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Comment by samspenc | Hacker News Reader

But the problem is where do they go? Yes, Twitter laid off 3750 people, but Meta just laid off 11000, so the job market -- at least for that pool -- is saturated right now, and I'm not sure if anyone wants to voluntarily walk off their job in today's economy.

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Number I saw this morning showed meta had added 15k workers since Jan 2022. Laying off 11k still has a higher headcount than a year ago. The question of who those 11k were May be more interesting, but this doesn’t seem like some end of the world bloodbath.

This is nothing. The NYC developer market was completely saturated in 2008 when Lehman brothers went under and AIG made huge cuts to their IT organization. I recall the number being 60-80k developers looking for jobs all at once.

If you have employable skills you will find work

Might find work, but is it at the same comp level? I'm unemployed, I'm worried I'll have to take less then pay then I was making before (270-320k based on the stock price)

I’m also in BigTech and have seen my compensation drop (unless there is a major uptick before my next vest in a month).

But, seriously, I’ve got the worlds smallest fiddle for someone who is worried that they may not make 270K+ going forward.

Yes my stock has dropped by 50% from its 52 week high. It stings. But it doesn’t affect my life at all. I made sure that I could live off of my base pay - and still max out my 401K.

Rising interest, rent house prices all increasing. There's no stability. With pay decreasing it's further out of reach

Welcome to a recession. You either wait it out or take less pay if you are desperate. Better to have some job than no job, yeh?

Surely you saved during those years of 270k tc

Also now your skills and experience are more relevant to your salary.

Back to measly $200k for you!!

Seems like most (if not all) of the top tech companies are also on hiring freezes.

Corporate america is literally millions of positive, and unemployment is very low.

It’s a drop in the ocean. There are millions of programming jobs out there.

Did meta lay off productive ICs or just recruiters and similar?

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