@@robertf4209 it's a huge bubble. Most tech workers are extremely overpaid for what they do. They can afford to slash their salaries or lay off many more people
I live in silicon valley and 200k is great money but it's hard to save much due to the high cost of everything. In the 300k range you could definitely save up.
@@robertf4209 they don't, but majority of the ones getting laid off make $100,000+ at Meta it's $300,000 average salary for people getting laid off. This is happening nationwide high income workers are being laid off meanwhile low paid workers are in very high demand so have more job security at the moment.
I seriously doubt that is the median pay for those jobs, and if I weren't feeling lazy I would look it up to confirm. However, these people are also getting huge severance packages lasting them weeks to months.
interesting... lay off 12,000 people, even if per person cost per year is $200k (many are claiming they have $300k or $350k TC), well then, the expenses it saves is $2.4 billion per year
They are actually. In fact engineers are the second most affected position following recruiting. There are tons of unproductive and unprofitable tech projects that are getting axed and no longer need those engineers.
I have worked at Apple, and old Facebook (meta) and I can tell you that most of the paid-off people will get another job in days, not weeks or months. Also, they have enough money in their savings account which can support their "Google" lifestyle for at least 5 years.
It depends on how 2023 goes. In 2001-2002 or 2008-2010, it was really tough for anyone laid off. Other times, yeah, if you have real tech skills you had multiple job offers.
Not sure where you idiots get the idea that executives do nothing and just come in and collect a check. Why don't you start your own company and become and executive then since it's such an easy, cushy job?
I'm always sorry to hear about layoff news...have seen more than a few. In the kinds of programs I teach in, prospective students often ask: Does this prepare me for a specific job? No, because how safe are specific jobs these days? We teach soft skills, which I've done a vimeo VOD on as well. If you can develop and demonstrate emotional intelligence, creativity, collaboration, and others valued by hiring employers, they go with you from job to job.
A lot of industries layoff. Only reason this is big news because it’s hurts the bottom line and that is the city and states dollar. These are very rich cities that bring in millions of dollars in revenue. If they layoff I assume a lot will either move or get less paying jobs therefore having to change a lot in their lives and spend less.
Its no longer a growing market. Most of the planet already uses Google, Facebook or Apple. Now its about optimization and cutting costs. The market is monopolised and new start ups will no longer distrupt the industry. Nobody will use an alternative to youtube or google. Just like back in the days Ford hired for decades, until they cut costs and moved away.
So many talents released in 2023 means more resource poor start ups can grab and gobble or new competing startups by highly knowledgeable and informative ex employees are going to be formed..
For more worthless apps and companies that lose millions if not billions How is Uber more valuable than ibm? (And 100 other examples) IBM actually makes a profit
@@sonic1957 you also don't know that google's Ad business model relies upon people using its' search engine for their personal usage. ChatGPT is perfectly capable of doing it better.
A majority of these employees are remote workers living far far away from California. They paid over asking and waived all home inspections. Lucky for them most bought when interest rates were historically low. Expect a jump in inventory in your market though.
Given that we all need to live somewhere, I suspect if you mean a jump in inventory of homes for sale, there will be a corresponding drop in inventory of homes for rent.
I think the key takeaway there is that this is a great reset for GOOGLE and a few others, but not for all I was hired about a month ago; initially laid off at the end of '21
Not sure how there's going to be a lot less money for these former employees to spend considering the ridiculous severance packages they are getting. I heard in another video they are getting 16+ weeks of pay.
@@userhandler0tten351 How do I sound like a renter when I pointing out the fact they are still getting paid weeks after getting laid off? I own my own home and car by the way.
all my friends in tech has ALWAYS been employed.... never heard of them saying it's hard to find jobs and they are making good money. It's only a small amt of people they are laying off..... they made it sounds like the end of the world is here..... there are tons of tech companies other then Microsoft, Google, amazon, meta.....
All those in your list with recent large lay-offs will be competing for jobs in those other, likely smaller, companies; many of whom are now also feeling the impact of rising cost of money, businesses conserving budgets, and slowing demand. I have been on the other side, where I had to decide whose career was cut short and then deliver the news and escort off the work site with security. This was during the 2008/9 recession onset and all were tech workers. It was horrible for those people. They all regained employment but it was change in the arc of their lives, personal and professional. This is the business cycle, it happens, and in the workplace some people always carry more load than others. But when layoffs are done at this scale it’s often entire business units which includes highly devoted hard workers. In my case we had about 30% fairly long-term contractors. Both the contractors and I, as the manager, were working to scale up to eventual full employment. Contractors knew in a down-turn they were at risk of lay-off. What happened was the company leadership made the decision that we were to reduce FTEs, actual company employees. That is what reduced long-term expense liability. So devoted employees were let go and the contractors stayed employed. For some of these people it will not be a big deal. For a great many it’s a very big deal.
In the future, these layoffs will affect all employees including engineers. For some people, it might be the end of the world; it is how they (Tech companies) did it.
After living for years in their caves telling and listening, to stories magically delivered to and from them, the humans of Earth began to crawl out of their caves to do what? The answer to that question is where the recent laid-off should look for their next employment.
Is this true? >>> Insiders say that more than 80% of the Google workforce are quiet quitters anyway, so layoff is way to go for Google, and those being laid off should not be surprised at all. True?! Some insiders say that only 10% of the Google workforce were doing the work of 90% of the quiet quitters. True?!
None of that is true I myself spent over 70 hours in the lab just this week testing telecommunications equipment after spending 70 hours in the lab last week building said equipment
Tech employees have been responsible for aggressive gentrification, out-pricing people out of their homes, neighborhoods and cities. With their self reliant ecosystems of cafes, childcare, etc. their contribution to local economies is very little. I for one am glad for this reset. If these were teachers I’d feel bad. But for overpaid self indulgent people who chose the vocation ONLY because of its monetary appeal, I have no sympathy.
Finally a real bay area native perspective.. they're overpriced salaries is the reason why my family can't live in San Jose anymore and I'm lucky because my parents bought their house in 2001.. I have no sympathy for them either
Tech jobs are most likely to go down because they all the tech companies are moving towards artificial intelligence more like robotics stuff where they won’t need employees. Sad but this is what the future is
lol, your comment goes to show how ignorant some non-tech people are about AI. Most of the jobs that AI will replace are non-technical, and some tech jobs(where you don't need any human intelligence). You still need tech to develop and maintain AI systems, and some software jobs just cannot be done without humans.
@@TensorWave robots engineers are going to make AI systems not tech people. I didn’t say that tech people will not have anything but the number will be declined.
@@beforeandafterguys2112 I don’t even know where to start my man, not every tech job is the same. I work computer security, so you think I worry for a second about employment in this current age? If that has to be spelled out for you then maybe your opinion isn’t worth sharing
@@userhandler0tten351 i can understand how you feel bud and sorry to make you feel that way since your in the field but basically the tech company’s are working on ways to eliminate most worker’s with “system robotics ” ect and overseas workers that work at a fraction of the cost compared to workers here in the U.S. We had a guy way up in his position at Microsoft just got laid off and another at Google laid off both had been in the field for 10+ years
@@beforeandafterguys2112 it doesn’t even look like you read what I said I myself am working to automate many of my roles so that additional employees won’t be hired. Even if I write code that replaces my role entirely, I will still have opportunities tomorrow, and systems to secure as there will never be an end to hacking. This is the takeaway, that no matter how complex your work, the jobs are born out of necessity. In other words, duh duh
Imagine calling yourself an American who argues for employees to make less while management and the corporation retain more profit from your work / contributions
Muahahhahahahaha. They fired the low productivity workers. Let that sink in while making tik tok videos on googles competitors platform. And they wonder why they got fired
No! Apple is not an adverticing company. Their iphones and computers continue to sell strong. Their stock will sky rocket on those news this year. Potentially can reach $300.
The public really feels sorry for all these cuts at goggle and the rest of the Internet industries.have a laugh you're had to good for to long, welcome to the real world.
I can’t believe the whining by the laid off tech folks. I was laid off twice in 33 years The last time it was age and making too much money. Wait till you youngsters face age layoffs. And yes we are all expendable and just dollars to a bottom line. I say it’s the two beer theory! The ones that survive takes them two beers to forget your a- is gone. Call your mother she cares. Lol
Most tech employees that I know in California make between $200 to $300k per year so if they save up during good time, they be ok.
You know people in the exception category. Most people in tech in California are not making $300k per year.
@@robertf4209 it's a huge bubble. Most tech workers are extremely overpaid for what they do. They can afford to slash their salaries or lay off many more people
I live in silicon valley and 200k is great money but it's hard to save much due to the high cost of everything. In the 300k range you could definitely save up.
@@robertf4209 they don't, but majority of the ones getting laid off make $100,000+ at Meta it's $300,000 average salary for people getting laid off. This is happening nationwide high income workers are being laid off meanwhile low paid workers are in very high demand so have more job security at the moment.
I seriously doubt that is the median pay for those jobs, and if I weren't feeling lazy I would look it up to confirm. However, these people are also getting huge severance packages lasting them weeks to months.
Elon Musk lays people off and there was outrage. All these other tech companies layoff and it's silence.
Great point! Laying off Twitter employees is something I am definitely NOT outraged over.
When a company asks for ideas on how to become more efficient, they are asking how can they get rid of you.
Bingo🎯 they don’t care if you’re happy they just want to know what you’re doing now and in the future as an employee
interesting... lay off 12,000 people, even if per person cost per year is $200k (many are claiming they have $300k or $350k TC), well then, the expenses it saves is $2.4 billion per year
I doublt they are laying off engineers, these are sales, recruiting etc.. they will be hurt and can't find a job right away
They are actually. In fact engineers are the second most affected position following recruiting. There are tons of unproductive and unprofitable tech projects that are getting axed and no longer need those engineers.
I have worked at Apple, and old Facebook (meta) and I can tell you that most of the paid-off people will get another job in days, not weeks or months. Also, they have enough money in their savings account which can support their "Google" lifestyle for at least 5 years.
It depends on how 2023 goes. In 2001-2002 or 2008-2010, it was really tough for anyone laid off. Other times, yeah, if you have real tech skills you had multiple job offers.
Until hyperinflation sets in and the store shelves are mostly empty. Then all them coding skills will really pay off.
@@commonsense504 not at an $8 trillion Fed balance sheet, need much more probably, but I agree with your idea
The one lesson I learned from all these layoffs is I will never relocate for a job in my lifetime - remote only or hybrid in my city
Start with the execs first then you won't have to layoff as many as the junior staff that actually do the work
The issue is the people hired during pandemic weren't execs(mostly). They expanded the rank and file head count. So cutting is rebalancing that.
3 out of 9 managers in my line werr hired during pandemic
That will never happen 😂
Get over it. They fired low productivity employees. Next work harder.
Not sure where you idiots get the idea that executives do nothing and just come in and collect a check. Why don't you start your own company and become and executive then since it's such an easy, cushy job?
Overpaid, spoiled, and underworked.
I'm always sorry to hear about layoff news...have seen more than a few. In the kinds of programs I teach in, prospective students often ask: Does this prepare me for a specific job? No, because how safe are specific jobs these days? We teach soft skills, which I've done a vimeo VOD on as well. If you can develop and demonstrate emotional intelligence, creativity, collaboration, and others valued by hiring employers, they go with you from job to job.
"Building Back Better" 🤗
They told oil field workers to "learn how to code"....guess these folks now need to "learn how to weld".
It’s not as if layoffs are a new occurrence and the sky is falling. I was laid off once some years ago, not the end of the world.
A lot of industries layoff. Only reason this is big news because it’s hurts the bottom line and that is the city and states dollar. These are very rich cities that bring in millions of dollars in revenue. If they layoff I assume a lot will either move or get less paying jobs therefore having to change a lot in their lives and spend less.
why is the Professor afraid to call his friends at Google? Is he afraid because they may ask him for money? lol
He is afraid of receiving bad news
His friends may have much more money and can retire already.
Because he’s the Nutty Professor. 😂
why you should have savings !!!
tech workers are highly trained and educated they will bounce back
Not if your over 40
Its no longer a growing market. Most of the planet already uses Google, Facebook or Apple. Now its about optimization and cutting costs. The market is monopolised and new start ups will no longer distrupt the industry. Nobody will use an alternative to youtube or google. Just like back in the days Ford hired for decades, until they cut costs and moved away.
There's a word for 1, spelled "one"
So many talents released in 2023 means more resource poor start ups can grab and gobble or new competing startups by highly knowledgeable and informative ex employees are going to be formed..
For more worthless apps and companies that lose millions if not billions
How is Uber more valuable than ibm? (And 100 other examples)
IBM actually makes a profit
Google will be laying off quite a few more as AI breakthroughs such as ChatGPT challenge their business model.
@@sonic1957 you also don't know that google's Ad business model relies upon people using its' search engine for their personal usage. ChatGPT is perfectly capable of doing it better.
@@sonic1957 you're not the brightest one
Does that mean the Bay Area will be lease expensive now
It's all about profit but that's obvious. A younger, cheaper, outsourced replacement will silently happen.
Overpaid unproductive employees goodbye
Its happened 1000s times before
Bloated companies cut the non producing
@@g.t.richardson6311 such employees should be forewarned that they are just causing bloat and would be terminated sooner.
@@manuelmoraleda9684 it doesn’t always work that way
Warn people that they are loafers?
Come on man
@@g.t.richardson6311 that way you can be prepared to move on and evacuate when that "tsunami " happens.
A majority of these employees are remote workers living far far away from California. They paid over asking and waived all home inspections. Lucky for them most bought when interest rates were historically low. Expect a jump in inventory in your market though.
Given that we all need to live somewhere, I suspect if you mean a jump in inventory of homes for sale, there will be a corresponding drop in inventory of homes for rent.
Sounds good I’ll be on lookout
Why does the quality of this video make it look like it's from 2005
I think the key takeaway there is that this is a great reset for GOOGLE and a few others, but not for all
I was hired about a month ago; initially laid off at the end of '21
The great reset is more like the great bull💩
How to install google
What will SF do with all those overpriced houses and apartments now?
Labor made them rich. They feel a slight recession and there goes labor.
Not sure how there's going to be a lot less money for these former employees to spend considering the ridiculous severance packages they are getting. I heard in another video they are getting 16+ weeks of pay.
Spoken like a renter who has no mortgage or car payment
@@userhandler0tten351 How do I sound like a renter when I pointing out the fact they are still getting paid weeks after getting laid off?
I own my own home and car by the way.
all my friends in tech has ALWAYS been employed.... never heard of them saying it's hard to find jobs and they are making good money. It's only a small amt of people they are laying off..... they made it sounds like the end of the world is here..... there are tons of tech companies other then Microsoft, Google, amazon, meta.....
All those in your list with recent large lay-offs will be competing for jobs in those other, likely smaller, companies; many of whom are now also feeling the impact of rising cost of money, businesses conserving budgets, and slowing demand. I have been on the other side, where I had to decide whose career was cut short and then deliver the news and escort off the work site with security. This was during the 2008/9 recession onset and all were tech workers. It was horrible for those people. They all regained employment but it was change in the arc of their lives, personal and professional. This is the business cycle, it happens, and in the workplace some people always carry more load than others. But when layoffs are done at this scale it’s often entire business units which includes highly devoted hard workers. In my case we had about 30% fairly long-term contractors. Both the contractors and I, as the manager, were working to scale up to eventual full employment. Contractors knew in a down-turn they were at risk of lay-off. What happened was the company leadership made the decision that we were to reduce FTEs, actual company employees. That is what reduced long-term expense liability. So devoted employees were let go and the contractors stayed employed. For some of these people it will not be a big deal. For a great many it’s a very big deal.
In the future, these layoffs will affect all employees including engineers. For some people, it might be the end of the world; it is how they (Tech companies) did it.
‘Normalcy’ 😂
They cut everywhere.
Isn't AI tomorrow's real elephant in the room?
NOT an expert 😆
After living for years in their caves telling and listening, to stories magically delivered to and from them, the humans of Earth began to crawl out of their caves to do what?
The answer to that question is where the recent laid-off should look for their next employment.
Tech has to create politicians same way oil, banks, media and other businesses do, otherwise "transitory" nonsense can happen
Parent companies are the new force💯% soon nobody will actually work for google except the owner of the parent companies is what you’re saying right?
get rid of all the H1Bs first.
Trump 24?
lol that will instantly collapse the tech industry. H1Bs get hired only if companies can't find any american talent with skills required for the job.
Is this true? >>> Insiders say that more than 80% of the Google workforce are quiet quitters anyway, so layoff is way to go for Google, and those being laid off should not be surprised at all. True?! Some insiders say that only 10% of the Google workforce were doing the work of 90% of the quiet quitters. True?!
It seems that quiet quitting (QQ) is exploding across the U.S., not just Google, so now is the perfect time to drain the swamp.
None of that is true
I myself spent over 70 hours in the lab just this week testing telecommunications equipment after spending 70 hours in the lab last week building said equipment
Most of the time they spend in the breakroom sleeping on a couch or playing ping pong.
SO TRUE!
@@mrtee3477 EXACTLY.
1:58 Meta HQ
Those poor evil wretches.
Tech employees have been responsible for aggressive gentrification, out-pricing people out of their homes, neighborhoods and cities. With their self reliant ecosystems of cafes, childcare, etc. their contribution to local economies is very little. I for one am glad for this reset. If these were teachers I’d feel bad. But for overpaid self indulgent people who chose the vocation ONLY because of its monetary appeal, I have no sympathy.
Finally a real bay area native perspective.. they're overpriced salaries is the reason why my family can't live in San Jose anymore and I'm lucky because my parents bought their house in 2001.. I have no sympathy for them either
But that's how it works. They don't raise the prices, owners do. It's the demand-supply that dictates the prices. You should blame greedy owners.
Tech jobs are most likely to go down because they all the tech companies are moving towards artificial intelligence more like robotics stuff where they won’t need employees. Sad but this is what the future is
lol, your comment goes to show how ignorant some non-tech people are about AI. Most of the jobs that AI will replace are non-technical, and some tech jobs(where you don't need any human intelligence). You still need tech to develop and maintain AI systems, and some software jobs just cannot be done without humans.
@@TensorWave robots engineers are going to make AI systems not tech people. I didn’t say that tech people will not have anything but the number will be declined.
NO !
They get fired and they will do there own business and become competitors for Google. Hahaha
Yea competitive making Tim toks not working loafing around their house
They good at that, maybe when it’s there own money they’ll work harderv
Tech jobs is the new low life job unfortunately
Keep telling yourself that bud
@@userhandler0tten351 getting let go with millions of others looking for jobs. Everyone has a tech job these days and theres no job security
@@beforeandafterguys2112 I don’t even know where to start my man, not every tech job is the same.
I work computer security, so you think I worry for a second about employment in this current age?
If that has to be spelled out for you then maybe your opinion isn’t worth sharing
@@userhandler0tten351 i can understand how you feel bud and sorry to make you feel that way since your in the field but basically the tech company’s are working on ways to eliminate most worker’s with “system robotics ” ect and overseas workers that work at a fraction of the cost compared to workers here in the U.S. We had a guy way up in his position at Microsoft just got laid off and another at Google laid off both had been in the field for 10+ years
@@beforeandafterguys2112 it doesn’t even look like you read what I said
I myself am working to automate many of my roles so that additional employees won’t be hired.
Even if I write code that replaces my role entirely, I will still have opportunities tomorrow, and systems to secure as there will never be an end to hacking. This is the takeaway, that no matter how complex your work, the jobs are born out of necessity.
In other words, duh duh
Finally
Imagine calling yourself an American who argues for employees to make less while management and the corporation retain more profit from your work / contributions
Economic illiterate
@@g.t.richardson6311 that’s a big word for an incomplete sentence
@@userhandler0tten351
Everyone’s “work” is not worth the same amount
Fact
@@userhandler0tten351 these people laid off were being fairly compensated for the work they did
LMFAO Get woke, go broke 😂
So many cry babies here. You got fires ask yourself why you? Then move on life goes on. Ps learn to weld or learn a trade.
Are we still pretending these layoffs have nothing to do with tech companies going woke?
@Gifted Green 🤔
Ok Gifted, I'll bite. Can you please walk me through this? Swear I'm not pretending, and I understand the issues with wokeness. But you lost me here.
By woke I assume you mean full blown technocratic communists?
Muahahhahahahaha. They fired the low productivity workers. Let that sink in while making tik tok videos on googles competitors platform. And they wonder why they got fired
Stop being crying baby hi tech ppl...u guys have 6 figures for years
is 6 figure a big deal?
Google
What about APPLE? Aren't they laying off?
No! Apple is not an adverticing company. Their iphones and computers continue to sell strong. Their stock will sky rocket on those news this year. Potentially can reach $300.
Apple didn't hire in surplus during covid
@@TSAVVVV- don’t count on it.
@@jjgalletta66 apple didnt do the hiring spree
The public really feels sorry for all these cuts at goggle and the rest of the Internet industries.have a laugh you're had to good for to long, welcome to the real world.
Your writing skill is worst than the Chinese or Russian. I wish you would've gone to school and not embarrassed yourself like this.
Very true.
What do you think we say when y’all complain that there’s no more money left in coal
I'm glad they got fired. They were under performing, look into some of their videos. Strait children at desks.
Soo happy to hear this ! 🙌
It is called greed.
Facebook của chúng ta sẽ ntn? Xin cho tips
I can’t believe the whining by the laid off tech folks. I was laid off twice in 33 years The last time it was age and making too much money. Wait till you youngsters face age layoffs. And yes we are all expendable and just dollars to a bottom line. I say it’s the two beer theory! The ones that survive takes them two beers to forget your a- is gone. Call your mother she cares. Lol
This is great news . Theese children got a taste of real life
Lol
Dbs u needed to be taught what real life is all about . And here it is
Im going to celebrate this tonight lol
Haha
😄 🤣 😂 😆 😄 🤣 😂 😆 😄
Lmfao I'll bet this is Donald Trump's fault
Roflmfao
Good job google 👏👍👌😀🙌😄👏