Every day there’s more big job cuts at tech and games companies. I’ve not seen anything explaining why they all seam to be at once like this. Is it coincidence or is there something driving all the job cuts?
this post was submitted on 25 Jan 2024
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Overinvestment and strong labor demand led to very high salaries. Investors hate high salaries. Firing people they can replace at a discount now that supply is increasing
It's this.
With inflation, everyone deserves a higher salary. And programmers are able to command it.
CEOs hate this, so they're playing chicken.
They'll all get fired and pull their golden parachute in the next three years, when the shit hits the fan because they decided they could get by without XYZ critical skill.
Then they'll go to the next place and evangelize about how "you've got to invest in talent".
And soon they'll be surprised the employees are less and less loyal and blame it on the new generations.