UPS just announced 12,000
Google 12,000 in the next 2 quarters
Microsoft 1,900 from gaming division
Paypal 2,500
Dropbox, IBM, Amazon, Tiktok, and Salesforce all announced layoffs as well
Lots of retail including Levi's and REI
American Airlines 656
I'm sure more to come. It's going to get worse out there for those of us looking. Every person that gets laid off is another in the market looking for work.
"Mass layoffs are in store for 2024, and it might end up affecting nearly half of companies, according to a new poll.
That's the latest information from a Resume Builder survey, based on responses from more than 900 companies this month. Resume Builder is a professional platform that allows users to create resumes in just a few steps.
In the survey, nearly four in 10 companies said they are likely to have layoffs in 2024, prompting increased fears of a recession around the corner. More than half of companies also said they plan to implement a hiring freeze in 2024.
When asked why the companies were engaging in the layoffs, half said the anticipation of a recession was a reason. Meanwhile, a little less, four in 10 said they are going to lay off employees and replace workers with artificial intelligence (AI)."
https://www.newsweek.com/mass-layoffs-happening-2024-hiring-freeze-1855942
Any truth to this?
People working in IT tech & non tech companies, and other fields.
I’m a current in house recruiter for my company (telecommunications). I’ve been here 2 years. I really enjoy my job but we have over the last year pretty much stopped adding headcount and some of the open positions we have we are not even backfilling. I haven’t had more than 5 open positions to recruit for for at least a month and a half. Obviously that’s not totally out of the ordinary for the end of the year. But now we’re almost through January and nothing has changed.
On top of that our company recently restructured to make the recruiting department centralized. Reorganizations always make me worried about potential layoffs. Our company did do 2 rounds of layoffs last year but after the second one the CEO sent out an email to the company addressing the Layoffs and assuring that no other layoffs were planned at that time. However now we have a new budget for 2024 so I don’t know if that has been changed. When our department announced the restructure I asked the director multiple times if she anticipated downsizing and she said no.
I’m so worried about losing my job. I’m doing everything I can to keep myself busy and add value where I can. I’m a part of multiple committees and projects. I keep offering to help my new supervisor with recruiting for the other markets or for any other projects within the recruiting scope that I can assist her with. She has not given me any extra work. That itself has made me nervous that they don’t want to hand any work to me if they are planning to let me go anyway. I don’t have access to all of our open positions so I’m not entirely sure of how many open we have but I’m worried it’s not enough to give each of us a full workload. And since I probably have the smallest amount right now out of anyone I worry they’ll just decide I’m the easiest person to cut. I don’t think this years budget has been approved yet but I don’t know if that’s going to make a difference.
Does anyone have any insights into the job market or any patterns of layoffs/economy/etc that would provide any relevant information to my situation? I look for recruiter jobs from time to time just to see how the market looks. There seem to be more posted positions now than there were several months ago but I haven’t applied to any so I don’t know if they’d be good prospects. That being said I really just want to keep my current position because I really love it. I’m so anxious about it all I’m sick to my stomach. Someone help😩
I was with my previous employer for close to 7 years. Your story is extremely familiar to me. The (F100) company went through 2-3 rounds of layoffs and after each round, our CEO and EVP ensured we were safe and that our team would (at worst) be reassigned to support another team.
Workload slowed and the remaining responsibilities became almost mind numbing, robotic work. The entire team was ultimately displaced a couple of months later without explanation as to why we were led to believe we’d still have jobs supporting another team.
Let’s just say, companies lie and do not have your best interest at heart. The larger they are the bigger the lie. if you suspect you’re being laid off, it’s best you hedge your risk by starting your search now, as daunting as the process might be. I hope I’m wrong but wishing you the best of luck!!
Unfortunately, there's not transparency when it comes to layoffs. You can do all the things, and it'll happen. Certainly worth doing all the extras, but at the end of the day it comes down to money. You're either making your company money, or losing money. I myself find myself on a similar predicament. I've been casually looking for roles, but now that it's 2024 companies have new budges and headcounts. So strike when the iron is hot when it comes to applying to jobs. Last year we had layoffs in April, and I lost 2 team members. So I'm going to start aggressively looking now. Doesn't mean I'll take a job, but JUST in case. I got a family that rely on me. My loyalty to my company doesn't out weigh my loyalty to my family and providing.
That being said, I really enjoy my job!! I don't want to leave or let go, but I gotta look out for #1. They can give all the cliche's "we love our team here" and whatever other lie they may tell everyone. At the end of the day Sr leadership will make that call. So do what you can to protect yourself.
2024 has kicked off with a bunch of layoffs.
Here is the list of some of the big companies that have cut jobs since the year began:
Amazon, Google, Walmart, BlackRock, Citigroup, Macy's, Universal Music, Xerox and now Wayfair
Who are we hearing is next?
Ive heard grumbling of a large wave of layoffs coming to tech in early-2024. Already had some in the last few weeks & sort of get the vibe one might be coming at my small company, but no department is clear yet.
Anyone else here expecting it to hit their SF team? Any managers here prepping for reducing headcount on their SF teams once the holidays end?
For those wandering why the job market is difficult right now - IT/Security is not immune to layoffs
I read this article about how companies are doing more layoffs in 2024 due to AI. anyone else worried? I was going to jump to a new company but I think the market will be even worse
https://www.newsweek.com/mass-layoffs-happening-2024-hiring-freeze-1855942
For the help with others that may not know yet, what tech companies do you believe/know will be laying off in 2024?
For the current tech job market, I'm reading quite a bit where many tech companies are using the reason "we over-hired" for many of the tech layoffs currently going on. How much of that is just saying (in not so many words) techs/engineers are being replaced by AI/automation? For everyone being hateful due to the question, the articles kinda state there's some truth to it.
Tech Layoffs Predictions 2024: Will Job Cuts Exceed 250K? - Techopedia
Tech companies are slashing thousands of jobs as they pivot toward AI - CBS News
AI is already linked to layoffs in the industry that created it | CNN Business
AI and cost cutting biggest reasons why tech layoffs have surged by 136 per cent in 2024, reveals study - India Today
Can we automate the redacting or deletion of threads talking about AI taking our jobs like some south park rednecks?
i’m going to ask respectfully again to please stfu about AI. it is not replacing anybody who wasn’t already able to be outsourced to a 3rd world country. what is happening is a correction. in 2020 companies were growing rapidly and were able to justify hiring more people. now there is less growth and people are getting laid off, primarily non technical folks. chill out
Back in March of 2024, I was laid off. My meeting with the Director, which I thought it was a simple check-in, but as soon as I seen a HR person there, I knew I was either going to be laid off or demoted. They told me it had nothing to do with my performance, they just didn't have the "funds" to continue with my role (eventhough they are still hiring people).
Less than a week later, my old director contacts me asking if I'd be interested in applying for a role. For context they laid off three designers and a few devs, so the new role would encompass more design dutites along with some minor dev work. I thought it was an insult to ask me to come back to do more with less pay. I told them what they could do with that job. I will say they gave me a pretty good severance all things considered. Right away I applied for E.I., it took less than a month to approve to recieve it.
Fast foward to about 3 months in being laid off, I got an offer for PT work, that pays pretty well. Enough for me to get by with rent and groceries. Fast forward even more to the end of last year, I recieved a job offer for full-time work. 7 interviews in 2024. Getting 2/7 isn't bad. I'm grateful for the new opportunities that have come my way. Working two jobs isn't what I had in mind, but managable because I WFH.
All this to say, if you've been laid off, don't be discouraged. The market is tough, be prepaired for the long hall (sorry, just gotta be realistic). Apply to jobs every day, even if you don't want to. Find ways to be productive (not just in your field, but health wise as well). Exercise (go for walks, running, work out from home, etc). Never be afraid or ashamed to work outside of your field (store, kitchen, delivery, etc), bills gotta be paid. And, remember, that no one is prone to bad times. We all experience it, no matter who you are, you're going to experience times like this. They don't last. Remain hopeful, there were a lot of dark times while I was off. Something will come along. It takes time to find the right place and right team. Sometimes it's luck, other times it's just being at the right place at the right time.
Anywho, just thought I'd share my story. Never give up people! Remain positive through tough times!
EDIT:
Also don't be afraid of rejection. I lost count on how many jobs I applied for, but it had to be close to 300. Seeing rejection after rejection did hurt. But, sometimes I believe that it's not that you're not right one for the job, as you are the right fit. If that make sense. Apply! Apply! Apply! Even if your skills or experience aren't up to par, apply anyways. Ya never know.
In regards to rejection, I’ve found that in many cases it’s not so much a rejection but in reality the job wasn’t really there. They may have been under the assumption they would need to (or be able to) hire some new people but for whatever reasons they didn’t. There’s also been instances where I interviewed and it went so well, only to be given a canned rejection email. In this case, they had the people they were giving the jobs to, but had to interview x number of people to make it look transparent. In that case, they made a huge mistake and will probably never realize it. They will never be able to afford me now.
TL;DR Agreeing that Rejections don’t mean that you suck, in many cases it’s that employer that sucks, and the “rejection” is the best thing that could happen for you, even if it doesn’t seem like it.
The trick is to find many other productive things to do MEANTIME, while going through the roller coaster of seeking the next opportunity.
To spend hours on days mail bombing resumes eventually becomes Law of Declining Returns.
Invest in your other balls in the air.. Talk to people… Help people, volunteer, mentor.. Learn & develop a skill.. Help others and they will make it a point to help you (without being asked)… THAT is networking..
EVENTUALLY your time and chance will come…