I'm unsure how much more of the constant news of hiring freezes and layoffs in tech I can take without going bonkers. I know things like this happen occasionally but I don't remember that it was ever this bad for so many companies - including the biggest ones - at once. I just want to be able to not think about losing my job 24/7.
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The pandemic accelerated outsourcing. It taught all CEOs that remote work in tech is feasible. And any job that can be done remotely can be outsourced to cut costs.
It should have also taught them that middle management is utterly useless and that having a massive budget for travel is completely unnecessary. If Lenovo were serious about weathering financial storms better, they'd start trimming the real fat.
Unfortunately, the hiring freezes and layoffs are no likely to end soon. 2022 may seem bad, but 2000 and 2009 were worse. The yield curve has inverted. A recession is likely in 2023, with more cost-cutting.
The pandemic accelerated outsourcing. It taught all CEOs that remote work in tech is feasible. And any job that can be done remotely can be outsourced to cut costs.
Many companies need technical work but don't outsource it. But you must look outside the tech industry.
If you worry about layoffs, Lenovo is the wrong place to work.
I'll add to that - if you want to be treated well, grow a career, and not be bullied by entitled yes-men, Lenovo is the wrong place to work.
If you worry about layoffs, Lenovo is the wrong place to work. They have them sometimes twice a year. Look at some old news articles.
“Lenovo began making job cuts Thursday morning….” They happen every year whether they make the news or not.
There are stable places to work. Lenovo is not stable. It is a low margin business that is at the mercy of economic downturns.
Wow, how long have you been in the tech industry? Continual layoffs have been the way of life since the early 90s or before.
With global outsourcing jobs are created then moved offshore.
Enjoy the global economy!!
This is so dang funny. You are in the tech layoff world and worry about layoffs? This is the mantra for Lenovo (add IBM, Cisco, Microsoft, and others). I have to admit, getting laid off was the best thing for me. My advice is to start looking BEFORE the layoffs hit because they are coming. The way they are done is so simple to see. I could draw a map for all of the companies:
- White male near or over 50
- Anyone making more than 50% in their pay range
- Anyone hired within the last 2 years commanding high salary due to low work force
- If your lips are not permanently brown marked by management.
Get out of tech companies. They're mostly slave labor camps who try to squeeze every ounce of productivity out of you to maximize profits. If you're technical, there are many job openings available across many different industries.