Silicon Valley workers traipse to exchange earnings following Large Tech job cuts


Reckoning for big Tech a new round of layoffs from a Silicon Valley giant is sending more shutters through the industry Google's parent company alphabet said today it plans to cut 12 000 jobs about six percent of its Global Workforce Google's CEO blaming the pandemic hiring spree in an email he wrote over the past two years we've seen.

Periods of dramatic growth to match and fuel that growth we hired for a different economic reality than the one we face today it is pretty easy for most companies to cut 10 to 15 percent of their employee base right now so the belt tightening at Google follows other recent job Cuts in the tech World.

Earlier this week Microsoft said it's cutting 10 000 jobs or nearly five percent of its Workforce Amazon has said it's cutting 18 000 jobs and meta the parent company of Facebook announced it's laying off 11 000 positions all right the tech sector has been hurt by Rising interest rates and the slumping global economy companies are also.

Purchasing fewer ads on Google's search engine that contributed to alphabet's quarterly profit falling 27 percent in October so as you can imagine a lot of uncertainty for Tech workers particularly ones who depend on their jobs to stay in the country Sean chitnus takes a closer look at the potential impact.

It still isn't any easier for people in the tech industry to hear about more layoffs from another major player in the business I just think about them uh once I hear this news for hemant rawat he's thinking of the people who got the news from Google on Friday that they were losing their job they are right now very stressed out and not in a mood to talk.

About it hey month knows families who are on a Visa like him dependent on a job to stay in the U.S they've made a life for themselves in the Bay Area they have developed so much relationship here with they've developed so much friendship here they have left their homes back in their home country and their kids are growing here.

Recruiter Alan Anderson says it's essential to be proactive and start looking for your next job immediately she knows the feeling first hand because she's been laid off before and worked in Tech and I personally within the last two weeks have had a number of candidates it's coming to me um pretty upset devastated they weren't.

Expecting this at all she knows there is low employment overall but still thinks it's harder to find a job in Tech right now I would say it's a tough job market I I really would experts who studied the job market carefully say this is more of a correction in the industry the fundamentals are still strong I mean I've been in the field now for 40 plus.

Years and during that time we've had four or five different realignments and I would say this is one more realignment in Tech former EDD director Michael bernick points out that recent layoffs are largely the result of over hiring during the pandemic I think we're going to continue to see more layoffs more layoffs worry workers like Heyman for.

His daughter and other children like her if a parent can't find more work immediately they won't be able to stay here without a green card if I lose a job I have to go and pack everything and right away and take her along with me and while these layoffs will affect people beyond the Bay Area here in Mountain View the Chamber of Commerce.

Tells us it's already anticipating the need for more people to shop local and support small businesses now that they will be getting even less foot traffic from Google workers Sean thank you and despite the wave of tech layoffs the bay area's economy is still showing strength San Francisco and Santa Clara County's unemployment rates both fell to two.

Percent last month and the region fueled the majority of California's job gains the San Francisco San Mateo area added 6 400 jobs the East Bay gained more than 3 thousand jobs and Santa Clara County added 1800 jobs

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3 thoughts on “Silicon Valley workers traipse to exchange earnings following Large Tech job cuts

  1. Tougher to search out a job in Tech? perhaps only in the neighborhood for huge tech in the US. But here in Europe I'm getting pestered by recruiters several times a day.But reality learn, I don't deem that is any assorted in the US both, as they're the biggest tech hub by a mess of components

  2. Issue goodbye to your entire adult daycare company ! 50k leftoids out of tech jobs is a enormous launch !!! The sins of the emoloyer shall be exacted upon their workforce . But hiya, 2 months of paid fracture day and yet every other 16 weeks that you can perhaps also take into consideration severance may perhaps fair aloof final you lengthy enough to perhaps derive a McDonald's job . With all these techies getting laid off, I'm guessing Starbucks is going to lose alot of cash as neatly, with no one making an strive for $12 lattes on daily foundation .

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