It\u2019s clear that the market is experiencing a seismic shift and we need to react accordingly.<\/em><\/p>Dara Khosrowshahi<\/cite><\/blockquote>\n\n\n\n How official is all of this? Well, many big tech companies have now made public announcements that they are scaling back their hiring and recruitment efforts, after going through many months of tech worker shortages not too long ago.<\/p>\n\n\n\n Meta\u2019s CFO David Wehner spoke to employees last week about the fact that they will now reduce their hiring targets for 2022. This, he emphasized will affect nearly every department. This is based on a memo<\/a> obtained by Insider.<\/p>\n\n\n\n At the same time, CNBC managed to get access to an email<\/a> in which Uber\u2019s CEO Dara Khosrowshahi addresses employees by saying any hiring ad recruitment efforts will now be treated as a \u201cprivilege\u201d. <\/p>\n\n\n\n He further added – \u201cIt\u2019s clear that the market is experiencing a seismic shift and we need to react accordingly.”<\/p>\n\n\n\n Finally, if you go by the information which the industry layoff tracker Layoffs.fyi is providing, you will see that this year 2022 there have been at least 66 tech companies with layoffs.<\/p>\n\n\n\n As with most cases in this world, there isn\u2019t just one cause behind all of this. First of all, as mentioned earlier: fast-growth phases have led many companies to hire more people than they actually needed or certainly more than they could sustain paying for if the economy slows down.<\/p>\n\n\n\n However, an underlying pattern right now seems to be also fears or at least caution of a possible recession.<\/p>\n\n\n\n After hitting a 40-Year High, inflation has cooled off. Of course, it has cooled nowhere near as much as it would need to in order to give us some confidence. For now, let\u2019s hope for a soft landing with the much-dreaded recession.<\/p>\n","protected":false},"excerpt":{"rendered":" If you have not noticed yet, it looks like the economy might be slowing down. This seems like the perfect opportunity for companies to look at their expenses, overheads, inefficiencies, etc. Some of these companies are now looking into understanding how labor heavy they are. They are wondering if by any chance they have hired… Continue reading Why Have Big Tech Companies Stopped Hiring?<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":857,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[21,22,20,12],"_links":{"self":[{"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/posts\/826"}],"collection":[{"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/comments?post=826"}],"version-history":[{"count":0,"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/posts\/826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/media\/857"}],"wp:attachment":[{"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/media?parent=826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/categories?post=826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sanfordroyce.com\/wp-json\/wp\/v2\/tags?post=826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"\"](\"https:\/\/sanfordroyce.com\/wp-content\/uploads\/2022\/05\/inflation.png\")
What\u2019s causing all of these layoffs and hiring freezes?<\/h2>\n\n\n\n