Tech Layoffs and don’t lose faith
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(Update 01-20-2023) #Google to lay off 12,000 people — read the memo CEO Sundar Pichai sent to staff and noted Warren Buffett and Charlie Munger’s comments on layoff.
(Update 01-06-2023, posted at my linkedIn as well): The writing is on the wall for many tech companies regarding recent (or upcoming #layoffs). So please don’t get caught off guard. In a capitalist system like the US, even non-for-profit bow to the #wallstreet (in broad terms): thinking about the bonding rating from Moody’s Corporation, etc. Something to keep in mind: 1) Have an emergency cash pile (in a high-yield savings account, ideally). 2) Get a resume and perhaps more important skills marketable and up-to-date, so that in case something happens, we can get the next job quickly (for the sake of healthcare or cash flow). 3) Perhaps even better, bonus points, thinking or working on cashflow (cash income) outside the day job, could be a side gig such as Uber/Lyft, photography,or #youtuber etc. #prepForRecession #tightenSeatBelt #cashFlow #sideGig
(Original) The tech sector started layoff, hiring freeze or internal move freeze (Amazon came to mind) recently. My worst memory on layoff was on Oct 11, 2001. I was a one year tenure software engineer at a CAD / PDM software company in St. Louis, and I was on H1B visa. On that day we had 16% to 18% layoff across the board, due to two reasons. 1) The company I worked for just bought a similar size company and we had some expectations that a layoff would come (the CEO did give a bit heads up); 2) 9-11 happened on Sept 11, 2001, and it made the US economy worse. I survived the layoff, thanks to the God and my boss(es). It’s the not first time nor the last time I experienced layoffs at the places I worked. 大概二十年前(2001年10月11日），我在的公司裁员16%到18%，这个是我经历最吓人的一次。那次裁人有两个原因，我们公司去买了一家公司；9-11 对经济也有打击。
Anyway the most important two things I would like to mention:
- If your personal financial situation is good enough, don’t rush out to job search after the layoff. Assess, regroup, before hit the market again.
- If you don’t have the luxury of a bench time, for example, you may be on a H1B visa, and need an offer quickly. I think it still helps to be prepared, both mentally and technically. Here are some advices I have for job search and be prepared for folks who currently have the jobs.