Large layoffs in tech companies
January 27th, 2023 | 
Author: 
1. Several big tech companies are laying off a large number of tech workers due to the weak economy which may soon enter into a recession.
a) Google will retrench 12,000 workers, representing 6% of the workforce.
b) Meta (Facebook) will lay off 11,000 workers, representing 13% of its workforce.
c) Microsoft will lay off 10,000 workers, representing 5% of its workforce.
d) Twitter will lay off 3,000 workers, representing 40% of its workforce.
2. The workers that are laid off by these tech companies are mostly engineers and developers who earn high salaries. How will a large number of laid off workers affect the economy and the laid off workers?
3. Someone observed that these laid off workers enjoyed high salaries during the past years. They are likely to have sufficient savings and may be able to ride through several months of unemployment until the economy recovers.
4. Some of them might have taken two jobs to earn two full incomes. They were able to do two jobs as they were not closely monitored while working remotely at home.
5. However, some people said that many of these highly paid workers might have made heavy commitments to purchase an expensive house or car, and will have difficulty to meet the loan payments.
6. The scale of the job cuts appear to be quite large, and may have a serious cascading impact on the economy.
Tan Kin Lian
Posted in 
Most of the “TRASH” will land in Singapore with the courtesy PAP policy.
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So,job cuts coming.
Good,see if arrogant youngsters look down on older sgs anymore.
Be prepared to be replaced as well
We welcome fake angmoh FTs,then Indian and pinoy FTs.
Oh 4th day CNY,while waiting for my turn at an OCBC Bank branch in Punggol,saw a youngster bullying an elderly man.
The ill-mannered youngster scolded vulgarity at the elderly man and stupidly cursed in a loud voice the elderly man’s mother to go and die?!
How stupid,the elderly man ‘s parents no more around.
The elderly man retorted and said to the arrogant youngster,curses to yourself!
The elderly man then slowly walked away.
And,to think that ONG YE KUNG said he prefers to incorporate COMMUNITY RETIREMENT HDBs with normal falts so as not to isolate the elderly sgs.
Our ministers must open their eyes wide when they go walk-about.
Many youngsters show no care and even disrespect to elderly sgs in reality.
The minister is dreaming.
Very few youngsters are caring,go see how youngsters rush to get seats on MRT trains just so to play digital games on their mobile phones.
Isolation?
Elderly sgs prefer safety and peace.
Youngsters dont even show respect to their parents and teachers.
Good students from RI /RJC casually scold vulgarity as well.
This is not story-telling.
The minister thinks these days are still same as when he was in school.
Be realistic.
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Anything woke turns to shit, including jobs.
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PAP strategy of “all in” tech sector start to fail now when tech sector lay off workers. But PAP never fault itself and admit mistake. PAP always copy economic strategy from global elite, WEF and other elite and rich people. Tech sector strategy is also one of the copy strategy, now copycat fail. China elite do tech, Singapore also copy; now tech strategy start to fail with tech companies laying off workers, never admit mistake.
PAP has no own strategy to develop Singapore strength and address Singapore weakness, always follow the money and depend on external environment and global rich business direction. PAP only listen to rich people and elite, never develop businesses to cater for the poor and Singapore needs. Every five to ten years, PAP always change strategy, from computer programming to banking to biotech to now tech innovation to green. Now what happen to the international banking hub? has Singapore become Switzerland of the world? What famous computer program were invent by Singapore? Any world class standard biotech patent or invent by Singapore which rock the world? None. Once strategy fail, they cover up and new strategy start to cover the failures. The switch of strategy causes many people to lose their career and money invested in studies and company.
PAP billions dollars budget every year to pump so much money in PAP strategy which has no good result. Failure strategy change new ones always, never admit mistake. PAP always generously give billions of incentive and subsidies money to big businesses and rich people using their strategy like banking, biotech and tech. Then become very harsh to the poor and needy when come with money. What happen to these taxpayers’ money to rich people when they do not create good result? Where have the money gone to?
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Why worry? Singapore will continue to create ‘good jobs’ for foreign talent with nowhere else to go.
Come to think of it, the laid off ex-employees no longer able to pay the mortgage also your concern meh? People go bankrupt every day.
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Latest news from Tik Tok-”https://vt.tiktok.com/ZS8DkSht4/”
Ukraine President Zelensky has been captured by Russian forces !
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Singapore must be beaming with a big smile.
All are welcome. Singapore needs all these foreign talents. Come, come, we have good paying jobs for you. Singaporeans don’t have talents.
So all come, pleeze.
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Tech workers are not “highly paid” but are grossly overpaid to do tasks anyone can be trained to do.
They have nothing exceptionally extraordinary that you would call talent.
These HRs praised their hirees to an extent that it squandered their limitless budget that bleeds into their profits.
I hear Tech workers in some social media companies are paid as much as $7K a month doing almost nothing daily in expensive offices that are equipped and decorated like a mess of a resort style for juveniles.
Take a look at Twitters office.
I understand why Elon Musk was naturally furious.
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Better to build more local tech company.
Don’t put too much reliance on big tech…
First to retrench when time is bad.. pure business consideration.
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@Don’t Skive
Ah… Elon Musk, teh richest man in the world recently revealed that he has injured himself after taking a booster (took a week to recover, felt like dying). Even his cousin also has Myocarditis after taking the mRNA vaccine.
Wonder if he will be suing the mRNA pharmas or not?
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@rohanis
I agree.
What you said is what goes on in reality.
Hope walkabouts become less fake.
Instead of pre-arranging walkabouts,MPs and ministers and top civil servants should really go WALK WALK LIKE ORDINARY sgs.
They will be shocked by the REAL picture.
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He will die soon. I am not cursing him I am simply extrapolating from known symptoms after Upsizing.
Play stupid games win stupid prizes.
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There is great difference between Maximi$ation and OPTIMIsATION.
We need to pause n ponder whether we have maximi$e the use of tech beyond optimum level.
Too much of a good thing is good for nothing,so i read on a blackboard those words wisely chalked by an anonymous.
Optimum is much better than MAXIMUM or IS THIS COUNTER GREED?
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@Harder Truths
Yes yes, the prognosis for those with Myocarditis is that MOST do not live beyond 5 years.
Since he is so freaking loaded, why not do the rest affected victims a favor and sue the pharmas to expose their lies, since 10 generations his wealth also cannot finish spend liao.
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…”many of these highly paid workers might have made heavy commitments to purchase an expensive house or car, and will have difficulty to meet the loan payments….”
….”Home owners facing ‘double whammy’ of higher home prices and rising mortgage rates: DPM Heng…”
So the HYPING by REAL ESTATE industry including property agents is going to DESTROY many lives.
It looks good while the music is playing; everybody looks very ‘clever’.
FOMO..FOMO…FOMO….can be self full-filling to bubble up the property market…for a while.; esp with construction delays.
Until, the inevitable bursting of the bubble.
High-paying jobs are in Tech—many are on 2-year contracts.
Imagine your HDB/Housing loan is on 30-year tenure and your salaried-job on 2 year contract.
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Tech is just a fad!
It will soon pass us by! Hard work stays, YES?
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coe continues to rise. so pap asks, wtf are you sinkies talking about when we the pap people continue to increase our S$ via coe.
taxes continue to increase. so pap adds, wtf are you sinkies moaning about when we have even more S$ now since we have raised GST and have also raise HDB property tax.
pap concludes, since we have so much more S$ in 2023 than we can ever spend in 2023, we shall take the opportunity to increase our S$m salaries since we have not officially raised them for some years.
sinkies, if ever they understand what we are saying, shall bang balls and poke holes for their stupidity in voting pap.
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This gov look at the rich spending, COE, property prices, etc., and conclude the people are rich. Therefore, can tax the poor more. Of course, tax the poor to help the poor.
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Now I understand why PAP tried so hard to block TKL from becoming President.
TKL has the talent for spotting “talking points”.
But TKL support CCP more than the Global Rule-Based Order.
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Remember the dot-com era? Less than a decade every thing collapsed!
For a cyber-Tech companies it is easy to start up. Just a server and some computers and a company is up and running. Hence, it is easy to close, no big investment in machineries and equipment.
These tech companies depends mainly on human, easy to hire, easy to fire!
So those employees working in these companies, it better to ask for higher pay, because the shelf life is very short!
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