How Working For Google, Amazon, And Microsoft Lost 'Dream Job' Status
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- čas přidán 7. 05. 2024
- Despite blockbuster earnings from giants such as Alphabet and Microsoft, layoffs continue to ripple through the tech industry.
Layoffs.fyi, a platform monitoring job cuts in the tech sector, recorded more 263,000 job losses in 2023 alone. As of April 2024, there have been more than 75,000 job losses in the industry so far.
"So instead of rewarding the growth that we saw them all pursue years ago, they're now rewarding profit," said Jeff Shulman, professor at the University of Washington's Foster School of Business. "And so the layoffs have continued. People have become used to them. Regrettably and sadly, it seems that the layoffs are going to be the new normal."
Even though mass tech layoffs continue to dominate headlines, the labor market still seems strong. The U.S. economy added 303,000 jobs in March, well above the Dow Jones estimate for a rise of 200,000, with the unemployment rate edged lower to 3.8%.
According to Handshake, a popular free job posting site for college students and graduates, the tech layoffs have prompted new workers to seek other opportunities. The share of job applications from tech majors submitted to internet and software companies dropped by more than 30% between November 2021 and September of 2023.
"Part of the reason why this is happening is because stability is such a major factor in students' decisions around what types of jobs they apply to and what types of jobs they accept," said Christine Cruzverga, chief education strategy officer at Handshake. "They're looking at the headlines in the news and they're paying attention to all of the layoffs that are happening in Big Tech, and that makes them feel unstable."
Mass layoffs have eroded the shine of the tech industry, which is why workers are questioning whether getting a job in the tech industry should still be regarded as a 'dream job.'
"For the people who are chasing like a tech dream job, I think keep your options open and be realistic," said Eric Tolotti, senior partner engineer at Snowflake, who got laid off from Microsoft in 2023. "Don't just focus on one company and feel like you have to get into that one company because it's the dream."
Watch the video to learn about tech workers' sentiments, considerations for aspiring Big Tech employees, and more.
Chapters:
0:00-03:11 Cold Open
03:11-05:11 Chapter 1: The golden age of tech jobs
05:11-07:22 Chapter 2: Start of tech layoffs
07:22-10:21 Chapter 3: Is tech’s shiny image eroding?
10:21-12:00 Chapter 4: What’s next?
Produced by: Anuz Thapa
Edited by: Kevin Heinz
Narration by: Jordan Smith
Graphics by: Christina Locopo, Jason Reginato
Supervising Producer: Jeff Morganteen
Additional Footage: Getty Images
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How Working For Google, Amazon, And Microsoft Lost 'Dream Job' Status
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Seriously, many didn't notice this 2 to 3 decades earlier? Mass Automation began few decades earlier starting in Western nations that Went Worldwide where Automation began 1000s of years earlier including with Waterwheel technology that was used in Agriculture, Metallurgy 2000 years ago in Europe, Asia, etc. Entrepreneurship is what's needed More than Labour Worldwide in 21st Century where AI is Just 1 of the 100 Disruptive Mass Automated Tech where the Periodic Table for the 100 Disruptive Tech of 21st Century was put up in 2018 (They are all Mass Automated Tech where AI is only 1 of them out of 100).
Entrepreneurship needs lots more skills, education, etc within integrated areas of Humanities, Arts, Social Sciences, Natural Sciences and Formal Sciences
The tech companies became un ethical at a large scale. There technology is being used to harm society and companies like Meta, Google and Microsoft all know this and yet they still do it! They hired physiologist to exploit human behavior and will get someone on an H1B Visa to write code to imprison us all and have the audacity to spin it as the next generation of AI. Everyone has collectively lost their minds when data shows heavy use of tech is leading to more depression, self harm and people physically unable live and put down there cellphones. This has real world affects on parents neglecting there kids and algorithms pushing people to more and more extremes politically. While the search engines have been filtering the news people see for years adjusting search results individually. Chamath Palihapitiya, Antonio Garcia Martinez and Sean Parker all on public record says companies like Meta are harming society and now the world because of their reach! I don't want to work for these companies because I think they are dangerous but people are so blind to criticisms of any big tech companies including Governments, media and individuals because they heavily depend on their services to function. Were at a point these tech companies ever going to be accountable? They becoming shadow Governments that can influence elections for their own personal interest. That is why I don't want to work for them! They are absolutely now doing real world harm to innocent people and people are too blind to what's happening because they cant see the bigger picture!
@@rmot2911❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
1:20 Ouch
How can you get the way?
These tech companies, and their youthful leaders, grew old like the rest of corporate America.
It's almost as if a certain shareholder is telling these companies to do the same thing...hmmm
@@frenchfryinyourmcdonaldsba8688 1sr43l
Pandemic accelerated that too
Poor leadership just spreaded out more.
@@victorochoa3662 and what in the world does Coffeezilla have to do with this exactly???
When I started in tech over a decade ago, it was so obvious from the beginning that these companies wanted you to be part of their cult and if you pushed back even a tiny bit, they kicked you out without warning. As a senior engineer now, I’ve always told folks, NEVER EVER trust or put faith in a company or business that you don’t own, the coffee maker will always outlast you.
Lo senior engineer bro you make 300K+/year, get outta here with your advice
@@LaSombraa How do you know how much he makes?
A cult is a harsh but accurate term. These companies repeat so many slogans that they don't abide by like "strive to be earth's best employer" but then they lay people off without any severance. Working at companies like that, it's hard not to be jaded because they rarely act according to their own alleged principles.
Surely as a senior he is best placed to give that advice...
I agree people need to start taking a more mature approach to work, be more business minded. You are supplying your time in exchange for money. A lot of people are speaking about their ex companies as if it were a first love. all companies have a number one objective to make money for their shareholders. Once you keep that it mind it becomes easier to ride these waves.
People always forget that its just a job. Please dont forget about your personal goals and interests.
Personal goals and interests were only obtainable in the post economic collapse of 2008 through having an actual career (a secure guaranteed employment having worked over 5 years in the same company) to pay for the high prices of vacations and having a home or a car. No job...then no dream or goal or interests!
That job pays for your personal goals and interests to stay alive.
You also have a choice to do what you love.
And that’s an issue to these corporations that say “we’re a family” stuff. They expect you to give 80% of your week and 80% of your life to THEIR business and THEIR dream. No. I have a life and personal goals too, and a 9-5 (80% of my week) devoted to someone else’s dream, won’t work for me.
@@Saiuriyon Don't work for a company whose dreams don't match with your dreams.
That's it.
Some of the great advices I received a long time ago when I was a novice in the corporate world.
1) Nothing is forever, including your job.
2) Your superiors are not your friends.
3) Everyone is replaceable.
4) Organizations exist for their own benefits, not for employees.
5) Have a minimum of 6 months' worth of living saved as a rainy day fund. Therefore, if you get fired tomorrow, you will not go mad.
Im writing this down
Sorry we can’t afford to save up six months worth of expenses. Not all of us have a privileged salary
5) have 3 years in savings, plus healthcare fund for 10x more
@@MB-xv7er Then save one month to start out, even if it takes a while
Who makes up the organization if not employees? or is it the difference between leadership and ground workers?
You CANNOT say 300k jobs CREATED without stating WHAT JOBS were created. MOST job creations are part time and NOTHING jobs
With this benefit and no time off.
Lmao, whjat every president does to pad their "employment numbers" when they have to get re-elected, they use every fast food resturant like part time Mcdonald as their "How many jobs were created". Fools don't realize that Mcdonald over hires on purposly so they can boast how many employee they have.
Many of the disappearing software engineering jobs are in RnD divisions, but most of these companies are pivoting away from RnD towards guaranteed profits.
Precisely... Most are 2nd or 3rd jobs per individual
What is worse is that a lot of the jobs are part-time with a Monday-to-Friday schedule. So you are basically a full time employee but you aren't paid a full amount, you don't get benefits working part-time, and it's hard to get a second job when you have your whole week taken up by this part-time job
Soft Engineer here. People do not realize they have all these amenities to keep you at work longer. They serve dinner there, have wifi on the way to work. Why do you think the turnover rate after a year is so high. I would rather go home to my wife and kids and have a normal work schedule for less pay to live my life.
Did you eat crap or crab?
Yup and also... while things like sofa, sleep rooms, gaming consoles seem awesome ... no one actually uses them because your seen as a slacker.
@@dalar2so it’s used as a trap? Who to lay off ?
i can’t imagine how one could feel comfortable participating in any of the amenities, i would feel like an imposter “working” at a company that thousands have tried to enter
Jimmy: "Hello... what is this meeting for?"
HR: "Hello Jimmy! As you probably know, our company revenue has suffered this year by 5% going from 100 billion to merely 95 billion in net revenue... so we are basically trying to 'trim the fat' as the saying goes" 😊
Jimmy: "But but I have been working overtime without extra pay and I am never late or call sick and and..."
HR: "We are aware of your amazing service to our company!" 😊
"But on a completely unrelated topic here is a CCTV footage of you playing the playstation 5 minute before lunch time!" 😊
"EXPLAIN YOURSELF!"
Unemployment at record lows? Too bad we replaced dream jobs with gig jobs 🤮
Good thing we voted for Biden the Puppet of Corporates
@@johnnyson7474 Trump literally cut taxes for corporations and the rich.
@@johnnyson7474bro, sweet gimmick profile! All those guys you follow definitely aren't bots!
@@johnnyson7474you dumbo
Unemployment should be at its highest point by now. This is the result of Millennials not wanting to keep the more senior employees hired in the workplace but putting in the young 20 to 50 year olds instead. The largest age group now being shoved out the door of many businesses are the Baby Boomers of the 1950s and 1960s. Not even offered a retirement package...just terminated for 'just cause' so the worker cannot claim Unemployment Insurance Benefits.
Loyalty to companies has never been a good investment.
Go back in history, and you'll see how employees keep failing for the same scam for decades. The rhetoric is always the same: "X yrs being loyal to this company, and they didn't even think twice when they laid me off."
Stop being shy or fearful about asking for more money or benefits when they need you; bc when they don't, you'll be gone.
Tech industry never had loyalty but instead people had golden handcuffs which incentive staying a few years. If you look at the turnover its usually ~2 years then tech workers jump to another company.
It used to be good when pensions were common. Not anymore
Actually, pensions were tokens rec’d for loyalty. Now, since 401k has replaced pensions, there is 0 expectation of loyalty.
I mean it depends…in most European countries you can’t get fired. So once you commit to a cooperate it can pay off as they can’t get let you go unless you want to leave on by your own choice
The expectation of never ending monetary growth. What destroyed "Dream jobs" or the "American dream" is simply just pure GREED.
Greed has been around since the beginning of mankind so it seems that there is more to the story than just greed, such as the debt based monetary system that helped to allow this mess to happen in the first place.
Greed is embedded in free market capitalism. Americans have to realize that and stop voting for liberists
The concept that the only real reason a corporation exists is to deliver maximum value to the shareholders, is what killed the American dream.
Capitalism is fundamentally incompatible with human dignity and a decent life
Less dream, more delusion. It's just a job at yet another company/corporation. They will only keep you for as long as they think they need you or until you cost more than what you're worth to them. Welcome to the reality of everyone else.
Greed has always been around. What changed is that corporations figured out how to use democracy against the people.
There has never been a lot of "glory" in what I chose to become a plumber, but at least I've never been laid off.
Your job is more critical than any of these tech roles lol.
Yup. Plumbers will always be in demand. Not to mention its easy to start your own business.
@JensSchraeder oh yes. Am a nurse, my ex husband swore to make me loose my license and he tried. I told him if anything ever happened I would just train in hvac. It's 4 months and am sure after 1 year of working I could be making $40/hr then have my own company subsequently.
Lol plumbers can make as much as some of these tech jobs
Apps are temporary, but poop is eternal.
The workplace food, perks and amenities is all smoke and mirrors to keep you on their campus for as long as possible to extract every once of productivity you have to give and ensure you don't have a life outside of work.
Exactly there's a reason the dinners are after 6 pm they want you to be in office until at least 8 pm.
Some people come in for breakfast and lunch then leave. The system can be gamed the same you claim it tries to game you. Also everyone knows that's why the company does it, the company isn't secretive about it, it makes sense. At least they offer an incentive, unlike many other employers who don't pay half as much and expect to stay late when you have to.
The other thing now is remote work. Now they can find talent anywhere…meaning abroad. Why pay Western wages for equally talented folks elsewhere that are cheaper. My sister in law worked for Oracle and was tasked with finding foreign talent, no visa needed just good internet.
It's a trade-off, not smoke and mirrors. You choose whether you want to stay late. None of the coworkers on my team choose to do so, but if someone wants to, isn't it a good thing that they also get free food?
@@yihezkel I think the point is companies pitch it like they do these policies out of the goodness of their hearts lol when no they make policies like this to extract as much value from employees as possible.
The real dream shouldn't be dream job or the American dream....it should be the ability to enjoy your life
For some people enjoying their lives means having a meaningful job with a great team around them.
Thatll never happen until mating opportunities are equal. As long as you have to compete for a chance at partners for mating or pleasure, there will be competition, heiarchies, capitalism, feudalism, dictators, facist, competitions, consumerism etc
@@maniac50ae14 No one owes you their vajeena incel
That's not a dream then, that's their delusion@@xentric313
@@maniac50ae14 what about when you delete mating
I work for government and we stayed working thru the pandemic. And now, it’s crazy to see that new graduates want stability more than money. Good for them.
nice wanting, until you cannot have!
Approx 70 candidates had to take a 2 hours written test to compete for ONE administration assistant job for a city job
Same here, I work in GovTech as a Dev/QA engineer in DevOps. So far I still have my job and Gov jobs are known for stability. Though I don't make as much as what the tech giants give, I still have a great job with a great salary.
Grateful for my position in county government. It’s not a glamorous job by any means but it’s recession proof/lay off proof, and the benefits are great. Not to mention, the pension.
True . I work for the city of Dallas and we work during the pandemic. Well it was worth it , because I get to retire in three years at the age of 50.
The honey moon period is over and these tech companies now simply go back to being like any other companies which prioritize shareholders' values over anything else
I never had a dream job. Working sucks and I hate when I have dreams where I'm working.
You probably think you’re gonna live off your parents forever.
@@I-hate-sundays Except I don't and haven't since I was 18. I work but that doesn't mean I like it. I have to do it.
Sounds like you hate Sundays, and hate work also, but would rather blame your fellow worker for your hate of work lol 😂 @@I-hate-sundays
Got laid off from my first tech in September after 9 months, couldn't get a job despite being qualified and getting good interviews...now I just work at Costco full time for the stability and good enough benefits. Pay is crap but no layoffs here haha
Can open your own startup
@@freespiritable honestly I have no idea what business that I could open in tech. I left academia to jump into the private sector, thinking they had lots of good paying jobs
Never give up..
Costco is a great employer. It doesn’t matter if you’re a cashier or in head office, you’ll do well there.
They NEVER put employees first!!! They put PROFITS first!!!
Well duh.! Why would you go into business if you can't generate a profit.
😆😆😆
Welcome to cap1talism
So when are you opening your company and putting people first? What happens when you make a loss in your business? I assume you will take on debt to run payroll?
It’s called capitalism!
I'm the only one who always thought this companies were nightmares. A " custom oil canvas; poker room". It's just a job; go to work and go home.
Not just you. These tech companies are masked dystopias with leaders and managers acting like complete sociopathic sycophants
They spend money on gimmicks instead of raising salaries.
When you expect employees to work 9-9 6 days a week, work is your home, silly. They even have “nap pods” because they require so many all nighters of their employees.
No I worked for them and thought that
Yep all those perks are meant to keep you in the office longer
I never saw working for any of those companies as ‘dream’ jobs.
When your livelihood depends on your company inflating its share price, you are eminently expendable.
I turned down job offer from Meta recently. Because they didn’t even allow me to do hybrid. I live a little far away from the office. It’s not worthed.
💯
A wise man once said, "I had rather be first in a village than second at Rome."
Not getting asked to interview with Google after I graduated college was the best thing to happen to my career; I'm now the lead engineer for a product supporting green power generation and isotope production. I don't have to worry about retirement and I can see my impact pushing society forwards; not just powering modern civilization, but improving health care, food safety, and fighting climate change at the same time.
To aspiring engineers: real jobs are out there, plenty of places desperately need competent software engineers to do a whole lot more than spam people with ads.
You lost me at the intersection of green and climate change. The brain washing succeeded.
Sounds like cope for not getting a job at Google lmao
@@AkuNoHana Bashing this guy for turning a setback into an opportunity. This is real life folks. Stop calling everything cope. Feeling good about making a big impact being the *lead engineer* at a small company is not cope.
That was Cesar btw
@@AkuNoHanaYou say this right before clocking in at mcdonalds, relax lil bro
This is most jobs in the US, not just the tech industry. Most companies will let go employees for nothing or to shrink down to stay lean. They will grow larger than needed, then make cuts where they can while maintaining operations. Thats a vast majority of jobs, not just the tech Industry.
while that's true, currently, the tech industry isn't cutting jobs to stay lean. For example, Elon just asked for a $50 billion bonus the day after the latest Tesla layoff. Microsoft laid off half of Blizzard gaming after spending billions to acquire them.
This is about tech leadership doing layoffs to chase their pet projects and just because the shareholders have been rewarding their bonuses for it
@@chihchang1139profits never suffer so I agree with OP. Business as usual
With how software scales as a product in comparison to other products, it can be much more severe in tech
wrong. it's definitely much more amplified in the tech industry. it's a cut throat and volatile industry.
It's feast of famine there. Stability is a joke.
@@LadyF71 The issue is that many of these companies aren't really aiming for profit, so much as they're aiming for constant "growth". There's nothing stopping these companies from being content with a modest profit and staying in their lanes, but over the decades, "modest" stopped being enough. Everything has to be about making more money, controlling more of the market share, increasing a company's stock value; and doing whatever they legally (and sometimes even illegally) can to do accomplish that.
"I put my heart ❤️ and soul in this company "
" I was a loyal hard working employee "
It goes on and on and they ( companies)still didn't care.
You have to realize, that many people when given a choice between saving money or being loyal, they will save money. Imagine your trying to buy a car and the salesperson says, "Please buy my car, I've been doing this for 20 years and have always worked hard." That should have little bearing on whether your going to buy some overpriced car. While loyalty can be important, economics is also very important.
@@Jimraynor45 if a salesperson was to give me that pitch it's not going to work on me. As for saving money yes its very important but even with saving a person fund will dry out if layed off or not enough income loyal is important but will they in return the loyalty to you ..
Thanks for all your hard work now go train these H-1B visa holders to replace you and who will work for much less pay and benefits.
@@JP-qb3ny exactly 💯 thank you for understanding what I was trying to get across
What did they expect? It's not their company. They're just employees performing a job function. The employer can end the relationship whenever and so can the employee.
Software is a great job, but a horrible career. This is the fourth tech bubble I have lived through so far.
Yeah but you can retire at 40.
@@zoner__that is true. Just gotta know when to jump the ship for another company.
Honestly, FANGG is FANGG. Once you have on your resume and worked there a little, move on. You already have to as experience and I have no idea why someone would want to stay loyal when they have gotten the experience and credential from
these companies.
You can retire only if you are lucky, the averages across USA and Canada are still middle class wages
They never had dream job status because I never dreamed of a job!
Lol ❤
@jealousmuch888
Self-employer way to go
I realized at 30 I didn't like work. I just liked the money.
So I saved hard, and paid off my house and car and retired at 51 on the reduced spending levels I'd grown accustomed to.
12 years later, I have a much better relationship with my daughter, son-in-law, and grandsons. I've been skiing almost the full year worth of weeks. And developed a small gig business that I enjoy a lot writing mods for minecraft.
Recent corporate gouging has been a bit of a problem but I'm still going to make it and have money left over when I die.
Never regretted leaving work. Never did anything at work that mattered except helping three people develop their careers when I was a manager. They are commented that I was the only manager who ever listened to them and help them grow as workers. That's about the only thing I am proud of from over 30 years of working.
The rest of it, I just gave up hours of my life in exchange for money.
Dream jobs still exist. I'm not in tech but I landed my dream job with my dream company in the aerospace industry. I've only been here for a month, and I can see myself here until retirement. Culture is very relaxed, great work life balance, pension on top of 401k! 3 weeks vacation with 40 hours absence with permission, 30 DAYS SICK TIME! $25k tuition fee assistance and so much more! Finally made it!
Bro what company ? Think I can get referral ? I am in DevOps
@@kestralz1 SpaceX. Jk jk 😂 I once was applying to SpaceX but read that workers were working a minimum of 60 hours/week. I’m sorry but there’s more to life than just work.
Nope, not spacex. It’s Collins Aerospace my friends! It only took me ten years and 20,000 applications to finally get in lol.
@@jitlvso Raytheon. Of course 😂
@@jitlv You're working on government/DOD/DCSA time. That's why you're so relaxed. Every time, the government stonewalls your efforts to push a project forward, due to some regulation, I bet you breathe a sigh of relief as that means an extra month added to your deadline.
I agree. I work in tech in Europe. Whenever I get a call from a recruiter from US tech company I’m getting anxious because the contract means nothing and I can be laid off at any moment without any prior notice. You just get to office and this is it: you no longer work there. Another problem with tech jobs is that it takes couple of months to get one. So the industry is very volatile. I’m not surprised folks seek more stable government jobs, because extra pay at tech giants only helps you to make through unemployment, you can’t really enjoy it.
Bo ho?
Tech companies have always had boom and bust cycles. I worked at MSFT for a while in the windows 95 timeframe. Huge amount of freebes, everyone had your own office, with a door you could close so you would not be distrurbed. People would put in a couch, chairs that hung from the ceiling, sleeping are next to desk, etc. Free food all the time. In returned you worked hard, really hard. One of my coworkers did not leave the campus for 7 days trying to make a ship date. I really felt like everyone was focused on the same goals and willing to do what it took. That is why many stayed for a decade or more, and some are still there today. Even when their were cycles of layoffs few complained because everyone was focused on making the best product we could.
I worked for Microsoft too and the industry has drastically gone downhill. The tech companies became un ethical at a large scale. There technology is being used to harm society and companies like Meta, Google and Microsoft all know this and yet they still do it! They hired physiologist to exploit human behavior and will get someone to write code to imprison us all and have the audacity to spin it as the next generation of AI. Everyone has collectively lost their minds when data shows heavy use of tech is leading to more depression, self harm and people physically unable live and put down there cellphones. This has real world affects on parents neglecting there kids and algorithms pushing people to more and more extremes politically. While the search engines have been filtering the news people see for years adjusting search results individually. Chamath Palihapitiya, Antonio Garcia Martinez and Sean Parker all on public record says companies like Meta are harming society and now the world because of their reach! I don't want to work for these companies because I think they are dangerous but people are so blind to criticisms of any big tech companies including Governments, media and individuals because they heavily depend on their services to function. Were at a point these tech companies ever going to be accountable? They becoming shadow Governments that can influence elections for their own personal interest. That is why I don't want to work for them! They are absolutely now doing real world harm to innocent people and people are too blind to what's happening because they cant see the bigger picture!
You aren't responsible for Clippy, are you? 😂
"Microsoft makes junk" - Steve Jobs. You didnt do a very good job did you.
How was it to actually be somewhat properly compensated? Must have been nice back in the day
@@davidminearI think Clippy was laid off as well, I have not seen him in a while. Poor Clippy 😮
As a techie who got laid off during COVID ; I find this victimization attitude disgusting from these high earners who not only grabbed huge pay but probably received huge severance package when they let go. Something many other professions can only dream off. Be thankful to what you had and part with that attitude .. no tech company promised you a lifetime of job safety and if you didn’t save for a rainy day, it’s not their problem. You know how many businesses went bankrupt due to Amazon. You didn’t feel much for them, did you.:¿.. also can we stop these god damn virtue signaling cr@p like “ we were part of something big”. You are not…none of us are. We are just a bit more lucky than many and lot less lucky than few.
thenks sirs keep the streets clean in inddia
It's crazy that there are SWEs at these major companies living paycheck-to-paycheck, even if they were sending money overseas. As a software engineer myself I probably make less than half of what they do (as a non-FANG worker) but I learned basic personal finance skills _immediately_ once I saw that first "big girl" check 😂
Not everyone at these tech jobs got severance! Stop spewing this nonsense. Some were contractors or worked for under a year and left with nothing.
Asserting that working at big companies like Google, Meta, or Microsoft defines a "dream job" is mindless propaganda! A dream job is any job that a person loves waking up in the morning to do. It could be a garbage truck driver, a train operator, an airline pilot, a programmer, an artist-anything! The true measure of a "dream job" is the passion and satisfaction it brings, regardless of the employer's size or prestige. 🙂
true.
Yes people only see what their eyes see.
True words! DO NOT BE brainwashed by the media.
These tech jobs in google i.e. is a slavery cant imagine as dream job😢
True spoken words.
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
ANGELA LYNN SCHILLING' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
The front of line is not who you work for how hard you worked it’s WHO YOU KNOW.
"WHO YOU KNOW" ...can also be in the firing line as well as their team. One just never know. Just make sure that you keep your industry certification up-to-date.
Exactly who did you sleep with last night will determine where you are working when you wake up in the morning.
@DavidHalverson Not even just that. But it's also who you are related to. Or even if you are the same race of people. I know a workplace that was mostly Guyanese. The manager was guyanese. Go figure!
Its not who you know. Its how many know you.
BOOTY Is IP now
“Efficiency” ie 1 person doing the job of 5 people.
and five people taking credit for the work of one employee
and AI is doing that 1 person's job all along.
No ughh Get me that robot .. Your commentting again bob
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you... prevent inflation
Thanks for continuing updates I'd rather trade the crypto market as it's more profitable. I make a good amount of money per week even though I barely trade myself.
A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some ‹professional advice. ‹it's totally inappropriate for investors to hang on while suffering from dip during significant
You trade also?, I
No I don't trade on my own anymore, I always required help and assistance
From my personal financial advisor
Some time ago they were proud of how people wanted to work for them. Now they just don't care anymore. It is that simples...
Samething happened with tech in the 90s. My dad worked at HP, they had a lot of amenities, baseball fields etc. They did a big 'picnic' every summer where they rented out amusement parks, then the layoffs started and they sold off the campus. I was always jealous hearing about Facebook and Google and how they offered so much free stuff like free food etc., and now that bubble is burting too
This is such an interesting video considering I just resigned from Amazon 2 days ago. Don't do it, Regardless of your position you are just a number.
@@rethinkcps2116 Take the job. Horrible place to work for, Extremely political. Worked there for 7 years and got the point of mentally and physically breaking down and walking away from the most amount of money ive ever made because there are so many better companies out there.
Which warehouse did you work at?
@@SuperMnunez Worked in one in New Jersey, Have been through 2 different warehouses though. Bad leadership has taken over.
Lol of course you’re just a number when a company has 1M+ employees world wide lol
@@LaSombraa Yes true, But I was also a part of management.
When tech companies started trying to please Wall Street, instead of their users and employees, they took a sharp turn for the worse.
I'm glad I got into the Government at a young age. The stability has been amazing & I've been able to easily transfer to different departments when things got stale or I wanted to promote.
As a newbie about to invest, you must have these four things in mind
1. Have a long term mindset.
2. Be willing to take risk.
3. Be careful on money usage, if you're not spending to earn back, then stop spending.
4. Never claim to know - Ask questions and it's best you work with a financial advise like
Elizabeth Cabral
You're right! I have lost a lot trading all by myself without a guide. It's been an uneasy ride for me. Who is your mentor please. how can i reach her I really need help in this bear market now?
Te/e gram
@cabraleliz THAT IS HER USER NAME
make sure you write the NAME completE
the first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professionaL.
The real reason as to the layoffs was that these companies overhired during the pandemic where tech usage surged and are now adjusting to a new reality. It’s something not many talk about. Also like all big corporations they started off as dynamic and full of opportunity but as they grew bigger they are now slow and lumbering giants that aren’t very lucrative to talent.
Worked at Google until 2021. My two cents. The company branded itself in a way that made it superficially “cool.” But it was only surface level. Outwardly people carried on with this cult-like posture (especially DEI related) and the lack of competence and inability to call things what they were led to mindless lowest common denominator behavior. A lot of window dressing but if you scratch the surface there isn’t any substance there. At my current job, the average employee could run circles around someone from current-day Google in terms of competence focus and common sense.
What segment did u work in? I heard they were getting rid of the lowest common denominator workers through employee rank
@@ran160 It was in payments engineering. from people i still know there if anything the "lowest common denominator" groupthink is getting worse. because everyone is afraid for their jobs, it is even less so now that someone will raise their hand to say that the emperor has no clothes. so they just kind of progress towards lowest common denominator "safe" behavior to keep the paychecks coming until something happens to force them to adjust (for example how Bard was overly DEI until the joke that it was became apparent to the public).
word salad
But can they reverse a linked list with a log n space and time complexity? 🤣
A lot of those tech workers eventually not only got fired but got burnt out before that.
Tech jobs have just become commonplace jobs. Nothing special about them anymore. That's why there's been a culture shift. You can throw a rock and hit a dozen qualified software devs.
Where exactly? I can still run through a dozen interviews and only encounter a couple worth proceeding with.
@@BTrain-is8ch That's interesting, because employers say they can't find qualified people, but job-seekers say they can't find opportunities. There's definitely something going on. Maybe the market really is flooded with crap software engineers. I suppose it makes sense, what with all the diploma mills out there. My perception is probably skewed since I've always personally worked with talented peers.
@@BTrain-is8ch There are not many good ones out, that's true. Are you still searching?
Tech bust will be as painful as the Dot com bust. Only recession proof industries like healthcare will be stable.
Funeral directors is probably recession proof
Did employees really believe this corporate propaganda without recognizing they’re expendable at the end of the day?
Also, remote work is more desirable. These large companies don't let you do remote work.
Remote job should be available especially for people that have health issues :/
@@Lovecove4we all have mental health issues..
The reason return-to-office is so important is that it increases meeting engagement so managers can make sure that employees are paying attention. It also facilitates having more meetings (aka collaboration) /sarc.
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Mrs Maria Davis.
She's a licensed broker here in the states
I remember when I was in high school the teachers would say if you got into one of these companies you would have job security. Now it looks like that’s non existent and they can replace you with the same ease minimum wage workers can be replaced.
I don’t think anyone in tech actually thinks these companies are layoff proof. What kind of news is this?
😢Im miffed that such great analysis is needed
Not layoff proof but massively profitable but still jettisoning thousands of workers. I mean Zuck and Page don't need to get even richer. Besides what does it mean for management competence if they overhired and then fire a bunch of people. Is the C-suite even acknowledging their f-up?
Agreed. They have always been boom and bust. And as the company changes direction, like now to AI, there are people that do not make the move with everyone else.
In my first corporate job I was told that they would never layoff anyone, at new employee training by one of the HR ladies (HPC)
Especially at the rate of hiring of the past few years. Of course they are going to end up with average people/ projects that are better off being cut.
show no loyalty to companies that will throw you under the bus when the company needs to downsize.
The tech industry is the main industry where they can hire anyone anywhere in the world and just have them work remotely for whatever's a fair wage there.
The thing that killed Tech Industry credibility was all the employees on CZcams showing videos where they come into work, get free food, go to a themed meeting room (Harry Potter Room, Glitter Room) and then go back to the free cafeteria foe even more food. It made the public ask "what is going on?"
Those were the nontechnical people. That same stuff is happening in HR/marketing departments everywhere.
@@Jacovosure but you need to keep your mouth shut about it.
I don’t understand why CBNC is acting surprised at this happened. It literally happened in 1998.
Who is acting surprised?
With such clairvoyance im assuming you traded stocks accordingly and are now a millionaire? Surely you'd have done that because this was so obvious that it was gonna happen again since it happened in 1998. You saw it coming because you're a market genius.
And we all got burnt in the Crash of 2000. 😅 They took the money and ran. Then came back and used our money to put into motion What we have today. If you had a job with one of those companies in 2003. And were able to make it to 2024. You know that you made it. Live life well off the rest of the country regular people that believed in the company.while most lost all. You caused taxes and insurance and Interest to run while. So enjoy your retirement. On the backside of the country. Remember we know all the Money the government gave you through COVID-19 and you never paid it back
You mean 2001?
More like 2010
The thing is that 'regular' companies that lay off tens of thousands of workers are generally experiencing losses or are going through hard times - think General Electric. But these tech companies were and are hugely profitable. Their pandemic bubble valuation naturally came down in 2022 which they used as an excuse to jettison their people.
It’s sad how these companies used a worldwide pandemic to their financial advantage 🤦🏻♂️
Imagine that, working for an industry that based their work environment model on a day care center wasn't sustainable.
😂
I think it's more of a resort than daycare. Maybe daycare in your area has massage parlor lol.
With profits at all time high for most big corporations, work week should be reduced to ~32 , ~34 hours a week
This seems like the worst period.
Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Devion Jane
I agree just reached my goal of $500k yearly trade earnings. Setting realistic goals is an essential part of trading..
Please educate me, i'm willing to make consultations to improve my situation,
Her technical analysis is excellent and her interpretation/projections of the market are so accurate I sometimes ask myself if she is a human The point she is the perfect trader to follow for advice and guidance
Wait is this the same lady? That helps me with 17k investment “wow" such a small world..
employees first ❌ profit first ✅
Corporate life I general had a terrible reputation, but the chaos hours exclusivity and drama of tech has made it an after thought for job search. Look at what they did to the Bay Area and Austin!
We've seen this movie before: 1992 IBM. When a company stops making "The Best To Work For" lists, the share price is about to get boosted by serious multiples. They have basically reached the late Third Phase of corporate development. Their profits won't come from innovation , new products, services or markets. They will come from plundering the workforce. And all of these companies have a LOT to plunder. (IBM stock spent the rest of the 1990s rising & splitting, rising & splitting, as the workforce got shrunk, outsourced and replaced.)
what's the end phase?
I believe in economic activity that emphasizes real human social connections, where cost cutting is meaningless. I hope that the future will come.
Big Tech was booming as manufacturing jobs were going overseas. The people getting laid off at that time were told to learn new skills. Tech workers should consider themselves lucky 😑
tech is also outsourced overseas
@@Fr00steeyeah sadly I know a couple immigrants that make 115k In tech and there in America illegally 🧍🏻♂️
"learn to code" yeah that was pretty tone-deaf ngl
They should learn to plumb.
Tech has been going through outsourcing for decades - wym?
The Bear Market and Higher Interest Rates show who really matters. Employees aren't displayed on the balance sheet.
I POOP in an outhouse and grow food.. Shuush you No I dont have a cellphone
This is EXACTLY why I started my CZcams channel and it was the BEST thing I could have ever done.
What about 8
By YouSum Live
00:00:00 Tech industry's rise and fall in popularity.
00:00:38 Tech giants' extravagant perks and layoffs contrast.
00:01:39 Tech layoffs surge post-2020, reshaping industry dynamics.
00:02:40 Tech industry's allure shifts from stability to uncertainty.
00:03:30 Tech industry's financial success and employee prestige.
00:05:15 Tech industry's impact during COVID-19 and stock market.
00:06:27 Tech industry job market fluctuations post-pandemic.
00:08:33 Tech layoffs influence career choices and job stability.
00:10:51 Tech industry's evolving appeal and advice for job seekers.
By YouSum Live
Living in the UK tech hub i got so many friends that jobs working at Microsoft it never had "dream job" status to me. It was like the local construction company.
Any time you're on the clock ⏰ they can take away that check when they feel like it
If you're not working for yourself, you're clearly, obviously working for someone else.
They have certainly overhired during the pandemic. Unfortunately, there is now a huge oversupply of entry level tech workers looking for work, which is going to be very rough for new grads looking to break in.
I wanted to work for these firms and tried so hard in the literal 2000s and 2010's, 2008-2010 and 2011 could not break through. I worked for well known firms and they decided to hire other people. Some people were given the opportunity for wealth growth, starting salaries at VP levels at regular firms and even up to low level CEO, C-suite levels. I love the company I work for today, not an easy company to get into either, but I only imagine if I broke through to get in the 2010's that would have been awesome. I would have retired.
Just before reading your comment i thought same. Just imagine a guy entering these companies in 2010. They would have made lot of money.
I know people who work from home and just sleep and watch movies half the day. Lol.
Remember when Joe told people to learn coding?
🤣🤣🤣
As someone who was called in to deal with a situation to a large Tech Company, one of the main reason for the lay off was simply that: Your role is not relevant at all. Or the job they were hired to do dissolved or got automated ect... Where it was possible we sent people to train for new roles but majoroty of them either declined or had no competencies in any other role. It was and it is hars till this day but when you realise you have someone in HR titled "Food Editor" and gets 120k per year for 2 days worth of job per week you start asking questions >_>
Food editor????? What exactly is their job description?????
@@randomvideoshere6540 writes and edits food-related features, articles, and reviews for print publications or digital media outlets (or at least thats what i was told) in relatiy there were 4 people in one office space working maybe around 5 hours a day, aaaaaand thats about it xD they got the boot quickly cus all of them were soo expensive. Also the boss who hired them got kicked out too because of this move
Yes a lot of the cuts are all those random “managers” that add no intrinsic technical value to the organisation and are simply dead weight.
Even with layoffs, they get many months of severance and they were making such a huge salary that they will be ok.
Even consulting organizations like Bain and BCG are no longer what they used to be
Companies realised they didn't need to give employees all this stuff to get done what they wanted to.. if you didn';t like it you were just told to leave eventually.
Training a market on masse and everyone honing the same skills brings imbalance to a market place and your employer will take advantage of that at your disadvantage.
When you make/develop tools to replace jobs you are helping people lose their job and empowering those ones that didn't need this help in the first place.
When will people just wake up that making these tools do not actually benefit society but only a very tiny fraction of it and thus it should not be done.
All the help desk is in India 🤣😭while asking what brings you
This is why you never stay if your team starts to get so big. The first sign is if there's over 3 people doing the same tasks. The second sign is if said team just keeps setting up "meetings". Third and final sign is, nothing is delivered on planned Time. If you see all these three signs on your team, guaranteed it's time to go elsewhere.
I have been noticing something similar happening at my current job over the past year, but since then i have been looking for a new job, though the job market has shrunk drastically over the past two years and almost all the positions are for seniors and the “junior” positions are with some unrealistic expectations that sometimes match the description of senior positions.
I agree with working for smaller companies. I've worked in both. And the thing about working for Tech giants is that you tend to just become a number. Unless you're star-tier material, you will essentially just fill out a cogwheel in the bigger picture, you won't stand out, you'll have managers constantly pushing KPI's, and overtime culture is growing fast, you have to become the ones to replace the layoffs.
They hired the best minds to make AI and now AI is little by little taking over the very jobs the best minds they hired
AI is only as good as the data that is used to calibrate it
AI IS JUST GARBAGE DATA 😂😂😂😂😂😂 THAT'S NOT INTELLIGENCE AND IT IS HYPED TECHNOLOGY 😂😂😂
ai not taking job yet. This is all just trimming fat
No more American Dreams.
No more dream jobs.
No one wants to pay high taxes 😢
And soon enough, with AI/robotics, no jobs at all.
Great vid yo keep up the good work
I've read about these tech companies doing these mass layoffs and a few months later are advertising these same recently downsized positions as new job openings but at a substantially reduced salary.
More pay means more competition. You can always be replace by someone faster and younger.
More layoffs please so that my stock could rise higher
Only in the U.S can layoff be that easy. In Europe or Japan, company cannot just layoff a employee without negotiation. It is illegal.
Turning down better jobs out of loyalty is the worst decision I have ever made in my career."
This revision maintains the clarity of your original statement while improving the overall structure.
Correction- I have used generative AI a lot in my projects to help fill in gaps and learn new things. I can say with confidence that generative AI, as is, has not taken any jobs in the tech industry. When you try to use it for any serious application beyond trying to fill in holes in your knowledge or some very simple, boiler plate code you end up spending tons of time trying to fix its mistakes.
I feel the same too when I tried using generative AI like ChatGPT for my simple personal project. It might be good for solving known problems and finding answers to questions, but it struggles beyond that. Even when I feed it syntax / runtime errors I encountered it often stuggles to fix them.
I think the tech layoffs is mainly due to the high interest rates and post pandemic tech slowdown. Some of my former collegues also believe that remote / hybrid work convinced companies to believe they can outsource the jobs. I did remember training the India team on my modules that I owned before I got laid off while under the pretense that I would work on a new project. The only AI tool we ever used was one that would detect and show duplicate bug Jiras. The results were practically unreliable and often it's better to search for the duplicates by keyword.
not yet...it is in its infancy atm. Wait till generalized neural networks start learning at a exponential rate and inference ( connecting the dots, making educated guesses, eureka moments) start happening..it will be a watershed event in human history.
It won't take jobs for at least another 5 years or more. Most company layoff are in sectors that don't make money for the company. It's called "trimming fat".
For those of us the experienced the 1990 recession, the e-comm bubble, the 2008 melt down, have worked in multipe companies and heard enough HR / upper management BS, its meh. Dont worry youngsters, you'll get use to this.
I worked for 5.5 years for Google as a TVC. I was let good last May with no notice. I worked all though out the Covid crisis in the data centers when no Google workers would. So much for that.
Learn and move forward. Don't make the same mistake twice.
@@ethanquenum4778 well kinda back in the same boat working for a company now supporting Google metro sites in metro Atlanta.
Greed corrupts all. All those tech companies are now even worse than traditional corporations.
Working for government has great reliability but crap pay
You eat crap?
Tech is just going through a boom and bust cycle just like every industry before it. But at these FAANG companies lots of people are still bringing in $300k-$500k+ total comp. We're talking attorney, doctor pay here, without requiring a degree. The allure may have faded a bit but let's be honest money talks.
I worked for google and fb during 2015-2020. Man, those were the good times! I feel blessed to have witness it
This is easy I notice the trend of layoffs no union you are just a number u constantly have to adjust to changes policies objectives with no security lots of work
Higher they rise, the harder the fall
As a newbie that wants to invest, you must have these three things in mind
1. Have a long term mindset.
2. Be willing to take risk.
3. Be careful on money usage, if you're not spending to earn back, then stop spending.
4. Never claim to know - Ask questions and it's best you work with a financial advisor.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Mrs Maria Davis.
She's a licensed broker here in the states
YES!!! That's exactly her name (Maria Davis) so many people have recommended highly about her and am just starting with her 😊 from Brisbane Australia🇦🇺
Working for these companies is still a dream job for most people. It is tougher to get a job at Google than it is to get accepted into Harvard. You still get lots of perks, maybe not quite as many but the pay is minimum six figures to start and only goes up from there. Best 401k and health plan of any company period.
Laying off AWS staff is wild considering how brutal cloud computing billing is, most companies run on the cloud, and AWS is a huge part of that market share. That was more obviously for the share price than all the other layoffs...
That's why you practice setting up cloud systems offline, using a stack of old laptops. On-premises microservices is becoming an increasingly better deal.