#NewHiresWorriedAboutLayoffs: Hey there fellow new hires! π As I’m gearing up to start my SWE career at a stable mid-level company, I can’t help but feel a bit jittery about the possibility of layoffs. I’ve seen all the news about layoffs in the job market and it’s got me wondering – should we really be worried? π€
#JobMarketInstability: The company I’m joining has a good track record of no layoffs, especially in the engineering department. But with all the uncertainty in the air, how can we truly know if we’re safe from layoffs as new hires? π
#StockPriceImpact: Does the company’s stock price hold any clues about potential layoffs? πΌ What are some other ways to gauge the likelihood of being laid off as a new hire? Let’s dive deeper together and figure out if our fears are justified. π¬
What are your thoughts on this, fellow new hires? Let’s discuss and ease each other’s nerves. Engage with polls, quizzes, and emojis to keep the conversation going! π£οΈπ¬ #LetsTalkAboutLayoffs
Everyone should be prepared for layoffs at all times. These companies are not our friends and we cost them money. They will drop us the first chance they get.
I was laid off after three months at my first job last year. My case was because my company was acquired (after they said no one was losing their jobs), though, so circumstances were different than most layoffs happening these days.
I also consider this, having just started in January but tbh, worrying doesn’t really do much. Just try to learn as much as possible so that if you are actually laid off someday and need to look for another job, you at least have something to show for your previous job
Is there a way of gauging the likelyhood of dying? Probably but nobody knows until it happens so.
If it happens, it happens. There’s nothing worry about! If you got this job, you can always get another
It *could* happen. But it probably wonβt – a senior principal, principal or senior engineer who wants to take the severance and cost the company a whole lot more will usually be first on the chopping block.
Outside of a few really dumb execs (Elon) and companies absolutely bleeding.. Follow the money. Youβre really cheap compared to those engineers.
100% yes, and I agree it’s bullshit. We once hired our intern full time, then laid him off 3 months later because (stock market). Sounds bad until you realize that gave him a (90 day?) clock to find a new sponsor or get deported and have to move away from his (still student) wife.
As somebody who graduated into a recession many years ago, I developed the mindset of thinking I was going to be laid off in two weeks and kept thinking that way. I used it as motivation to keep my skills up to date and to save as much as I could in case the worst happened.
Stock price actually is a good indicator. The two public companies i got laid off from both had cratering stock prices. Obviously the stock cratered because of some public information.
Every hire should be.
Everyone is likely to be worried about layoffs, and many companies even if they don’t explicitly state it follow a “last in first out” policy for layoffs.
Newer hires do tend to be more effected by layoffs, unless the company is trying to jettison employees with higher comp/better benefits.
Your company sounds like it will be ok, there’s no point in worrying about something that may not happen and that you can do little to prevent.
Just make sure you keep your skill set marketable and have a safety cushion and you’ll be ok.
Have a 6 month emergency fund in a high yield savings account and chill.
Fed is saying inflation is coming back under control which could mean a rate cut. If they do that then layoffs will start getting less frequent.
Unfortunately there is always a chance.
I mean you can look at how the company is doing and be aware of economic news but you can never be sure. In my case I was working for a local real estate company. The signs where there (high interest rates, less houses being sold than the years prior) but I was still blind sided by the lay off.
Truthfully I was waiting until my 2nd year to apply for another role.
As a new grad you will probably be one of the lowest earners.
In this industry you should always have 6mo-1yr expenses saved up in some liquid form, and you should always be interview-ready. Do one or two leetcodes per week, understand the fundamentals of file systems, networks, and databases. Keep a journal of your accomplishments.
Once you get there, you donβt need to βworryβ about layoffs because if it happens, you are gonna be okay.
It can take a few years of diligence to get there but itβs well worth the peace of mind.
You really shouldn’t be worried. Worrying won’t put you in a better situation or help in any way. Just do your thing and if you get laid off, update the resume and apply for jobs.
If you’re feeling anxious about layoffs that’s probably a sign to boost your cash savings. You’ll eventually have enough cushion to where layoffs won’t seem so scary.
If the company will start laying people off, it doesn’t matter who you are, you can be affected. New hires don’t get any favourable treatment here, quite the opposite, because you are more likely to be on the bench or underperforming for the first few months
Company known for stability is good, don’t worry too much in this case
1. don’t panic
2. new hires are cheaper to hire than your experienced talent so you tend to not backfill positions at all or go with less XP to reduce your overhead in the MBA everyone is fungible body handbook. If they cancel all travel, get rid of consultants and really start digging into expenses, it’s likely not a great sign.
2A Layoffs depend on keeping the company alive . If a division is just a bust and there is nothing that can be salvaged from it then that likely may get shuddered. Things don’t happen that quickly so pay attention to the reports internally and to shareholders/press externally.
The only thing that’s under your control is increasing your skillet to become more highly paid and in demand.Β That’s what you should focus on, not the possibility of being laid off.Β Rather, focus on the concrete steps you need to take to get that next much better opportunity.
If it happens, it happens. Prepare yourself financially and you’ll be fine. That means living way below your means, acquire minimal debt. Once you have the ability to go several years without income at all, you feel a lot more free and less worried about the whims of leadership.
Will it be fun to do that? No. You’ll be watching everyone you know spending as much or more than they make, but if times get tough, they’ll be stressed and you won’t be. Recognize that tech has always been a fundamentally unstable field, and that you’re likely to get laid off at some point. Plan around it, and it’s no big deal.
It happens but depends on the company. Plan out exactly what you’re going to do if you get the boot, and then try not to worry about it anymore.
There’s so much to learn at the start of your career – I’m still going through it. Best not to worry about stuff that you can’t control. You have a job – that’s better than a lot of folks out there.
All about business unit and bottom line. If youβre on a unit that is tied to revenue generation youβre much safer than if you are not.
You got the job enjoy and embrace it, nobody knows nor can control what tomorrow will bring so make the most out of today.
The reality is that everybody is at least a little bit worried about layoffs. It’s justified.
Layoffs are a lot less scary once you realize you are in demand elsewhere. That doesnβt happen immediately in your career. Also, save up and be prepared. Itβs easy to not stress a layoff when you have enough money to support yourself for a long amount of time.
It could happen. But you canβt affect management decisions in any way, so make the most of your first job. The more you learn, the better your chance of surviving layoffs or getting a new job if they affect you.
It really depends on the top management. Your manager and your manager’s manager may like you. But the director or executive level will do whatever the fuck they want when they want Γ la Elon Musk. Trust your gut based on what you here through the grapevine. Usually, conversations with the manager’s manager will give you a better clue, but you’re likely not going to talk to them much unless you’re doing really well or in big trouble.
Meanwhile, all you can do is make as much progress at your role as you can. Have a portfolio, an updated resume at all times, and build your savings. Then, the worry will subside over time.