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Google confirms it just laid off around a thousand employees - The Verge (www.theverge.com)
submitted 2 years ago by to c/technology@lemmy.ml
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[+] -17 points 2 years ago (1 child)

Is the bubble finally bursting? I think CEOs finally got pissed off that all those dev salaries didn’t go straight in their pockets. Is anyone looking for a car mechanic? I only have personal experience but I’m expecting ten times the salary because I got addicted to my lifestyle.

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  • [–] 22 points 2 years ago (1 child)

    This isn't about dev salaries at all. It's about cheap investment money, you got huge amounts of funds with a very low interest rate.

    Now the interest rates are up, money lending is no longer cheap. Suddenly all those companies actually need a profit to run, which they don't have.

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  • [–] 24 points 2 years ago (1 child)

    Google has literally been reporting billions of net profit every quarter.

    This is about appeasing shareholders. The capitalist class hates that tech employees have been able to command decent salaries and has been striving to push back for a while now.

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