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today at 12:53 AM
Senior eng at a big tech here. Layoffs have nothing to do with AI. There’s more work to do then any time in recent memory because of the shift going on with AI enablement. Layoffs are because of a few things.
1. Coordinated layoffs flood the market with talent forcing wages down overall and creating a chilling effect for existing employees. Believe it or not, layoffs are actually having the reverse effect from what some might think. They don’t make people want to leave, they make people scared to leave.
2. Wall Street loves layoffs.
3. Money is more expensive now.
4. Layoffs have a performative aspect for the incoming administration that all tech execs are so desperately trying to publicly please.
5. The narrative that “tech employees are lazy mooches” that’s been pushed by tech execs in alternative media has become mainstream. Places like the AllIn podcast and anything that Musk posts on Twitter have been pushing this narrative for a while and people have bought it. Since people think this now, it gives tech execs much more leeway in cutting employees “because they were underperforming” rather than “because we don’t have enough money” or “because Wallstreet wants us to.”
Ask any manager at big tech companies. They’ve been WANTING to hire for like 2 years now, but hiring freezes because of budget constraints have left them without the wanted headcount. Pretty strange that managers almost universally have been wanting to hire, but been told “no we don’t have the budget,” but then layoffs come through and it’s “because ai is handling all the work!”