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Layoffs.fyi
- hbcondo714 4y ago> Data is compiled from public reports Would the OP or someone else familiar with the site be able to provide more insight on the data? The site also allows users to submit layoffs so the data is crowdsourced too: https://layoffs.fyi/share-layoff-intel/ https://layoffs.fyi/share-layoff-intel/
- Maxious 4y agoWorker Adjustment and Retraining Notification (WARN) Act says layoffs of >100 FTE within a 30 day window have to be reported 60 days in advance. California state law is even stricter at >50 FTE.
- throwaway_1928 4y agoThis is only going to get worse with deteriorating market conditions.
- andrelaszlo 4y agoAnd better with improving market conditions! I guess that's not your point though?
- throwaway_1928 4y agoYeah my point is we are going into a recession and it is going to get ugly.
- o_m 4y agoWhat is ugly? I'm a millennial and this seems to happen every 10 years. Should this be any different?
- throwaway_1928 4y agoWe only need to go back a couple of years to mid 2020 when every company was laying people off. Layoffs.fyi was tracking multiple new rounds every day. I fear what is coming is going to be that or worse.
- anthomtb 4y agoWhat are you doing to prepare?
- throwaway_1928 4y agoI wish I had a good answer for you.
- mupuff1234 4y agoHave enough cash to keep you afloat for at least 6+ months of unemployment. If that's not currently the situation try to cut back expenses where you can to reach that state (to a reason), and imo even on the expense of 401k contributions (but please remember to start again once you have enough cash).
- RhodesianHunter 4y agoYou can borrow from your own 401k. No reason to limit contributions.
- mupuff1234 4y agoGood point!
- ejb999 4y ago>>What are you doing to prepare? My advice: - hoard cash, i.e. don't spend it on things you don't need right now, you might need it a lot more in 6-12 months just to pay the mortgage -do anything and everything you can to have a nest egg that will give you 18-24 months of living expenses; 6 months won't be enough for a lot of people. Not easy for everyone I know, but if the SRHTF, it might take you that long to find a new job - and that new job might not pay as well as your old one. -get out of debt if you can. Again, not easy, but owning a house and car free-and-clear is an awesome feeling when the economy goes into a bad recession and you don't risk losing your house as long as you can pay taxes and insurance. -get a side-gig or two on top of your job if you can, having a few irons in the fire is never a bad idea if you can handle the extra work. -not a good time to switch jobs to a risky small tech company (or even a big tech company) if they never, or rarely make money - sooner or later VC's will stop writing checks to companies that don't have a prospect of becoming profitable - in a severe downturn, VC's will cut their losses and move on; these types of companies will be hit the hardest. -if you are working at mega-corp, try to get on - or stay on a team that supports or develops projects that are really important to the core company functions and/or makes them money. Not a good time to be part of a 'special group' exploring some new technology pr product that might not ever pan out - when big corps tighten belts, look for those types of projects to get shut down.
- tasuki 4y agoGood for you that you are so sure. Now you can short some stocks and make easy money. Boy is this not financial advice...
- tyrfing 4y agoAmazon is down 30%, and the sorts of tech companies that will be populating this list are already down anywhere from 50% to 90%. However, the biggest pain to come is private market startups. An easy call to make, simply because you can't directly profit from it, which lets the inefficiency persist. For now.
- slantaclaus 4y agoGood thing people invest in companies when their earnings growth exceeds their market capitalization growth
- throwaway_1928 4y agoI sure hope I am wrong.
- schleck8 4y agoDeutsche Bank already made it very clear that according to their analysts there will be a significant recession in the US this or next year
- dan-robertson 4y agoDo they have a track record of successful predictions?
- RhodesianHunter 4y agoThey predicted 13 out of the last 2!
- sys_64738 4y agoI play darts too.
- durnygbur 4y agoAs a person actively applying in EU... the market reeks candidate desperation. Salaries remained constant or even decreased in numbers despite over 10% inflation. Zero flexibility on the employer side "need 5 years of SRE experience for SRE position, need 5 years of DevOps experience for DevOps position, etc". WTF is going on. With the perspective of mangling my brain on the "next cool" Angular stack I'll remain working on personal projects, thanks.
- sofixa 4y agoEU is pretty big and varied, the markets in Spain, Slovenia and Estonia are probably quite different, let alone per city. I can assure you none of what you said applies to France (at least Paris but many of the jobs i see/saw/interviewed for were fully remote, so I don't see why they wouldn't accept people from other areas of France).
- fer 4y agoFrance resident here, anecdotal evidence, but Paris (and IDF) companies tend to only accept +100% match (close to 100% requirements + big chunk of the "nice to haves") for remote positions. If you miss anything from their stack they just pick someone else since the pool is much bigger. If you live in IDF they seem to care less about you being a perfect fit.
- jeffrallen 4y agoI just got a job in the EU by watching on my desired commute path for new company signs I hadn't noticed before, then researching them. I found a startup in an industry that interested me, made an effort to network my way into the eyes of the CEO, and then made myself available when he had work available. The whole process took 9 months. The front door of companies is always locked due to the unintended consequences of trying to scale up HR and recruiting. Hang out by the side door, and an insider will let you in. (Remember that "bad recruiting" is a problem insiders are trying to solve, just as you are.)
- 0xfaded 4y ago
- SLWW 4y agoI find it quite alarming that over 15,000 people have been laid off in transport since 2020. That's a lot of people impacted.
- ofcrpls 4y agoRelated, the old school non-startup version of this is at https://www.thelayoff.com https://www.thelayoff.com
- rvba 4y agoWow it has an active comment section - very interesting link!
- isbvhodnvemrwvn 4y agoKeep in mind that these communities are affected by what I call a "reddit effect" - they tend to be negative, so only people who dislike the company go there, creating a toxic negativity feedback loop. Same as many major subreddits which thrive on negativity and outrage. Take whatever you read there with a grain of salt.
- tmaly 4y agoI am wondering how much of the Blind app is this and how much is truth.
- jonahbenton 4y agoThe real old school startup version was https://en.m.wikipedia.org/wiki/Fucked_Company https://en.m.wikipedia.org/wiki/Fucked_Company Ahead of his time, my man Pud was.
- toomuchtodo 4y agoAnd they’re an active HN contributor. https://news.ycombinator.com/user?id=pud https://news.ycombinator.com/user?id=pud
- MichaelMoser123 4y agoDoes the rise in the layoff chart mean that it is now harder to raise money? If yes, then to what extent?
- throwaway_1928 4y agoSome VCs are telling their companies to not expect to raise another round in 2022.
- tr1ll10nb1ll 4y agoWow, is it that bad? Cause all you hear is mostly large rounds floating around everywhere. Especially for web3 these days.
- throwaway_1928 4y agoHere is one source: https://www.youtube.com/watch?v=MWf98aCvkOQ https://www.youtube.com/watch?v=MWf98aCvkOQ
- MichaelMoser123 4y agohttps://www.youtube.com/watch?v=MWf98aCvkOQ&t=215s https://www.youtube.com/watch?v=MWf98aCvkOQ&t=215s here he says so.
- blagie 4y agoThis seems like an odd response. With high inflation, there aren't many great places to keep money. Where are people moving their money to?
- carlivar 4y agoEnergy and commodities
- weatherlite 4y agoeven bonds soon
- 2sk21 4y agoLooks like someone has resurrected F*cked Company :-) Brings back interesting memories of the period from 2000 to 2002.
- jaybna 4y agoAll hail Pud
- tr1ll10nb1ll 4y agoMore interested in how it works than what it does later with that mechanism. Also, this is great but it'd be helpful to add "employees hired" (not necessarily by the same companies that are laying off) since March 2020 too to calculate the net impact instead of having a linear metric that just grows.
- kqr 4y agoAlso because there's a meaningful difference between 100 net layoffs when it means "1 hired and 101 laid off" or "9900 hired and 10000 laid off."
- tr1ll10nb1ll 4y agoWhy does there have to be one or the other? There should be both the metrics.
- kqr 4y agoThat's what I'm saying. In the terminology of systems theory, the value of a stock over time tells you rather little about what's going on in the system compared to knowing both inflow and outflow.
- tr1ll10nb1ll 4y agoTrue. There should be a simpler mechanism. In case of stocks, there exists the balance sheet but there should be something simpler yet more informative. For instance, the regular watchlist we have (on Yahoo Finance) with a couple more datapoints from the balance sheet.
- kqr 4y agoNote that I used the word "stock" in its system-theoretic meaning, i.e. an accumulating quantity whose level depends on inflow and outflow. Not in the financial equity sense.
- golergka 4y agoThe chart gives an impression that most of these happened in Q1-2 of 2020 and everything has more or less settled since then. Or am I missing something?
- Silhouette 4y agoThat's what I see. Many employers were very cautious, often with good reason, in the early days of the pandemic. Right now the market doesn't look bad at least here in the UK and going by the level of recruiter spam I get. Some of the more recent names I recognise on the layoffs.fyi list are Zillow, Peloton and Robinhood. These have all had unique, headline-making difficulties so perhaps they don't reflect the market as a whole. It's hard to believe the good times will continue to roll even in the tech sector though. The boost that some parts of the industry received from profound lifestyle changes on a societal scale caused by COVID is history and the boom in tech stocks is long past with widespread and sometimes very large corrections since. Now the entire global economy is surely going to take a big hit. Some sort of normal life returns but the costs of the economic damage from the virus itself and the huge support schemes many governments put in place come due. The actions of certain belligerent leaders aren't helping. All of this will surely dampen investment so say goodbye to the kind of crazy startup that gets way more funding than it really needs and goes on a huge hiring campaign because it doesn't know what else to do with the money. I'm afraid some relatively young people in the software industry who think it's normal to job-hop every few months for a double-digit salary raise and to double-or-more their base through stock and bonuses may be about to learn a brutal lesson just as some of us older devs did in the GFC or dot-bomb eras before.
- yreg 4y agoThe Airtable table has a UX quirk that I find rage inducing. When I click on a column header to sort the data, a "sorted by 1 field" dropdown opens and covers the top rows of the newly sorted data. Then if I click the x in the corner of said dropdown, it removes the filter (and doesn't close the dropdown). Clicking outside of the table doesn't close it either, since the table is embedded.
- jokethrowaway 4y agoAssuming these are engineers, product or designers, I wonder why they don't just replace them with cheaper remote workers overseas.