02/02/2023
From now woke Forbes:
The Real Reasons For Big Tech Layoffs At Google, Microsoft, Meta, And Amazon
Bernard Marr ContributorJan 30, 2023,01:57am EST
Between them, some of the world’s biggest tech companies have collectively laid off more than 150,000 workers in recent months. …
So, what is the true reason for these mass cuts that have left tens of thousands (80% of them in the US) out of work? This was what data experts at 365 Data Science attempted to get to the bottom of when they decided to run their own analysis of the figures.
Some of the findings were perhaps not that surprising. It’s known that tech companies — buoyed by record revenues — undertook a hiring spree during the Covid-19 pandemic. Salaries hit record levels as competition raged for the top talent, and the media was full of stories of lavish perks. So, it’s not a shock to find that the median time a recently laid-off employee has been in their role is roughly two years. This could suggest that, in some ways, these cuts represent a winding-back of hiring policies put in place since the pandemic.
More surprising though, was the fact that the median level of experience held by those who were let go is 11.5 years. So, it’s not necessarily true that these are all junior workers with little experience who could be quickly replaced or possibly even have their roles automated. One possible reason for this statistic could be that longer-serving employees tend to receive higher salaries, and cutting them could help businesses meet their financial targets.
However, it is interesting to note that the roles and job functions most affected were within HR, which accounted for 28 percent of all layoffs. There are two possible reasons for this — firstly, it follows that if companies are laying off staff, they will also be cutting back on recruitment, and less recruitment means less need for HR staff.
A second, though perhaps just as relevant reason, however, is that HR is an area where some functions are being replaced by automation. …
The data collected by 365 Data Science also shows that a narrow majority of the staff who were let go (56 percent) were female.
Presumably, women were a minority of employees so 56% is a pretty big number.
This is worrying, given that the tech industry has spent much of the last decade attempting to address the gender imbalance already present within the field — particularly within technical and engineering roles. It doesn’t exactly send out a great message to potential new female hires that, as well as a pay gap and a lower likelihood of progressing into senior roles, they will have to content with a greater chance of being let go.
My vague impression is that a lot of firms, such as even Netflix, are waking up to what a huge hassle the woke tend to be.
This is a content archive of VDARE.com, which Letitia James forced off of the Internet using lawfare.