Re:Tech layoffs keep stacking up
by YZF on Friday July 01, 2022 @10:32AM
(#31946918)
Right. The same site from which this is taken shows ~400k open tech positions. That ratio is pretty decent.
Didn't Elon just say how Tesla's software needs more work? How is he going to do that without software engineers? Is Tesla even laying off software people or other employees? As a model 3 owner, the mobile app sucks, the in-car UI/UX which was cutting edge is now falling behind, let's not talk about auto-pilot/self-driving. They should be desperate for better software people.
The one common thing about "overvalued" companies is that they either need to show strong growth or their stock is going to be decimated. Management often looks at headcount as proxy of growth (I'd argue that's not always correct but that's a different question). It's extremely dangerous for the stock price of these "overvalued" companies to do massive layoffs both in term of further hurting the short term and a big impact on the long term. If they have plenty of cash they can and should be looking forward. That said this can be a reasonable excuse to offload some lower performing employees or adjust some priorities.
Didn't Elon just say how Tesla's software needs more work? How is he going to do that without software engineers? Is Tesla even laying off software people or other employees? As a model 3 owner, the mobile app sucks, the in-car UI/UX which was cutting edge is now falling behind, let's not talk about auto-pilot/self-driving. They should be desperate for better software people.
The one common thing about "overvalued" companies is that they either need to show strong growth or their stock is going to be decimated. Management often looks at headcount as proxy of growth (I'd argue that's not always correct but that's a different question). It's extremely dangerous for the stock price of these "overvalued" companies to do massive layoffs both in term of further hurting the short term and a big impact on the long term. If they have plenty of cash they can and should be looking forward. That said this can be a reasonable excuse to offload some lower performing employees or adjust some priorities.