47 Comments

1. 

   @Divergence

   December 16, 2023 at 4:56 pm

   Same for the games industry. Sadly affected myself, they over hired due to the boom of people using entertainment to escape covid. Sadly the works pay the price.

   Reply
2. 

   @hugodias2449

   December 16, 2023 at 4:56 pm

   Welcome to the new world of AI

   Reply
3. 

   @user-eo1vk

   December 16, 2023 at 4:56 pm

   True!

   Reply
4. 

   @HolicChan

   December 16, 2023 at 4:56 pm

   Tbh they never ever needed that many people that’s just insane

   Reply
5. 

   @RawCyberHub

   December 16, 2023 at 4:56 pm

   gotta work 2 jobs and get away from this tech life.

   Reply
6. 

   @user-xb1rw3ny9v

   December 16, 2023 at 4:56 pm

   It was a perfect storm that caused the horrific firing of America's high-tech force. First it was some pipe-dream of Zuckerberg and his Meta-Verse fiasco and estimated losses of $40billion++ that caught the attention of wall street. Then the rise of the entitled high-tech young ones who proclaimed their collegiate and unique genius granted them 5-star catered instagram quality lifestyles and brag about all over Youtube how lazy and pampered a lifestyle work could offer. Anyone remember those? I do. Wall Street did…

   Then came the asset managers worried about inflationary numbers and the credit crunch that has to ensue with quantitative easing (0% interest = qe) being disassembled quickly and violently. That allowed banks to swoop and capture a lot of partial ownership of companies and assets at pennies on the dollar from larger banks and holding companies in regards to Silicon Valley Bank. Government bonds bought as a safe hedge, were now less valuable than when they were originally bought – not so good an investment, cash would have offered a safer haven we find out… due to those interest rate increases.

   Now comes the Asset Manager calls to CEOs of high-tech companies (singled-out, they didn't go to manufacturers or oil companies to tell them to fire 20% of their workforce – it was hightech). So that had to tell you there they were very mad at high-tech and its extravagant crazy zany world of theatrics. Sorry. I know this happened 7 months ago. Just had to air and vent. Seeing this and knowing it, doesn't help most of you out of work.

   Wish someone came up with great ways to solve the world's problems rather than come up with great ways to make more money for themselves. They know not what happens after they leave this life… and make it that much worse for everyone else.

   Reply
7. 

   @dmitrykim3096

   December 16, 2023 at 4:56 pm

   Software engineers are overpaid, so its natural that at some point it happenes

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8. 

   @Westcoasthustle626

   December 16, 2023 at 4:56 pm

   This puts a smile on my face

   Reply
9. 

   @brianreese7804

   December 16, 2023 at 4:56 pm

   THEY DON'T WANT OR NEED YOU WHEN AI WILL RUN EVEYTHING! YOU BETTER GO TO PLUMBING SCHOOL AND LEARN TO UNCLOG TOILETS!!!!

   Reply
10. 

    @darrenphilip247

    December 16, 2023 at 4:56 pm

    It wasn't till early this year that I became financially free and grew my net worth past the 2m mark. I did all this in two years and this was a result of my side hustle making more money through crypto trading with "trade with Ethan Grayson" after i got laid off.

    Reply
11. 

    @DOom-gw8sk

    December 16, 2023 at 4:56 pm

    They got laid off because they are worthless

    Reply
12. 

    @sanujitroy6830

    December 16, 2023 at 4:56 pm

    Next

    Reply
13. 

    @waltersimmons5029

    December 16, 2023 at 4:56 pm

    😅😅😅😅😅😅

    Reply
14. 

    @hassanraza-zc5rp

    December 16, 2023 at 4:56 pm

    That's what you get for being corporate slaves. I'd rather go into farming than go into job.

    Reply
15. 

    @Kyle-bb9zp

    December 16, 2023 at 4:56 pm

    New technology sucks no good can't all that and a bag of chips.

    Reply
16. 

    @BBb-id9kj

    December 16, 2023 at 4:56 pm

    Many real reasons outlined here but fundamentally there is no demand for techie types. AI is taking over and more work volume and more work variety can be granted through a smaller workforce.

    Reply
17. 

    @waffle8364

    December 16, 2023 at 4:56 pm

    This is just flooding the market with unemployed people. increasing competition. Juniors will be hit the hardest

    Reply
18. 

    @cashed-out2192

    December 16, 2023 at 4:56 pm

    These people got too greedy

    Reply
19. 

    @ocean6882

    December 16, 2023 at 4:56 pm

    Useless jobs tbh they’re not laying off programmers or actually useful people.

    Reply
20. 

    @johnalvarado1394

    December 16, 2023 at 4:56 pm

    Make way coming through some of us actually work for a living

    Reply
21. 

    @dominicakens2307

    December 16, 2023 at 4:56 pm

    Who needs human if they have Ai to work for them

    Reply
22. 

    @synovium

    December 16, 2023 at 4:56 pm

    As someone who's been relying on Amazon for years, it's disheartening to witness the downfall of their customer service. Outsourcing to India has created a language barrier that makes it frustrating to seek assistance. Prioritizing shareholders over customer satisfaction is a shortsighted move. Let's hope Andy Jassy reevaluates its approach and returns the excellent service we once knew. #AmazonFail #CustomerExperienceMatters

    Reply
23. 

    @podcastingexplained

    December 16, 2023 at 4:56 pm

    This is what they missed in the bigger picture: They fired people because now with remote working and contractor-gig economy they can re-hire for the same positions at a fraction of the cost, so closing existing contracts made financial sense. They also are getting ready to implement AI which means less workforce is needed or tasks get completed faster (aka less work is needed). They also needed tho improve the appeal of their stock during the bear market to get more investors money. Those jobs are never coming back, surely not in the same amount or pay or conditions. The employment market needs to be better regulated and these companies need SEVERE backlash from the public every time there are mass layoffs. Companies inflict damage on people because they have no punishment for doing so, if a punishment is put in place then this is factored in into a cost/benefit analysis and they might act differently and not discard the people that work for them and made them who they are.

    Reply
24. 

    @JessicaTilmen-gh4ki

    December 16, 2023 at 4:56 pm

    Don't you all worry those jobs were handed to Indian workers with fresh visas. 😂

    Reply
25. 

    @panashifzco3311

    December 16, 2023 at 4:56 pm

    Really good video

    Reply
26. 

    @LR-pw9dd

    December 16, 2023 at 4:56 pm

    It’s over

    Reply
27. 

    @Grichman98

    December 16, 2023 at 4:56 pm

    wars coming because we have allowed these giants to control too much

    Reply
28. 

    @Tomtownsend485

    December 16, 2023 at 4:56 pm

    This year seems slow , especially financially 😔 I feel like inflation is affecting majority of us God will help us 🙏

    Reply
29. 

    @jordanthedoge535

    December 16, 2023 at 4:56 pm

    Tech workers are creating the software and system to eliminate jobs, now they are the once being eliminated because of AI.

    Reply
30. 

    @gregsmith9258

    December 16, 2023 at 4:56 pm

    When you invest, you're buying a day you don't have to work

    Reply
31. 

    @sanujitroy6830

    December 16, 2023 at 4:56 pm

    We need to understand why Russia didn't focus on IT industry although having capability and resources and other European countries didn't consider IT backbone

    Reply
32. 

    @pallavinagabushan9672

    December 16, 2023 at 4:56 pm

    I think its kind of layoff or "Refinement" as "2 Lakh Indian employees" have been terminated rapidly in just 2 months

    Reply
33. 

    @bobbymainz1160

    December 16, 2023 at 4:56 pm

    This is quite educational. It's crucial for newcomers to keep in mind that the financial markets are highly irrational in the short run. You should constantly be ready for the unexpected. That is how chance operates. Because of the inherent risks in the market, I always favor long-term investments.

    Reply
34. 

    @billdavis6978

    December 16, 2023 at 4:56 pm

    Personally, I think too much money has been going to Social media stars and it’s going to balance out. Other jobs like construction aren’t being filled, driving up the cost of housing and building.

    Reply
35. 

    @ronnierebel6388

    December 16, 2023 at 4:56 pm

    Why do workers gotta pay for the higher ups mistakes nobody asked for meta verse literally no one

    Reply
36. 

    @mehmetkoyuncuoglu1647

    December 16, 2023 at 4:56 pm

    It was my biggest mistake in focusing on being software engineer (Full Stack Developer) and I will focus on something which least competitive

    Reply
37. 

    @sallyisabel

    December 16, 2023 at 4:56 pm

    Is the interviewer wearing a headband?

    Reply
38. 

    @TechVistaHub369

    December 16, 2023 at 4:56 pm

    I have worked in three different corporate jobs, all at MNCs. And my experience has been horrible. Every day our managers used to threaten us, saying, "We will fire you," either because of performance or some other issue. So I can safely say government jobs are thousands of times better than horrible private jobs. At the end of the day, people want job security and stability; unfortunately, the private sector can't provide that. If you're a government employee, you can have a tension-free life. In a government job, you can enjoy your life, but in a private job, your life will become measurable and a living hell. As far as salary is concerned, government jobs do offer quite attractive salaries plus other perks. Also, post-retirement benefits are huge.

    Every 10 years, there are recessions, or the company might be struggling due to business cycles. Then the companies will do cost cutting, and then thousands will get laid off. That's the ugly truth of private jobs. Never compare with govt job.  In private jobs, there is no respect. Private companies don't care about their employees; even if an employee is very talented, they're disposable. Private companies only care about three things: the top line, the bottom line, and shareholder value. And even if all three parameters are good, your job is still not safe.

    Reply
39. 

    @geraldod3166

    December 16, 2023 at 4:56 pm

    Will the layoffs affect the big guy's %?

    Reply
40. 

    @Tradefreemind

    December 16, 2023 at 4:56 pm

    https://kamal-market.blogspot.com/2023/03/blog-post.html

    Reply
41. 

    @harryfields8426

    December 16, 2023 at 4:56 pm

    You where told if you keep playing games with America and vote joe Biden in office and dance with these democrats me and my family used to vote Democrats all of our lives but we came to realize they’re not for us as a Americans . They are filling the pockets full of money from China and everybody else. Wake up America it’s almost too late already. Your kids will starve if we keep playing these games with America.

    Reply
42. 

    @watleypitts

    December 16, 2023 at 4:56 pm

    A perfect storm is brewing in the United States. Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place. <It's all coming together and it could lead to a real disaster towards the end of this year (or sooner). With inflation currently at about 6%, my primary concern is how to maximize my savings/ retirement fund of about $300k which has been sitting duck since forever with zero to no gains.>

    Reply
43. 

    @QPRTokyo

    December 16, 2023 at 4:56 pm

    Also finding out some employees are actually not doing much work.

    Reply
44. 

    @crystalidx

    December 16, 2023 at 4:56 pm

    Rich people cry when they lose their jobs, but no good jobs for most people.

    Reply
45. 

    @LmfaorozMinecraft

    December 16, 2023 at 4:56 pm

    guess tech bros need to find a actually useful skills now ¯⁠⁠_⁠(⁠ツ⁠)⁠_⁠/⁠¯

    Reply
46. 

    @GracefullyPM

    December 16, 2023 at 4:56 pm

    I was laid off at Meta. Here's what I learned: https://www.youtube.com/watch?v=0zOd59K6V8o&t=3s

    Reply
47. 

    @blue1q3lovely

    December 16, 2023 at 4:56 pm

    i thought people don't want to work! the great resignation!

    Reply

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