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310 sats \ 3 replies \ @bitcointerest 15 Nov 2023 \ parent \ on: Stacker Saloon
I'm assuming it only reached your neck of the woods now because a global recession has been here for months now. When prices rapidly increase then you need to know somethings brewing and its not coffee.
Ever since the interest rate hikes it's been harder to acquire funding. Initially this resulted in hiring freezes, but more recently I'd say that companies have been taking things a step further and shedding non-essential activities (usually R&D).
These have been large layoffs of several hundred people that also impact local communities. It's rough out there!
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I can't speak to what you're seeing, but a related factor in my industry is the advent of AI. Most companies are only beginning to figure out how to use it, but a lot of executives really do see it as an opportunity to shed dead weight and bullshit jobs. This isn't happening in a vacuum, obviously, but it is absolutely a factor.
It wasn't just people playing culture war: Elon laying off 80% of Twitter, or whatever, did not pass unremarked in the lofty executive chambers.
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I can see that. There are certainly people I know in high paying positions which can, frankly, be automated. Especially within the companies who don't "make stuff" and are more in the business of managing information (such as law, finance).
For myself, AI is a godsend. Our company is too small to hire dedicated software engineers, and I am a mediocre programmer with no formal training who has just sort of stumbled into the field over the years. AI has probably doubled my capacity thus far and I'm still learning how to incorporate it into my workflow. It frees me up for more work in the lab.
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