'Tis the (layoff) season. Again.
Yesterday felt pretty gloomy for those in tech. Several companies announced layoffs, including Lyft, Stripe, OpenDoor, and Chime. And let’s not forget Twitter which is cutting 50% of its employees today.
Why is this happening? A few reasons.
- The obvious one is the recession. Recent earnings reports are sending red signals to investors, making it more important than ever for companies to focus on increasing their profit margins and cutting costs.
- But why so many this week? Chatter on Twitter hints that Elon Musk’s plan to cut 3,700 jobs this Friday gave companies the idea to do the same, thus taking some of the attention off of them for doing the same.
- Another theory we’ve seen floating around is that the holiday season approaching presumably makes the transition period easier. Conducting layoffs now also allows companies to meet the requirements of California’s WARN Act (i.e. 60-day notice) before Christmas.
What now? It’s hard to say how much longer it will be before we see the light at the end of the economic tunnel, or whether layoffs and hiring freezes will continue. What is clear is that, despite the noise in big tech, many companies are still hiring.
In the meantime... some tools to help you spot open positions:
- AI Jobs lets you apply to 1000+ jobs in AI and machine learning.
- This jobs site aggregates fully remote jobs.
- Dream Job Hub is a step-by-step execution guide; like mission control for job applications.
- Hear us out: A space-age porta-potty. Part futuristic spacecraft, part minimalist art piece. 400W of solar to power Starlink, an always-on fan that eliminates odors, and a full-length mirror. It’s Jupe’s Portal.
- OLOID M-Tag replaces the traditional workplace badge with a Tesla-like mobile key experience.
- Laudspeaker is an open-source alternative to Customer.io and Iterable.
- Discover ideas, highlight inspiring moments, take timestamped notes, and share insights from podcasts and YouTube videos with Inspod.
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