There are silent layoffs now. Companies have started treating it as regular business

Recruiter

Not yet. This will go on for another 3 quarters at least.

Any further insight on this? How are we able to tell this confidently. Please help

Lawyer

Investor

Looks like job market is a bit more stable nowadays, first half of the year was all about layoffs, and pink slips. Post June while the layoff news is still coming in, it's not as frequent as earlie...

Welcome to News Discussion's Private Community

Looks like job market is a bit more stable nowadays, first half of the year was all about layoffs, and pink slips. Post June while the layoff news is still coming in, it's not as frequent as earlier. Maybe no boom right now in job market but feel it's relatively more stable.

Has the job market stabilized now? Don't hear too many layoff news nowadays.

Software Engineer

Has the job market stabilized now? Don't hear too many layoff news nowadays.- Grapevine

I am seeing a lot of layoff related posts everywhere from news articles to LinkedIn.. Is the Job market really that bad now? Or just the media is projecting that way? 

If it's really bad, which department you think is the most affected? How's layoffs specifically in India? Or is it layoffs in US but more hiring in India due to cost cutting? 

Are layoffs in technology/engineering dept as in for developers or some other departments? Your thoughts please..

Job Market right now in India?

It is really bad right now 
 1. Layoffs in many of the companies, irrespective of whether they're a startup or a big MnC. 
 2. Almost everyone I know of wants to switch, because of no/less appraisals from last 2 years 
 3. Bad work life balance - people thinks switching might help 
 4. Too much competition for any open position. Because of too much supply, companies are low-balling and people would accept the offer.  
  
 Recruiters ghosting is too common. Even if you've killed in your interviews and recruiters get someone who's ready to join on less pay, they'll simply ghost you.

Software Developer

Is job market recovering ? I m seeing so many job postings with  10+ lpa for freshers 

Still many complain abt bad market showcasing recent google layoffs

I'm planning to switch , I'm not sure this is good idea or not!

What is current market situation?

Data engineer

What's your thought on whether the job market is on a trend towards normalizing versus previous quarters? When do you think market will be back to normal?

Job market normalizing?

Medical Expert

Been hearing layoffs again and there are less hiring what's the actual reason for this and when this become normal

Why layoffs ? What's happening with it sector ?

From October , layoffs have increased quite a bit. At least that's what I have been noticing. Personally, I have also been affected and looking for job opportunities since this month. 

Do you think number of layoffs have increased or flattened?

Are we entering into new layoffs wave?

Marketing Manager

Welcome to Software Engineers's Private Community

Around mid-2023, I thought jobs would get better by January 2024. But hearing about recent layoffs and seeing lots of competition makes me doubt when things will actually improve.

I get that the job market goes up and down, but I just want it to be a bit normal, not necessarily back to the best it's ever been.

What's weird to me is that stocks seem okay, but jobs aren't doing so well.

When do you think job market will recover

most of loud layoff are recorded here. trend seems to be going down.

Here you’ll find a complete list of all the known layoffs in tech, from Big Tech to startups, broken down by month throughout 2023.

A comprehensive list of 2023 tech layoffs | TechCrunch

layoff stats

Do you feel 2021 level of Job Market is back?

Suddenly the number of jobs have increased

Product Manager

Being an investor in equity markets, i was aware of the fact that US market will crash as the free money by fed draws back. I obviously was not able to link this up with the funding dry-ness.

I still expect a founder to be aware of these economic events. I am curious how could the management decide to go for hiring employees only to lay them off a year later. 

If you are a founder, would be happy to know the other side of the story.

What triggered layoffs ?

Let me explain in detail. 
 There are two parts to it and can be broken down basis PnL 
 1. Revenues : Sudden jump in tech( social media, e-commerce, ad tech, fintech, etc) plus supporting industries (chipmakers, laptop / device manufacturer) and the general economy with QE money  
 This impacted forecasts as most firms forecast AOPs basis historically trend (which clearly was an abberation) - this lead to higher HC estimates and rampant and quick hiring  
 Variable costs: CAC, customer support, sales incentive all spiked up as 1. Everyone was putting money (inc bidding price for key words) and 2. Huge customer inflow due to covid (edtech, e-commerce) that required support  
 Fixed costs: While office space / rents remained steady or dropped as % of revenue. This was offseted by fixed tech (software, hardware, people) costs and other costs like (legal, HR, Business, Marketing, supply chain, etc.) the talent was expensive to source plus their need was instant as you already had customer to be served  
 All of this lead to rampant hiring, inflated CTC, rosy forecasts, etc.  
 everyone had turned a blind eye to inflation implications (as for the past 30 Y no one saw a shooting inflation - hence the key decisions makers had now experience & idea about it) - till Dec’21 even FED said inflation is transatory. 
 It was the Ukraine invasion that opened people eyes. Oil went up, food prices went up, UK Europe saw an energy crisis etc 
 This made all the rosy forecast mentioned above duller as 1. Demand was expected to reduce due to higher cost of living 2. Capital became scarce as funding drired 3. Cost of capital (WACC) became expensive as hurdle rate climbed (which is rate of return for bond)  
 Management and investor panicked as they have limited partners (LP) to answer and quess who are these (big pension funds) so people’s pension money had come into startups which were not showing signs of exit for investors. 
 All in all - it is a pain we all have to bare for being exuberant in 2021-2022:

Growth Manager

Hi everyone, I am somebody who hasn't interviewed in a while and wanted to get a quick pulse about how the job market is right now. Looking to hear about personal anecdotes. What has your experience been like in today's market compared to 2021? For people who got a huge hike in 2021, how have your appraisals been like? Are you facing issues while switching?

Personally, I haven't been getting random emails from recruiters like I used to get back in 2020/21. Have you also seen a slowdown?

For people who have not been looking out, how have appraisals been for you this year compared to 2021 when attrition was quite high?

Current job market

So many companies are doing layoffs. It's becoming so common that now a days people have even got used to it. Folks in or know about US/UK/Canada, how's the situation over there? Is this shit show becoming common there too?

Hearing a lot of Layoffs lately

Welcome to Indian Startups's Private Community

This is an after thought from what happened at Mojocare and Gomechanic. 

I too have been at a startup that was upto similar stuff. Was really large at one point, until everyone figured something was off. 

For me, the first year or so I never got a hint of things. But over time, as I became closer and more trusted by the founders, things became quite clear. Creation of invoices for the sake of it, recording transactions that were anyway happening in the offline world, as transactions on the platform. Basically buying invoices by giving back businesses some of the VC capital as incentives. It was all messed up.

I always thought of doing something once I figured it out, but ended up not doing it. My only action was to find new roles, and leave as soon as I could. 
I remember discussing with friends - should I reach out to journalists? The answer we came to was that it's too risky, even if done anonymously. AND, that people we know would lose their jobs if the reality came out.

Eventually, it did come out. More people lost their jobs, because in that 1 year they ended up growing more and hiring more. Maybe if I'd been a whistleblower earlier, a lot of money could have been saved, so many jobs would not be lost.

A thank you to the people who have been braver than I was.

Rant: Maybe I should have been a whistleblower earlier (Mojocare aftermath)

Analyst

How bad is the design job market now in India?is there an over

How bad is the design job market now in India?is there an over  supply? What makes a deisgner standout giving him edge over layoffs. I hear people telling to upskill . But what exactly to upskils _ tools,stack,process?

UX/UI Designer

Welcome to IT Company Discussion's Private Community

I'm having a total 3 yoe, which companies are hiring for hybrid/remote SDE-2 roles in ncr region?

How much hikes are you guys getting?

How is the job market currently?

What do you guys think is the reason behind the job market being at its lowest level since past 6-7 months ?

(P.s- i made a horrible mistake by joining a cpa outsourcing startup , I'm not been assigned any client for the past one year also they have not given me any kind of training. I'M FUCKING TRAPPED !!)

Job market

External Audit

I don’t understand what the point really was 

- companies with a bad product are still struggling 
- companies with a good product are still growing
- rent in Bangalore, Mumbai is still sky high 
- salaries are still high, people are still asking for more 
- food is expensive as ever 
- stock prices of companies that fired people never really went up 

Someone make any sense or any of this?

Layoffs were a total failure at changing anything

Is 2024 gonna be even bad year for job seekers. Last 1.5 years was terrible. Please share your thoughts

2024 Outlook for Software job seekers

With big corporate giants like Google, Apple, Bain, Tesla, Amazon etc. laying off staff in the name of cost reduction, automation&innovation and restructuring while at the same time tech companies like Accenture not awarding any yearly hikes to professionals for 2 consecutive years now, where do you see the IT/Tech/Consulting industry heading towards in next couple years down the line? By when is the market expected to revive? Which companies are still committed to ensuring job security along with high pay standards or is that a thing of the past? Please enlighten me😊

Has the job market stabilized now? Don't hear too many layoff news nowadays.

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