thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

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.

thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

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.

obiekunie01:


i laugh at you in AI driven Medbots.

AI driven robots are far better surgeons than 80% of human doctors.

In fact, some downloadable apps perform better patient diagnostics than human doctors.

70 years from now, the medical industry will be 100% driven by AI med bots.

Doctors will be among the first to lose their jobs totally to bots. followed by the below listed:

nurses
Accountants
Sales/marketers
managers
lawyers
artisans from electricians, mesons, carpenters, mechanics, plumbers, etc.
programmers
teachers
police
army
farmers, etc.

Ahn ahn! Who go come remain then?
What next? Reduce human population to 1bn people?

AreaFada2:


Ahn ahn! Who go come remain then?
What next? Reduce human population to 1bn people?

Restaurant owners. Na why I wan open buka. Make I see the werey AI that can sell shaki with soft ponmo.

AreaFada2:


Ahn ahn! Who go come remain then?
What next? Reduce human population to 1bn people?

or less. . .

pocohantas:


Restaurant owners. Na why I wan open buka. Make I see the werey AI that can sell shaki with soft ponmo.

Lol.

pocohantas:


Restaurant owners. Na why I wan open buka. Make I see the werey AI that can sell shaki with soft ponmo.

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.

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.

Neoteny7:


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.

You are definitely an economist, very sound analysis

thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

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.

thebosstrevor1:


My assumptions are not wrong.

The most profitable tech companies aren't run by thousands of employees.

The idea of thousands of employees working for a tech company started with Venture capitalism because of the idea of hyper growth for IPO...literally this type of operation often leads to mass layoff when there is economic crisis.

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.

AreaFada2:


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.

I go catch the robot beat am. Na 2 by 2 I go use dey knack am.

sircatherine45:
The reason why they are global layoffs is that AI will do what 10k employees will do, efficiently and timely.

As a research writer, my job is at stake. I used chatGPT to write a project on computer hardware business. Within 1 minute, it gave me a fantastic and excellent paper. I sold it to a student in a university and she got an A.

Imagine if chatGPT is connected to Google. That's may be the end (or not) of my research writing.

And who said you could run a tech company with less than 10 employees?

Dey play, you hear?

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.

Most tech employees are the cause of the layoff, they price themselves very high and are easily laid off.

beardedboy:

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.

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.

beardedboy:


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.

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?

Medical, food business and any agric based corporation

zed7:
Every profession has its peak, when you get to the peak, it starts to decline. The tried and trusted profession will still be medical. There's no substitute for it.

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.

thebosstrevor1:


in my opinion, I think the present VC model is flawed and also ruthless, the aim is to make money as fast as possible, don't they care if people will get sacked. They give large amounts of money to startups without a tested business model, they force you to mass recruit to grow fast, then make sure you raise again to mass recruit.

The VC model is like gambling, throwing a lot of money everywhere, hoping that one company will do an IPO to cover up the losses of other failed investments.. literally what that does is make the industry a place for mass layoffs and instability.

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.

It was during covid-19 pandemic in 2020, I discovered the recession-proof businesses.

They are:
- Food
- Entertainment
- Gambling

*Health blow that time sha but it was health related that's why.

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.

During covid 19 and work from home ,a lot of IT personel were employed ,after covid .its normal to cut it .

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.

obiekunie01:


oga wetin you talk??

you no nothing jon snow!

read this then come back and repeat what you just said!

https://developer.nvidia.com/blog/autonomous-robot-improves-surgical-precision-using-ai/

AreaFada2:


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.

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...

sircatherine45:
The reason why they are global layoffs is that AI will do what 10k employees will do, efficiently and timely.

As a research writer, my job is at stake. I used chatGPT to write a project on computer hardware business. Within 1 minute, it gave me a fantastic and excellent paper. I sold it to a student in a university and she got an A.

Imagine if chatGPT is connected to Google. That's may be the end (or not) of my research writing.

And who said you could run a tech company with less than 10 employees?

Dey play, you hear?

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...

tensazangetsu20:


Craiglist is an example. I dont think they have up to 20 people but thats a wrong comparison to a company like Google or Microsoft wheres then literally thousands of products with more being built each day.

You don't even have to go too far. Nairaland is one, except it isn't well-run like that.

thebosstrevor1:


in my opinion, I think the present VC model is flawed and also ruthless, the aim is to make money as fast as possible, don't they care if people will get sacked. They give large amounts of money to startups without a tested business model, they force you to mass recruit to grow fast, then make sure you raise again to mass recruit.

The VC model is like gambling, throwing a lot of money everywhere, hoping that one company will do an IPO to cover up the losses of other failed investments.. literally what that does is make the industry a place for mass layoffs and instability.

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.

Leebeedo:


Your assumption is definitely flawed. For instance, to run a tech company successfully like Google, you definitely need Support Engineers from different regions like EMEA, APAC. Trust me, you need hundreds of Supprt Engineers and back end developers for bug fixes and customer requests such as feature enablements and license management

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...

sircatherine45:


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?

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.

thebosstrevor1:
Like literally, most of the global layoff all over the world including Nigeria have been in the tech industry, from twitter, coinbase, amazon, jumai to Quidax.

Seems like tech businesses aren't recession proof.

First and foremost the businesses in tech are over valued because of speculation and ipo purposes, they employ a lot of people and then when recession comes, they are always the first to layoff lot of workers.

Till today, i still dont understand why tech companies will have 5k to 50k workers.

Back in the days, you only need 5 to 10 employees to run a very successful tech business. And most of these businesses were profitable.

interesting topic,.

Repackaged and repositioned here.

https://gist.am/q/most-global-layoffs-including-in-nigeria-have-been-in-the-tech-industry

Cutehector:
Everybody find your square root o.

0 korrrrr....0 niii..

0 for olodo!! (no oofeinse)

thebosstrevor1:


The layoffs affected every department in tech, lot of skilled tech workers were payed off

Tech companies competed heavily for talent, they hire at hugely inflated salaries in a time of massive growth, and radically increased the salaries of some veteran employees in an effort to not have them poached when they needed them the most.

That's why these layoffs can appear quite random and across the board. They're not going to tell an employee that their salary is out of the designated company range and that they'll have to accept a 20% or 30% pay cut. They're correcting the situation and are normalizing their pay ranges with large layoff rounds.

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.