Re:Ericsson to lay off 8,500 employees
by stevehawk on Friday February 24, 2023 @01:53PM
(#34928337)
except the tech industry has been immune to layoffs because it would represent such bad PR to be the one company downsizing in the midst of a bull market. Fortunately for the tech industry, the market is now bearish and they're finally allowed to trim the fat that they've been accruing for over a decade, which is why when someone finally blinked first then the rest followed (and continue to follow).
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Re:Ericsson to lay off 8,500 employees
by patrick451 on Friday February 24, 2023 @02:38PM
(#34928980)
If there was so much fat to trim, why have they been relentlessly growing headcount for the last 2 years?
Re:Ericsson to lay off 8,500 employees
by great_psy on Friday February 24, 2023 @02:43PM
(#34929060)
The view of laying off in a bull market being bad PR implies those companies wanted to lay people off in the first place.
During the bull market they were fighting with each other to hire more, which is the opposite signal.
Sure the bear market allows them to layoff, but I don’t think they wanted to lay anyone off up until 6 months ago.