A month later, tech jobs after tech jobs are announcing their layoffs.
My buddy's job is on the line. He got lucky with the first wave of layoffs. They were offering volunteer packages to quit. While I can not disclosed some inside information, this tech giant is getting bad. How bad?
They are planning to sell their headquarter building and lease it back to themselves, just to get the capital to run the business and to survive. In 6 months, 80% will be laid off and only keeping the remainder of 20% and they will merge with their other building in singapore. Lots of lives will be affected by this. Non of their existing employees know about this. They think that missing the first wave of layoffs and they are good.
IT will be tough on those who never gotten laid off before. If you have been laid off before, you know the stress involved but the first cut is the deepest so you will be alright.
In 6 more months, things may change and companies will re tune their ideas so although I know the inside stuff, I can't make a move to buy or short this one company here. How bad will it be? We just got to wait to see what 2023 will be in store for us. Gosh bless to all.