Big Tech Layoffs In Progress!

Microsoft. Google. Amazon. Apple. FacebookMeta. Twitter. What do all these companies have in common? They're big tech, and since last year, they have been engaging in massive layoffs. Ostensibly, this came about because they all massively overhired in preparation for a tech boom that did not come to pass. And now that reality has hit, these companies are jettisoning employees like it's going out of fashion.

Microsoft has announced huge cuts. So has Amazon. And if you recall me discussing the situation at Twitter, that was just the tip of the proverbial iceberg.

Getting dumped by Facebook.

Google and Meta have not been slacking in that department either. Sundar Pichai and Mark Zuckerberg, respectively, went on record to say, that they "take full responsibility for this decision"  and take "full responsibility for the decisions that led us here". I'm not sure what "full responsibility" here entails, but OK. A lot of that vaunted "full responsibility" going around. Google's severance packages seem pretty great, so that's something.

What does all this mean for the tech sector in Singapore?

Well, for starters, big tech offices in Singapore are also cutting back on hiring. Fresh graduates dreaming of getting a start in big tech will probably not be realizing those dreams anytime soon. Other than that, this changes very little.

Tech is still booming. Companies both big and small, across all industries, all need tech and those that aren't recently-started outfits are going into a process of digitalization. It's no longer a luxury; the fact that tech is pervasive in many areas of life, has turned it into a necessity. The pay may not be quite the same, and the value-add on the CV isn't all that sexy, but opportunities are there.

Tech is everywhere.

People need to remember that tech is not just big tech; it's everywhere. Finance. Logistics. Healthcare. Entertainment. The possibilities are endless. Tech professionals who let go of this perception that career success only means working in big tech, will get on just fine. As for the rest? They'll sort themselves out, or show themselves out.

Personally...

When I was a young web developer, like many others, I dared to harbor dreams of one day making it into big tech. The closest I ever got was being an agency contractor to one such firm. Looking at the way things are now, perhaps that's for the best. This is not to gloat at the misfortune of those who have been laid off, but to marvel at how well I've been thriving in spite of not "making it". The grass is always greener on the other side of the fence, but in all honesty, I can't complain.

Would my life have been far more interesting if I had succeeded in being part of the movers and shakers of the tech industry? Perhaps. I'll never know.

Dreaming about
big tech.

I do know that, notwithstanding the generous severance packages, I'm probably in a better position than those who are in limbo right now. Sure, they have big tech on their resumes and that's always a plus. But how would that benefit them? Like, using it as a bargaining chip into another big tech company which is probably also laying staff off? They could apply at smaller outfits, but even if they were willing to take that hit in both remuneration and status, what company would risk taking on employees who are used to "bigger" things?

So many questions.

The takeaway

It's not the end of the world. Not even close. It's not even the end of the tech industry.

Demand for tech is not going down, but as far as big tech is concerned, the demand was grossly overestimated in the first place. And now that the growth has been found to be not as great as initially projected, the layoffs are taking place to cut costs. Nothing to be alarmed about. Unclench those buttcheeks!

Don't be evilunemployed,
T___T