And the revenue? Did it more than double? If so, they got their money's worth.
It's a business and people have been numbed to companies being dishonest, but it's still a betrayal to hire so much, have them generate more money for your company, then drop them when convinient for the company.
>And the revenue? Did it more than double? If so, they got their money's worth.
Did that revenue double because of the contributions of the extra headcount, or because of the temporary artificial economic situation of that period that doesn't apply anymore?
From where I was standing, the revenue massively spiked during the pandemic way before the mass hirings even happened, let alone have those people become productive enough to have a positive impact on the bottom line. It was an open secret that a lot of newly hired people during that period were just keeping seats warm at home collecting nice compensations while playing videogames and doing next to no work (a lot of people were gloating about it on reddit and in my circles).
Given that knowledge, was it any surprise for anyone that this was not a sustainable increase and a correction would follow at some point in the future?
> but it's still a betrayal to hire so much, have them generate more money for your company, then drop them when convinient for the company.
Agree, but most tech companies aren't there to provide social services, but to make a profit, as much of it as possible. If people want ethical employers that will never let them go, maybe they should give up on 400k+ TC big-tech jobs, and become school teachers, nurses or social workers instead for much less money.
There are plenty of tech jobs out there that won't crash or won't let you go the moment the shit hits the fan, but they also won't pay anywhere big-tech TC.
It's like gambling, big money also comes with big risks. Similarly to 2008, the ones with the biggest compensations tended to also be the first ones to be let go in the process of reducing operational costs.
People aren't complaining about making bank, earning orders of magnitude above average pay during the good times, right? Then why do they expect sympathy when the charade that made them bank for a while comes crashing down?
>or because of the temporary artificial economic situation of that period that doesn't apply anymore?
A mix of both. Clearly if they thought they could get double the money with the same amount of people they would not have gone on a hiring spree.
If you want to take an inference: most companies post layoffs are still larger than 2019. So that implies that the inflation wasn't all temporary.
>but most tech companies aren't there to provide social services, but to make a profit,
Sure, companies will be as evil as regulation allows them too, nothing new. As I said, just becsuse people are numb to it doesn't mean we shouldn't call it out.
>There are plenty of tech jobs out there that won't crash or won't let you go the moment the shit hits the fan, but they also won't pay anywhere big-tech TC.
Oh it's okay. I work in games. I get the worst of both worlds, this isn't about chasing total comp for me.
My #1 goal is growth and it just feels like it stagnated in the professional conrext. Spending as much time looking for a job these past 2 years as I am working jobs.
I've just kind of accepted the plataeu and am doing some indie work. But I still need some stability, and it's not like "lower paying" (so, well paying but not close to 400k total comp) are biting any better in this market. So may as well apply yo what I know.
>People aren't complaining about making bank, earning orders of magnitude above average pay during the good times, right?
My sector is :)
>why do they expect sympathy when the charade that made them bank for a while comes crashing down?
Outside of the above reasons: becsuse it's not sustainable. Stability is a big factor in any job market and in All sectors it feels like an all time low. Loyalty/tenure is dead and that's going to cause a huge brain drain across all white collar work as the seniors who live in an age of proper retention take off. It's a ticking time bomb.
I don't care about sympathy, we're on the internet. I do hope at least some people can look at the grander picture of it all, though. A storm is coming, not necessarily I the next 5 years, but maybe 10-15.
