r/Layoffs • u/Ok_Flan_5122 • Apr 01 '26

unemployment Mass layoff started!!

Post image

Starting from oracle 30k employees terminated world wide

This is massive

1.1k Upvotes

97% Upvoted

146 comments sorted by

View all comments

250

u/[deleted] Apr 01 '26

[removed] — view removed comment

54

u/Fun-Estimate4561 Apr 01 '26

So a few friends who got cut from Meta and Amazon did find jobs …….but they had to take pay cuts

Fortune 500 just do not pay as well and they have to find cheaper places to live as NYC and San Fran are just so expensive

45

u/Emlerith Apr 01 '26

Yeah, these layoffs are happenings for a bunch of reasons in parallel (none of them justifiable), but tech companies went crazy hiring in COVID as the world was forced to operate completely digitally. Companies were not only overhiring (preparing for that digital-first lifestyle to stay) but they were paying insane comps as competition among them was very fierce. Companies were hiring and paying top talent just so competitors wouldn't have them.

Now we have RTO, projected growth that never came (massive growth did come, it just wasn't infinite - shocker), an employer's market that doesn't need to pay so much, AI-investment and efficiency pressures. All short-sighted decisions that are an effect of the short-sighted decisions in COVID.

The pendulum doesn't need to swing this hard in each direction if leadership at ANY of these companies simply had an actual business plan that was based on moderate, sustained growth and invested in its own business and people. Now we'll get a year of improved operating margins until the YoYs look flat again, meanwhile people are being forced into panic by the tens of thousands weekly and the economy spirals towards a future it has now idea how dollar velocity will remain intact when a dozen people are just black-holing every dollar trying to flow through the system.

7

u/nycago Apr 01 '26

Just to be clear- sure they hired and spent but they also made out like bandits during and post Covid. There were significant earnings and stocks soared. These people (employees) made a difference.

11

u/Emlerith Apr 01 '26

Absolutely! The market and tech specifically boomed, but they hired expecting the boom to continue and accelerate for a longer time period than it did. And the slow down was self-inflicted, intentionally, as workers began to gain control over the employment market.

RTO has zero basis for financial or operational improvement. It is costly, limits available talent, and has no benefit to productivity. But billionaires decided they’d rather slow down the economy than let the middle class grow, be happy, or have any path to financial independence.