this post was submitted on 29 Oct 2023
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This is the best summary I could come up with:
Tech companies have laid off nearly 245,000 workers this year alone, per tracker Layoffs.fyi, and Silicon Valley heavyweights like Meta and Salesforce have led the pack, each culling thousands of jobs apiece.
“As the labor market has softened over the past year…some regrets are inevitable,” Aaron Terrazas, chief economist at Glassdoor, tells Fortune.
Salesforce laid off about 10% of its workforce earlier this year, but now CEO Marc Benioff is encouraging those people to apply to fill its 3,000-plus open roles.
As for Meta, after laying off about a quarter of its workforce, jobs are open again, and the company has even constructed a specialty “alumni portal” for boomerangs looking to cut the line.
“I know if you get PIPed out or fired you are basically added to a ‘do not hire’ list but what happens with a layoff?” the poster wrote, referring to performance improvement plans.
“Rehiring employees means saving on recruitment costs, onboarding, and training, and they bring the benefit of newfound knowledge from their most recent employment experience,” Ryan Wong, CEO of software firm Visier, wrote on LinkedIn last year.
The original article contains 694 words, the summary contains 183 words. Saved 74%. I'm a bot and I'm open source!