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Nairaland Forum / Science/Technology / Programming / Most Of The Global Layoffs Have Been In Tech (15977 Views)
With The Recent Layoffs In Tech Worldwide, As A Beginner I'm Currently Depressed / Can You Survive If You Stopped Working In Tech? / Why Is It That The Things That Give Money In Tech Are Always Hidden? (2) (3) (4)
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|Re: Most Of The Global Layoffs Have Been In Tech by Neoteny7: 7:04pm On Jan 29|
It's not LPO that's the problem, most of the tech firms you cited are publicly-listed companies.
COVID 19 lockdowns led to high growth as people work from home, absorbing products from consumer goods to commercial services. Most firms had to hire to sustain the growth rate. Remember, most Fortune 500 companies are not too inclined towards profits as Nigerian businesses are; rather, it's growth, prospects of more growth which in turn increase values of shares and the speculative markets that define their activities.
Now, with lockdowns largely gone and disruptions in supply chains as well as the Ukraine war and the consequent increase in interest, a global recession is expected, which is making many firms to proactively cut costs to manage their exposure.
Also, these firms have tens of thousands of employees simply because they have a global footprint.
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|Re: Most Of The Global Layoffs Have Been In Tech by Iolo(m): 7:07pm On Jan 29|
I think you mean to say generally most tech companies are over bloated, not that they can be run with only 10 employees.
There are a few reasons why companies like Google and Microsoft end up with 100k employees.
1. Keeping the lights on: A few employees can write the lines of code for the MVP product (for example, the very first version of Uber was written in a few days and used by Travis and his friends). Now as a business scales you need to add more layers to handle things that come up. Bug fixes, Infrastructure maintenance, Customer support all this can not be done by a few employees. Each of these tech companies can receive 1,000’s of support requests on a daily basis. Also, as the software or app gets used on a variety of platforms (think mobile, desktop each with different OS’s) the product needs to continuously adapt to the requirements of these platforms for optimum performance. You need specialists who understand these platforms and can bring out the best in your app on them.
2) Innovation: it’s not enough to build a product, at some point you need to think ahead otherwise your competitors will do so and best you (I.e. Apple and blackberry). Innovation falls in two brackets - ongoing product improvements based in customer feedback, product discovery and next Gen innovation where you come up with something out of the ordinary like ChatGPT. If you don’t have employees worrying new ideas, your business will die very soon.
3) Business operations: every business needs people who will run it. These aren’t engineers but think of roles like HR, Legal, Risk and Compliance and people managers who ensure you don’t run foul of ever changing regulations in countries around the world. Companies like Google and Meta keep getting fined millions of USD by the EU and other regulators around the world for one of the other. Now imagine they had no one focused on these areas. They would probably have been shut down or fined more heavily as ignorance isn’t a reason to violate a law or legal requirement.
4) Sales: this one is straight forward. You need a marketing org and sales org to get the $$$ coming in. Especially in a B2B setting.
5) Competitive edge: Companies have to keep hiring to keep the best professionals away from the competition. This is something they have to do to lock in talent. this is where you have a point as it can lead to bloated workforce, but some would argue that it is a business necessity as if you don’t have best talents working for you, you might as well not have a business.
There’s a couple more reason but I’ll stop here. I hope you get the gist.
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|Re: Most Of The Global Layoffs Have Been In Tech by AreaFada2: 7:07pm On Jan 29|
Ahn ahn! Who go come remain then?
What next? Reduce human population to 1bn people?
|Re: Most Of The Global Layoffs Have Been In Tech by pocohantas(f): 7:14pm On Jan 29|
Restaurant owners. Na why I wan open buka. Make I see the werey AI that can sell shaki with soft ponmo.
19 Likes 1 Share
|Re: Most Of The Global Layoffs Have Been In Tech by obiekunie01: 7:21pm On Jan 29|
or less. . .
|Re: Most Of The Global Layoffs Have Been In Tech by UyaiIncomparabl(f): 7:23pm On Jan 29|
|Re: Most Of The Global Layoffs Have Been In Tech by AreaFada2: 7:26pm On Jan 29|
What Chinese cannot do does not exist o. They can even make a robotic cook called Iya Basira, Mama Onome or Mama Nkechi who can make Gbegiri, ewedu, ofe onugbu, ofe Owerri, owho, idika ikong and pepper soup more than real people.
|Re: Most Of The Global Layoffs Have Been In Tech by Halifaxguy: 7:42pm On Jan 29|
No matter what there are still high demands of Software developers, Data Engineers, Cloud Engineers, data scientists etc. My current company is massively recruiting for Azure Data Engineers and software developers. Any one who has good programming skills and cloud skills like Azure, AWS or Google cloud will never get short of high paying jobs offers.
1 Like 1 Share
|Re: Most Of The Global Layoffs Have Been In Tech by LastProphet: 7:42pm On Jan 29|
You are definitely an economist, very sound analysis
2 Likes 1 Share
|Re: Most Of The Global Layoffs Have Been In Tech by obam41363: 7:43pm On Jan 29|
He's right to an extent though. I did a research on TikTok and 2go companies and it will amaze you that very few people are involved in the day to day running of these tech companies.
|Re: Most Of The Global Layoffs Have Been In Tech by beardedboy(m): 7:51pm On Jan 29|
Lol. You obviously aren't in tech.
Software development today has grown bigger than what a lean team can handle.
For example, a typical team needs:
1. a lead engineer.
2. You need a software development team.
3. You need a frontend engineering team.
4. You need a DevOps team.
5. You need a frontend design team.
6. You will need a data science and machine learning team.
Software engineering is not ordinary html and CSS.
1 Like 1 Share
|Re: Most Of The Global Layoffs Have Been In Tech by pocohantas(f): 7:51pm On Jan 29|
I go catch the robot beat am. Na 2 by 2 I go use dey knack am.
|Re: Most Of The Global Layoffs Have Been In Tech by beardedboy(m): 8:00pm On Jan 29|
sircatherine45:Perhaps, you should read about GANs and deep learning.
Many schools have detectors to know if a content was created by an AI. Google is doing same.
Please don't use ChatGPT for foreign students.
8 Likes 1 Share
|Re: Most Of The Global Layoffs Have Been In Tech by greenmouse(m): 8:14pm On Jan 29|
Most tech employees are the cause of the layoff, they price themselves very high and are easily laid off.
|Re: Most Of The Global Layoffs Have Been In Tech by sircatherine45(m): 8:14pm On Jan 29|
It is possible to use a customized paraphrasing tool 100 times to achieve a research untraceable to any AI detector software, only if you know how to do it.
I'm learning DL. Also trying to create content using supervised learning.
The paper was for a Nigerian student.
|Re: Most Of The Global Layoffs Have Been In Tech by sircatherine45(m): 8:19pm On Jan 29|
You need 1, 2, 3 and 5 can merged if the person is a lazy folk to use template, 6 must be specific, depending on the specifics of the program.
Are you into SoftDev?
|Re: Most Of The Global Layoffs Have Been In Tech by tiamiyukunle69(m): 8:26pm On Jan 29|
Medical, food business and any agric based corporation
|Re: Most Of The Global Layoffs Have Been In Tech by profmallor: 8:48pm On Jan 29|
The Tech companies experienced massive revenue growth during the COVID crisis, and they projected that it should be the new norm. They didnt envisage a global recession would follow immediately after majorly as a result of the Ukraine war. Now they are forced to lay off as growth has slowed down drastically because people are reluctant to spend. I believe as soon as we are out of the 2023 recession, and spend increases, Tech companies most likely would start to hire all over again.
|Re: Most Of The Global Layoffs Have Been In Tech by DissTroy(m): 8:55pm On Jan 29|
The highlighted is why I'm leaning towards continuing to bootstrap the fintech product I am building in the meantime. If and when I get co-founders, it only would be tech ones who understand VC culture so they know scaling at its own pace works best.
A document signing startup raised $5 million the other day as featured on Y Combinator and their business model is sketchy.
|Re: Most Of The Global Layoffs Have Been In Tech by webizone(m): 8:57pm On Jan 29|
It was during covid-19 pandemic in 2020, I discovered the recession-proof businesses.
*Health blow that time sha but it was health related that's why.
|Re: Most Of The Global Layoffs Have Been In Tech by tradepunter: 9:16pm On Jan 29|
I laugh at lot of Nigerians who just shout tech tech tech.... Holding funny meet up and discussing fuk all.
My company is the most techie company ever but our focus is defense industry..... And we are 12 in total.
I will leave it at that.
|Re: Most Of The Global Layoffs Have Been In Tech by AK481(m): 9:38pm On Jan 29|
During covid 19 and work from home ,a lot of IT personel were employed ,after covid .its normal to cut it .
|Re: Most Of The Global Layoffs Have Been In Tech by saajus: 10:14pm On Jan 29|
And the AI robot will do post-care for patients too or do you think surgery ends after the operation?
Healing starts after surgery and several kinds of research have proved human touches aids healing. Maybe in the future, we will be able to build robots that have souls that could touch your psyche, then we will have a different discussion.
Ask anyone abroad who is a nurse or Doctor if they've ever lost their jobs before or feel threatened. I am talking of the present. The technology could move to another level soon and they will create a robot replica of you and we won't be able to differentiate robots from humans.
|Re: Most Of The Global Layoffs Have Been In Tech by headboyprince(m): 10:22pm On Jan 29|
AreaFada2:lol, you must kidding if you think AI, cant cook all those foods...
just feed the AI, the ingredients, and procedure, and it will cook it perfectly far better than you...
|Re: Most Of The Global Layoffs Have Been In Tech by headboyprince(m): 10:29pm On Jan 29|
sircatherine45:of course, you research or project writers just copy from Google, Chatgpt have already replaced research writers.. :Donly a person who doesnt know of teh recent AI techs will hire a reaserch writer...
|Re: Most Of The Global Layoffs Have Been In Tech by NuCypher: 10:36pm On Jan 29|
tensazangetsu20:You don't even have to go too far. Nairaland is one, except it isn't well-run like that.
|Re: Most Of The Global Layoffs Have Been In Tech by NuCypher: 10:42pm On Jan 29|
thebosstrevor1:You've got a good point. One wonders why a company like Pinterest should have any more than a 100 employees. Instead they have 3200. One experienced teenage developer can literally run that app from his basement.
|Re: Most Of The Global Layoffs Have Been In Tech by GreaterFuture(m): 10:57pm On Jan 29|
Leebeedo:Yes, the Example of Google is not a Good one
Other tech companies, yes, maybe...
But Google Or alphabet, Facebook, Microsoft... very wrong. They obviously need way more than 50 or some hundred workers...
|Re: Most Of The Global Layoffs Have Been In Tech by beardedboy(m): 11:01pm On Jan 29|
sircatherine45:Template, you say? A multimillion dollar firm should use template? People who left a whole Bootstrap framework because it makes website look 'bootstrap'.
These companies are mining and selling data. Their data experts must be topnotch.
They also need algorithms to rank contents in users timeline based. And they're always improving their algorithms and building anti-spams because spammers are evolving.
Most importantly these companies are not like ours. They measure their uptime in "point nine nine"s.
You know what that means? AWS for example has at least 99.99% guarantee. The weakest of those companies might be 99.9% guarantee.
Even with all these hires, people suffer burn out.
|Re: Most Of The Global Layoffs Have Been In Tech by smile11s(m): 12:38am On Jan 30|
Repackaged and repositioned here.
|Re: Most Of The Global Layoffs Have Been In Tech by Nobody: 12:39am On Jan 30|
0 korrrrr....0 niii..
0 for olodo!! (no oofeinse)
|Re: Most Of The Global Layoffs Have Been In Tech by MemoriesAndMe: 1:46am On Jan 30|
I guess the tech guys affected may be the old ones that refused to upgrade themselves to newer technologies.
Im a tech guy and have worked for many firms here in the US since over 12 years now and haven't seen anyone in my department laid off, may be fired for various reasons or resigned for better opportunities, but not outrightly laid off. Rather more skills are being scouted from everywhere, including universities for fresh brains.
IT space is pretty secure in my opinion unless the person is operating on expired technologies that a firm doesn't need anymore and can easily let him or her go without feeling any loss at all.
Tech requires constant learning, certifications and upgrades. Firms stick with employees that do that. I can leave any job now and pick up another in less than a month, so the rush for tech guys here in the US is huge as long as you have the required skills and certifications, recession or no recession, tech folks are always in demand here.
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