How working for Big Tech lost ‘dream job’ status

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Despite strong earnings from tech giants like Alphabet and Microsoft, layoffs are still impacting the tech industry. According to Layoffs.fyi, there have been over 263,000 job losses in 2023 and more than 75,000 so far in 2024. Professor Jeff Shulman from the University of Washington’s Foster School of Business notes that companies are now prioritizing profit over growth, leading to continued layoffs becoming the new normal.

Despite these mass layoffs, the labor market remains robust, with the U.S. economy adding 303,000 jobs in March, surpassing estimates. Tech layoffs have also led to a decrease in job applications from tech majors to internet and software companies.

The instability caused by mass layoffs has caused workers to question whether a job in the tech industry is still a “dream job.” Eric Tolotti, a senior partner engineer at Snowflake who was laid off from Microsoft, advises aspiring tech employees to keep their options open and not fixate on one company.

For more insights on tech workers’ sentiments and advice for aspiring Big Tech employees, watch the video.

Despite strong earnings from tech giants like Alphabet and Microsoft, layoffs are continuing to impact the tech industry. Layoffs.fyi reported over 263,000 job losses in 2023 and more than 75,000 so far in 2024. This shift towards prioritizing profits over growth has become the new norm, leading to uncertainty and instability for workers.

Despite the ongoing layoffs, the overall labor market remains strong with the U.S. economy adding 303,000 jobs in March and the unemployment rate dropping to 3.8%. However, the tech layoffs have prompted many workers to seek opportunities outside of the tech industry, as stability becomes a major factor in job decisions.

The erosion of the tech industry’s appeal has led workers to question whether pursuing a job in tech is still the ideal “dream job.” As a result, aspiring tech workers are advised to keep their options open and be realistic about their career goals. The video discusses tech workers’ sentiments, considerations for aspiring Big Tech employees, and more.

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