacturer is accountable for quality, can be repaired not thrown out, returned and not thrown in landfill. We need value added local manufacturing of everything, local sourced supply chains and real customer service and accountable companies.

[@brandinginpajamas]

Up to $59,448 right now according to layouts fyi

[@airhogglider]

There is no confidence in the person that is being interviewed and what he's proposing is absurd. They don't flush out top talent during these layoffs so they are getting rid of their bottom 5-20%. He just said that VCs and others are cautious in investing in new ventures due to expensive capital and existing startup runways are shortening or disappearing but then proposes some unicorn village coming from the tech unemployed to create new startup's during hyper inflation, expensive capital, and continuing mass lay offs in Tech... Yeah, doubt it. Those folks who are laid off are looking to jobs to pay their rent or mortgage not talking and thinking about making the next Oracle or Blackberry.

[@neverhomepnw]

Stop supporting Amazon.

[@robertcox14]

Go AWAY with fing Alexa!!!!

[@zacharygreen2895]

why is andrew chang so awkward

[@Todd.T]

I want to watch the content, but I just can't quite make it through. You are correct. I can't figure out what he does that causes disinterest.

[@snosilmoht]

I don't find him awkward, personally. What I find awkward is commenting about a guy as if he's in this video, which he isn't.

[@zacharygreen2895]

@@snosilmoht yes he is

[@snosilmoht]

@@zacharygreen2895 Timestamp needed.

[@kerri648]

@@snosilmoht lol the first second ...so. clearly they did not watch the video

[@Todd.T]

Ask ChatGPT. It's going to begin taking your coding jobs. so it might have a better idea...

[@esparda07]

Layoffs + even more interest rate hikes. Overleveraged tech workers are on for a rough ride. Also, tech workers have been too expensive. Lay them all off and rehire them when they're desperate for peanuts.

[@deskdesk4949]

stay away from my dinner party

[@snosilmoht]

@@deskdesk4949 Hey man, tech workers are expensive, and Esparda's massive $200 investment in ABC might be worth $202.15 after these layoffs!

[@nagitoyup6929]

You need to know there are new tech jobs getting created. Even with lay offs, unemployment rate never went up.

[@MrSupernova111]

Unemployment hasn't gone up yet. Keep watching.

[@olgarodrigues1417]

You are reporters and you don't know what's happening with layoffs and economy..... WOW! Yah! Keep asking Alexa... 🤣🤣🤣

[@JohnDoeJL]

Speculation with cherry-picked data, clickbait for the most part

[@JohnDoeJL]

At least reminded me to unsubscribe from cbc

[@MrJabez89]

@@JohnDoeJL Did you really just reply to yourself?

[@kerri648]

@@MrJabez89 lol

[@anonymousan5063]

Nothing will happen to Indian technocrats .As indian technocrats brains, talents and STEM skills are the backbone of America .so Americans have no way but to depend on Indians for high tech speciality jobs .

[@MrSupernova111]

lol

[@simianwarthog]

Modern slavery.