Tech Layoffs Are Getting Worse Part 2
I just got fired from my job 24,000 workers have been laid off just got laid off it wasn't anything personal they said with tech layoffs continuing to be relevant and showing no signs of slowing down that begs the question where are all of these laid-off Tech workers going to go what's up Financial ha so in today's video I wanted to go over some more cyber security or the tech in general layoffs I did a video talking about this maybe 3 four months ago how the market was crazy and I was hoping by this time by the end of the year we would be in a position where we would start seeing less you know Tech layoffs and we would see more people getting jobs and Tech and unfortunately that is not the case how I guess the economy and everything set up and how these companies are doing right now they're laying out even more people guys so I'm thinking in 2025 at least the early 2025 I'm not seeing everybody getting a job in Tech right now I'm really not seeing that let me go ahead and get ready to show you guys this first video I got I think what three four videos I want to show you guys I haven't seen these kind of just seen the views and I looked at some of the comments some of these it look pretty good but yeah I I'm just just just amazing me right now that after all this time from my first video we're still dealing with this and I try to pick videos too that are more recent like August September and uh yeah yeah yeah not looking the best right now so let's go ahead and start the first one and yeah let's see you're literally one email with HR cced on it away from losing your job the amount of layoffs that company's doing are not slowing down and particularly if you're working at a really large company a tech company you are susceptible to being laid off and I don't care if you've been at the company for 5 days or 25 years I'm running across people who have been really loyal to companies for decades and then suddenly they wake up they notice they have an email with that manager and hrcc done it and they just get like a sinking feeling right away and know what's going to happen this is not the same time period that your grandparents grew up in where you could work a job for 5 10 30 years and then retire nicely and it all kind of works out if the last few years has toor is anything it's corporate loyalty is dead both ways like we don't trust companies and they don't really value loyalty and if it makes sense for them profit wise they will cut hundreds maybe even thousands of people that's corporate life in 2024 yeah that's crazy let me stop it like right here in the midle know yeah yeah this is crazy and when he was talking about this too talking about like the last few years like last couple years how crazy it's been and how I guess you can work for a job for a decade plus still get laid off I would say it has became or has become more prominent but it's definitely not I don't want to say it just started like the last couple years I want to say really back when I was working at Towers Watson like so after I graduated from college one of the first jobs I had was at Towers Watson One exchange helping out people with like their medical insurance like retirees and whatnot however a lot of the people that we were working with were people who recently got laid off at least in the comp well actually let me go back a little bit so a lot of people who are working with me like in the company were people who recently got laid off I had several different people who were like 60 61 they thought they were going to get to 65 retire and they got laid out just like that and a lot of people in the company too were older people who again had a job they working for decades and they got laid off now they kind of had to start back from scratch but they can't really go back to scratch so they started working there you know so that they weren't making like the minimum wage so you know they were still making somewhat good money for sure but definitely probably probably Le for half of those people that probably weren't making as much as they were in their company that they were working 10 20 years and I had a friend who was kind of sad about it I remember her talking about it like she thought for sure she G to retire everything was looking good and she just got laid off and yeah when he talked about that like hey yeah you can work for a company for decades plus it still get you know laid off so yeah company loyalty is definitely something you know you should take with a grand OFA for a lot of these different companies I can't say for 100% of these places but for a lot of these places you do really got to watch out and if you have another drop offerer that's offering you a significantly more amount of money for example it probably is good to you know take that take that chance and monkey Branch to that next one but yeah watch out too for your emails from HRC seed I'm kind of nervous now to check my email but let's go ahead and play this next one again talking about more Tech layouts coming let's see what type of info she has hey who sing that song where it be like you ain't got to say too much from the look in your eyes I can tell want to pay my bills and you can pay my carel too it's all up to you what you really want to do who's saying that August 2024 and the world has seen at least 125,000 Tech layoffs since the beginning of the year most recently we've received news that Tech Giant Intel is set to lose 15,000 employees with other Tech giants like Dyson Microsoft and in it following suit multiple reasons are cited for these layoffs but one of is the inability to leverage technology particularly AI in streamlining operations as a result you can imagine that Tech professionals from all over the world are panicking right now with the threat of losing jobs ahead in the United States where so many of our Tech workers hold H1B status there is especially a reason to be concerned about another wave of layoffs coming forward if you're a tech worker in the United States on an H1B or another temporary work visa Don't Panic usually there's a way to mitigate these losses of a job or to temporarily find solutions to keep you safe one of the biggest options that we utilize is getting a B1 change of status B2 change of status meaning we are asking the government to temporarily okay let's fast forward this a little bit looks like they're talking mainly for people who are coming over on the VIS ability for you existing employees who have made those cuts behind and what I men on file with the government wherever there are layoff within a company it will impact your ability to successfully receive a labor certification from the US Department of Labor and could possibly torpedo somebody's case you are the Survivor of a layoff or the victim of one either way it's important for you to have a plan okay okay so yeah this one she was kind of I guess talking more along the lines of people who are over here with the visas you know for the tech jobs and whatnot and I guess that's something I didn't really think about on the tech job layouts I'm mainly thinking about you know people who are here who are already Americans but you know what that is a valid point for people who are again coming over here who aren't American you know taking these well or going to a lot of these different tech jobs and you know now they're also getting laid out so yeah if you are a person who isn't an American but you're coming over here for a tech job yeah I will definitely uh look at look at this video and let me go ahead and just show you guys the name of this here it goes right there so yeah it looks like he talks about this probably a lot you know immigrant life and whatnot so yeah this is something you should definitely check out and yeah you know that's something also too you know with this craziness because we have like I guess we do technically have a finite amount of tech jobs depending on the area you're in it may not be you know that finite apparently like for cyber security for example seem like there's tons and tons of jobs apparently however they're looking for people with experience and that's like the you know big thing so there's like a emptiness of amount of people with the actual experience so they need more of but then also too in these other jobs you have not only people fighting against experience but if you're like here in America you're fighting against other people too from other places who are also looking for a job too so it's kind of like a it's a lot Never Lie then you got remote work too so not only can the company you know not necessarily have to physically have you here they can again hire somebody from a different country somewhere far away and pay them a whole lot less you know that's something to also think about too and then we got election season going on too and from both parties immigration policies have been talked about so we will see we will see how they how the rest of this year going to end up going with this again I got my fingers crossed maybe closer to when you know time to vote at least hopefully then we're going to see you know maybe an influx of maybe job opportunities for people but from right now what I've been seeing even you know from months ago seemed like the tech layoffs are coming even more like it's just not stopping I've been hearing again like during the summertime people were saying hey it's increasing but it seemed like they're uh kind of going back it's like we're getting less and less which is crazy right now which is freaking crazy let's go and play this next one here and this okay look at this layoff announcements in 2024 so it looks like this was what 8:14 so this is more recent let's see what jobs are going to be layoff people you guys I thought I would bring you the full list of layoffs that I've been talking about and full credit to jeneveve who put together this list but check this out just in 2024 we are in August and so sort of a little over halfway through the year and and the big Tech Cuts are in Full Effect Dell that video went viral where the employees voted to do remote work and as a result Dell said you know what we're doubling down on AI and we're cutting 20,000 of our Workforce and so for those that voted for not returning to office and this ended being sort of the result where they were the first on the chopping block but you have Dell you have Intel which I spoke about they recently cut 15% into it cut earlier this year PayPal Unity software twitch fumble Cisco just cut yesterday 4,000 people docy sign Riot pelaton Tesla Discord ukg I covered ukg at length earlier this year and Wayfair dual lingo and I am just reading hot off the press PA amount just laid off a good 15% of its Workforce and that they told staffers that you know the industry continues to evolve so basically media and Tech is going through it right now so that is the the layoff game but like I said it's not just sort of the the the individual contributors the the you know middle management you're going to see a lot of changes at the top of the house as well I just reported that Starbucks CE was out after just one year in his seat so aside from you know cutting a lot of stuff I think everybody has been in my comments like hey CEOs are taking advantage of the situation which they are given the economic pressures and financial pressures that they're cutting a lot of staff and going for operational efficiency but you will also see some big CEOs on The Chopping Block as well and I'm going to bring that news to you so this is your Elite recruiter doing the research yeah that's crazy that's crazy so yeah say 2024 tech companies have laid off what 126,127 of the workforce I think she said that they were going to be focusing more or doubling down on AI so yeah it's like not only again you have you know other people around the world coming over here to get jobs like in Tech then we also got AI as well so it's a lot it's a lot with that Intel cut 15% they may be maybe working with the AI into it I think that's the tax site if that is the tech site yeah I guess I could see them again maybe yeah having AI or maybe having some type of other software that they're using for that PayPal 9% okay Unity I think Unity is the gaming company or something along those lines for like gaming okay that's 25% twitch 35% that's big that is big and I think for twitch too it may not just not it may not necessarily be like with their technology I think low key the way that they're paying so many of these like new influencers and stuff like that I think that's probably one of the reasons why we're seeing a bigger cut so they can keep on you know sponsoring and doing all this for all these other streamers I think that's probably possibly probably the reason what the twitch is so high Bumble Cuts 30% I do remember hearing about Bumble if you guys don't know bumble is a dating app and it's like like more unique compared to other ones because it's supposed to have the girl initiate the compo so when you like match with somebody the girl is supposed to like respond to you first and then she has like a 24-hour time limit so that would made it unique however from what I was seeing the girls actually weren't you know responding back or weren't actually initiating convos like majority of the time so a lot of people started you know leaving the app so that's probably one of the reasons why Bumble is actually getting cut so that's funny I'm seeing that here cuz I was just like literally on Twitter seeing about that speedia okay probably have more software and stuff Cisco dauan 6% dang that's crazy too because you would think for dacuan they would be like a small closet group of people since if I'm not mistaken you can use you primarily use dacu sign for like signing documents online so I'm not I'm not exactly sure how they were over hiring for that but maybe they was just trying to save money snap Cuts haven't heard of that Riot games yeah we got some more gaming 11 % Wayfare indeed wow indeed 8% man that's crazy so the job site helping you find a job is laying out people 8% there and also too I want to say indeed has added some AI I think for like some of the ways that you can message Recruiters on there like if you're looking for a job I want to say they have some type of AI for that but maybe I'm thinking about LinkedIn too and then we got Tesla Pixar oh W Tesla 10% that's crazy too that is crazy I wonder will we see an increase in Tesla once they move to Texas or maybe they already have moved to Texas but I want to say they were like moving from like California to Texas and hopefully that increases everything there because well they'll be paying less taxes and all that Wayfair Riot games duo lingo 10% so yeah even the language apps we're seeing a a slight I guess cut out there now thinking about it too I haven't seen that many people use du lingo as much as I did back when Austin College however I will say the DU lingo go Instagram or yeah Instagram Pages lit they they be following Trends and all that they pretty cool and eBay okay now interesting interesting interesting let me guys like let me know in the comments if you guys were aware of any of these and do you think any of these companies going to be laying out even more people like by December or November of this year and here's the last one here and yes Tech layoff predictions 2024 hopefully kind of gives us a idea for 2025 as well but yeah let's go ahead and see feel bad for the person at Crow strike who pushed that update into production and caused that massive outage it turns out it was just one line of code that broke everything and the developer didn't see it but chances are this code got reviewed by multiple people if it was an update that big so it's crazy that everybody missed it but when you're laying off hundreds of thousands of people in the IT industry something like this was bound to happen eventually when you do this you're placing more and more burden on the people who are left working there and now you have these developers that are probably taking on Multi roles and doing more work supposedly crowd strike laid off 200 employees last year and I don't know if this number is accurate but this is what I was able to find but it probably also doesn't help that the CEO came out a few years ago and said that he regrets not firing people quicker I think a lot of companies have been doing these layoffs thinking that they can cut these people and still work the same way but I think many of them will soon realize that they actually needed a lot of those people and that's why I think in the near future we're going to see an uptick in Tech hiring because a lot of these companies are going to need more people to do the work and I think think we're seeing what happens when you lay off too many people and then you run into trouble yeah that whole Crow situation was crazy cuz I remember here at my job you know the craziness was kind of going on in like different areas and then talk to my mom and she's also dealing with this two air job and then talk to my girl you was dealing with stuff it's like everybody I knew was dealing with craziness during the crowd strike situation but yeah that that whole situation with everything being down and nobody being able to access their computers yeah now cross check what it's hiring more people so yeah I'm pretty sure we start seeing more you know attacks and different things of that nature like especially with cyber security like more cyber attacks and cyber you know software going down and all that those companies will then probably start you know hire more people but then you know we may be in a position that we they may start over hiring people and then maybe from a year or two from now we may see another cycle of big te layoffs and it just may be like a big circle it may actually just be big circle yeah cuz they want to make money which is understandable so laying out more people you can have more money but then when you're you know dealing with the situations of our software going down and we can't access a computer and our customers can't access things of that nature then you know they want to hire you know more people back so we can solve these issues but then they probably start looking at the money again after a while and they like hey we cut out these you know XYZ people we can make this money back you know it's just like a big circle it's just like a big circle so again I'm I'm hoping by the end of this year we you know we're going to see a a slight at least a slight influx more you know job opportunities for people who are entry level who are trying to get in but literally from all these videos seem like this is not going to be getting better which is crazy it's a guy I follow to on YouTube before the billions cool guy cool I've been following him for a while which is crazy like I don't know how many years but it's been it's been a very long time and he recently got laid out on his job and matter of fact I can show you guys let me let me put this up here real quick he recently got laid off and he you know just like talking about his journey and here you go let me show share this guy yeah here he goes you can definitely go ahead and subscribe to him but yeah he's losing my house I'm laughing because he not I don't believe he's actually losing his house I in the video you know that's just there make you want to click it and it works 84,000 that's how you do it that that's good that is good get those views man get those freaking views but yeah he's talking about that too cuz see was not in cyber security but he was in I cannot think of another thing in Tech and like maybe system not system ad man I cannot remember at the moment but yeah data engineer wow I was right there in front of my face but yeah he was a data engineer and it's been like four five six months and like he has experience like years of experience in this and he still can't get a job so it's like it's hard for people for sure or entry level if you have no experience and you're trying to get in but even for people who have exper experience they're still dealing with craziness right now like it's crazy like maybe for him it might be better for him maybe to go maybe toward cyber security I feel like possibly I feel like at least for cyber security side they're looking for people heavily with experience or any type of experience and him being a data engineer I feel like he can put a lot of his tools a lot of the different things and codes that you know coding languages and all that that he has learned throughout the years he can definitely apply that to you know cyber security side maybe on the engineer side but yeah yeah I just want to show that you can still have years of experience and still be doing it craz and still get laid out just like that and still be in a wild you know place in your life so definely start saving up right now and I'll see you guys in the next one
2024-09-11 05:09
