Ibraheem Jabbar’s Post

ech layoffs in 2023: A timeline Facing an uncertain global economy and slowing revenue growth, technology companies have picked up the pace of layoffs in 2023. Here's an updated timeline of notable layoffs, and reasons why Big Tech is in turmoil. Though technology companies announced massive layoffs last year, 2023 has been much worse. Layoffs have far outpaced last year's cuts, as tech giants including Amazon, Cisco, Facebook parent company Meta, Microsoft, Google, IBM, SAP, and Salesforce — as well as many smaller companies — announce sweeping job cuts. https://lnkd.in/dSPAxZge

In 2024, Microsoft Corporation leads in layoffs, having let go of around 1,000 employees. This follows a larger reduction of over 10,000 jobs the previous year, driven by investor pressure due to slow revenue growth. Despite these workforce cuts, Microsoft's stock has surged by 79% since early 2023, although its earnings per share have seen only a slight increase. Joe Procopio argues that such layoffs are due to the tech industry's excessive focus on growth over profitability. Companies have prioritised metrics like user growth and engagement, resulting in attention-grabbing but not necessarily valuable products. He criticises the industry for losing sight of solving real problems and improving lives, instead of chasing vanity metrics and suggests that tech companies should shift their focus towards creating products that genuinely improve lives and provide real value. #Layoffs #Tech #GoBeyond https://lnkd.in/eeaa7KVW

🚨 Reflections on Recent Microsoft Layoffs: Lessons Learned in the Age of AI🚨 As many of you may know, Microsoft recently announced significant layoffs, impacting thousands of dedicated employees. This news resonates deeply within the tech sector and beyond, as it reflects ongoing trends in the job market — trends that I, as a career coach and corporate trainer, can’t help but analyze. One of the recent session I had with one of the most affected family and learn following things. 📉 Market Impact The immediate fallout from such a seismic shift in workforce dynamics results in ripples across the market. As we’ve seen with previous layoffs in major corporations, stock prices often experience short-term stabilization, but the underlying concern remains — **job security**. Confidence in the tech market can waver, and potential talent may reconsider their career paths, weighing the stability of their current or prospective employers. 🤖 AI's Growing Footprint Let’s not shy away from the ELEPHANT in the room: Is AI truly taking over the job market?? The answer is nuanced. AI is undoubtedly transforming industries and automating repetitive tasks, leading to concerns about job displacement. However, it’s crucial to recognize that AI also creates new opportunities and roles that didn’t exist before. Here’s the key takeaway: While AI might replace certain jobs, it opens the door for innovation and roles that require “human ingenuity” — an element that machines cannot replicate! 🌱 Lessons Learned Recently, during a session with one of the most affected families from these layoffs, I learned valuable insights that underscore the importance of resilience and adaptability in times of uncertainty. Here are some key takeaways: 1. Adaptability is Key: The workforce must evolve continuously with changing technologies. Upskilling and reskilling will be essential for survival in this fast-paced environment. 2. Embrace Change: Layoffs, while painful, are often part of organizations adapting to new realities. This is a moment for both corporations and professionals to reassess priorities and strategies. 3. Find Your Niche: With the rise of AI, specialization is crucial. Identify the areas where human skills, creativity, and emotional intelligence are irreplaceable, and pivot towards them. As professionals, we must harness the chaos and uncertainty as fuel for growth. It’s not merely about survival; it’s about thriving in an evolving landscape. If you find yourself facing job upheaval, don’t hesitate to seek guidance or professional coaching. The journey might be challenging, but it’s also filled with potential for transformation and reinvention. Let’s engage in a discussion! How do you see the intersection of layoffs and AI shaping our futures? 💬 #MicrosoftLayoffs #JobMarket #AIFuture #CareerCoaching #ChangeManagement #Upskilling #Adaptability #Networking

🚨 **TL;DR: This Techopedia article dives into the controversial topic of tech layoffs predictions. While some voices in the industry predict doom and gloom with widespread job losses due to automation and economic downturns, others see layoffs as a necessary adjustment for companies to stay competitive and agile. However, amidst the uncertainty, one thing remains clear: the tech landscape is evolving, and both challenges and opportunities lie ahead for professionals in the field. *Key Points:* - Predictions about tech layoffs paint a mixed picture, with some foreseeing significant job losses while others view layoffs as strategic adjustments. - Automation and economic factors are cited as potential drivers of layoffs, but technological advancements also bring new opportunities. - Despite the uncertainty, professionals should stay adaptable and proactive to navigate the evolving tech landscape effectively. 🎙️*My Take:*🎙️ As technology continues to advance, opportunities for innovation and growth abound. While layoffs may be a reality for some, the transformative power of AI and automation presents endless possibilities for professionals to upskill, reskill, and explore new avenues within the tech industry. Embracing these changes with a positive mindset can lead to exciting career trajectories and contribute to shaping a brighter future for the tech workforce. #layoffs #techlayoffs #ai #2024predictions Link: https://lnkd.in/dBSUi8qM

Tech Layoffs and Automation: How Job Losses Impact the Tech Industry and Our Future #accountabilityofalgorithms #automationandjobmarket #automationintechindustry #economicuncertainty #impactoftechlayoffs #incomeinequalityintechindustry #shiftingbusinessstrategies #techindustrychallenges #techlayoffs

There’s been an absolute bloodbath in the tech industry since mid-2022. Many companies, some publicly and some privately, announced waves of layoffs of software engineers, developers, and other closely related IT roles. 𝑨𝒓𝒆 𝒘𝒆 𝒐𝒗𝒆𝒓 𝒕𝒉𝒆 “𝒉𝒖𝒎𝒑”? 𝑪𝒂𝒏 𝒘𝒆 𝒆𝒙𝒑𝒆𝒄𝒕 𝒂 𝒓𝒆𝒃𝒐𝒖𝒏𝒅, 𝒐𝒓 𝒘𝒊𝒍𝒍 𝒘𝒆 𝒄𝒐𝒏𝒕𝒊𝒏𝒖𝒆 𝒕𝒐 𝒔𝒆𝒆 𝒍𝒂𝒚𝒐𝒇𝒇𝒔 𝒊𝒏 2024? The data indicates an uptick in layoffs in 2024 regarding the number of employees laid off, but fewer companies are laying off employees. From what I see in the industry, tighter budgets are affecting everyone. Spending on non-mission-critical tools and features is scrutinized as organizations optimize their operational costs. The same goes for roles that “aren’t critical for production.” Based on what I’m seeing and reading, we’re going to experience darker days before a rebound in the tech industry. However, I believe that the need for skilled workers with a computer science / software engineering background will grow over the long term (2-3 years). There are three main factors - 𝒖𝒏𝒄𝒆𝒓𝒕𝒂𝒊𝒏𝒕𝒚 𝒂𝒃𝒐𝒖𝒕 𝒕𝒉𝒆 𝒊𝒏𝒕𝒆𝒓𝒆𝒔𝒕 𝒓𝒂𝒕𝒆𝒔 / “𝒓𝒆𝒄𝒆𝒔𝒔𝒊𝒐𝒏,” 𝒖𝒏𝒄𝒆𝒓𝒕𝒂𝒊𝒏𝒕𝒚 𝒂𝒃𝒐𝒖𝒕 𝒕𝒉𝒆 𝒑𝒐𝒍𝒊𝒕𝒊𝒄𝒂𝒍 𝒔𝒕𝒂𝒕𝒆 𝒐𝒇 𝒕𝒉𝒆 𝒘𝒐𝒓𝒍𝒅 (𝑼𝑺 2024, 𝒘𝒂𝒓𝒔 𝒊𝒏 𝒎𝒖𝒍𝒕𝒊𝒑𝒍𝒆 𝒛𝒐𝒏𝒆𝒔), 𝒂𝒏𝒅 𝒖𝒏𝒄𝒆𝒓𝒕𝒂𝒊𝒏𝒕𝒚 𝒂𝒓𝒐𝒖𝒏𝒅 𝑨𝑰 𝒕𝒐𝒐𝒍𝒔 𝒂𝒏𝒅 𝒂𝒑𝒑𝒍𝒊𝒄𝒂𝒕𝒊𝒐𝒏𝒔. The current trends indicate a stabilization of the interest rates by mid-2024. We will most likely be much more certain about the US elections around the same time. AI tools will continue to mature throughout the year… The conflicts “should” stabilize. Top companies continue to hire engineers for various roles. However, the bar has certainly been raised from what it was in 2021… Best of luck to those looking for their next role. #automation #softwareengineering #DevOps

In some circumstances, layoffs may be necessary. Such as lack of work, major hardship on the company, major loss in profit/funding. However, this post does say a lot about what we have been experiencing as a society these past few years. I’ve seen so many incredible lives impacted by companies making billions per year laying off their employees without making any other changes to perks/leadership/structure and claiming even higher profits for the top.

Tech Layoffs Cast Shadow over 2024: Is This Our New Normal? The tech industry started 2024 with a grim echo of the previous year: mass layoffs. Thousands of employees at major companies like Google, Microsoft, and Amazon have lost their jobs already, raising concerns about the industry's stability and job security. Key data points: Over 32,000 tech workers laid off in 2024 so far (Layoffs.fyi) 2023 saw a record high of 2.6 million tech layoffs Cost-saving and restructuring are cited as primary reasons for cuts What's driving this trend? Economic slowdown: Concerns about a global recession are forcing companies to tighten budgets. Shifting priorities: Companies are investing in automation and AI, potentially impacting certain roles. Post-pandemic adjustments: Overhiring during the pandemic boom might be leading to corrections now. What does this mean for tech professionals? Upskilling and reskilling are crucial: Staying adaptable and relevant in a changing landscape is key. Focus on niche expertise: Specializing in high-demand areas can improve your job security. Network actively: Building strong connections can help navigate these uncertain times. #techlayoffs, #jobsecurity, #techindustry, #2024, #workforcetrends, #restructuring, #AIimpact, #automationimpact, #upskilling, #reskilling, #cloudcomputing, #cybersecurity, #dataanalytics, #machinelearning, #softwareengineering, #agilemethodology, #digitaltransformation, #softwareskills, #communication, #projectmanagement, #leadership, #adaptability, #careertransition, #futureofwork

What has caused this recent spate of #layoffs, and despite record earnings performance and stock prices, why are the layoffs continuing? Dive into this month's #FromTheFrontLines for a closer look at the factors driving layoffs among the 40 biggest tech companies, from Microsoft to Workday. Read more: https://lnkd.in/gFnwvdAu Sign up for #FromTheFrontLines to receive monthly updates directly in your inbox: https://lnkd.in/eEWTfVmr #Bowen #FTFL #Trendlines #growthtech #mergersandacquisitions #investmentbank #techlayoffs