Incoming RECESSION?

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Comments

  • E Double UE Double U Senior Member Member Posts: 2,175 ■■■■■■■■■■
    @TechGromit - I get your point, but don't think people should ever count on stability under any circumstance. I, along with thousands of others, was laid off from a large (99,000+ employees) multinational company because they offshored our work to countries with a cheaper labor force. I was there for over six years while others a decade or two. I recall the comfort many had being with such a large company for so long and passed up on external opportunities for reasons like you have listed then still ended up being let go in the end. 

    If your main message is for people to exercise caution when changing employers then I agree. Recession or not, it is anyone's best interest to perform due dilligence while job seeking and take more than salary into consideration. But if your main message is to stay put out of fear then I wholeheartedly (and respectfully) disagree. 

    Just my $0.02

    FYI - I recently joined a big tech American company and they are still hiring like crazy. 
    Alphabet soup from (ISC)2, ISACA, GIAC, EC-Council, Microsoft, ITIL, Cisco, Scrum, CompTIA, AWS2022 goal(s): CRISC, AWS Certified Cloud Practitioner"You tried your best and you failed miserably. The lesson is, never try." - Homer Simpson
  • volfkhatvolfkhat Senior Member Member Posts: 1,022 ■■■■■■■■□□
  • JDMurrayJDMurray Certification Invigilator Surf City, USAAdmin Posts: 12,844 Admin
    Sounds like the makings of a great "buy" opportunity for Amazon's stock. The question is when to buy? Maybe just stick with dollar cost averaging for now.
  • TechGromitTechGromit Ontario, NY Member Posts: 2,151 ■■■■■■■■■□
    I was there for over six years while others a decade or two. I recall the comfort many had being with such a large company for so long and passed up on external opportunities for reasons like you have listed then still ended up being let go in the end. 

    No job is absolutely guaranteed to be recession proof from layoffs, but in general larger companies have more resources and access to resources (raising money by selling stock) than a smaller employer would to weather a downturn in the economy.  
    Still searching for the corner in a round room.
  • volfkhatvolfkhat Senior Member Member Posts: 1,022 ■■■■■■■■□□
    edited November 2022
    JDMurray said:
    Sounds like the makings of a great "buy" opportunity for Amazon's stock. The question is when to buy? Maybe just stick with dollar cost averaging for now.

     :D:D
    Hardly.

    AMZN is laying off AHEAD of their most profitable time of year.
    They know what's coming.


    Don't bother DCA until after Q4 Earnings come out in January (at the earliest).
    We still have Lower Lows to go.
    <3<3
  • JDMurrayJDMurray Certification Invigilator Surf City, USAAdmin Posts: 12,844 Admin
    edited November 2022
    volfkhat said:
    We still have Lower Lows to go.
    <3<3

    You sound happy about that. Is a possible beginning of the end of Capitalism and Western civilization something to feel giddy about?
  • volfkhatvolfkhat Senior Member Member Posts: 1,022 ■■■■■■■■□□
    JDMurray said:
    You sound happy about that. Is a possible beginning of the end of Capitalism and Western civilization something to feel giddy about?

     :D:D
    Who's fear mongering now?



    Can't a guy just be excited about a Stock Market SUPERSALE??
    <3<3
  • JDMurrayJDMurray Certification Invigilator Surf City, USAAdmin Posts: 12,844 Admin
    volfkhat said:
     :D:D
    Who's fear mongering now?

    It was actually sarcasm
  • E Double UE Double U Senior Member Member Posts: 2,175 ■■■■■■■■■■
    volfkhat said:
    JDMurray said:
    Sounds like the makings of a great "buy" opportunity for Amazon's stock. The question is when to buy? Maybe just stick with dollar cost averaging for now.

    We still have Lower Lows to go.

    LIMBO :-)

    YARN  Limbo low now How low can you go  The Simpsons 1989 - S20E05  Comedy  Video clips by quotes  f71fe540
    Alphabet soup from (ISC)2, ISACA, GIAC, EC-Council, Microsoft, ITIL, Cisco, Scrum, CompTIA, AWS2022 goal(s): CRISC, AWS Certified Cloud Practitioner"You tried your best and you failed miserably. The lesson is, never try." - Homer Simpson
  • E Double UE Double U Senior Member Member Posts: 2,175 ■■■■■■■■■■
    JDMurray said:
    volfkhat said:
    We still have Lower Lows to go.
    <3<3

    You sound happy about that. Is a possible beginning of the end of Capitalism and Western civilization something to feel giddy about?
    Possibilities GIFs  Tenor
    Alphabet soup from (ISC)2, ISACA, GIAC, EC-Council, Microsoft, ITIL, Cisco, Scrum, CompTIA, AWS2022 goal(s): CRISC, AWS Certified Cloud Practitioner"You tried your best and you failed miserably. The lesson is, never try." - Homer Simpson
  • volfkhatvolfkhat Senior Member Member Posts: 1,022 ■■■■■■■■□□
         You sound happy about that. Is a possible beginning of the end of Capitalism and Western civilization something to feel giddy about?

    Possibilities GIFs  Tenor

    :D:D  
    CAN'T WAIT!
  • volfkhatvolfkhat Senior Member Member Posts: 1,022 ■■■■■■■■□□
    2023...


    I never really care for these "ODD" number years
     :D:D 


    But just to keep it interesting....  

    Any Predictions?

  • JDMurrayJDMurray Certification Invigilator Surf City, USAAdmin Posts: 12,844 Admin
  • beadsbeads Senior Member Member Posts: 1,525 ■■■■■■■■■□
    JD;

    As both a senior solutions designer working on billion dollar a year clients and as a business executive, will give you a couple of overreaching insights.

    Looking at things at the client's budgetary level and my own group budget will tell you that significant reductions in hiring and shifts are in store for 2023. We will be hiring far less while most of my/our clients are significantly shifting monies from security back into platform engineering, legal for GRC and IT Ops as DevSecOps takes on a new global role. Basically, I see the 2023 recession to be mild to moderate as we retool clients of all sizes and figure out what we really need from security next. My prediction is that we will see smaller dedicated security departments as everyone takes back a piece of the security responsibilities. Or if you like security is failing and as one business exec recently told me: "Security has failed to do what they said they could do and I am pissed..."

    Yes, a recession is now or about to be upon us as business needs to take a breather and shed some excess. Its normal and this is no different than any other recession.

    - B/Eads
  • volfkhatvolfkhat Senior Member Member Posts: 1,022 ■■■■■■■■□□

    My Linkedin feed seems anecdotally heavy with  IT Layoffs this week.....

    more to come!!
  • JDMurrayJDMurray Certification Invigilator Surf City, USAAdmin Posts: 12,844 Admin
    volfkhat said:

    My Linkedin feed seems anecdotally heavy with  IT Layoffs this week.....

    more to come!!
    Misery loves company!
  • UnixGuyUnixGuy Are we having fun yet? Mod Posts: 4,503 Mod
    Same, a friend of mine lost his job at Google as laid off 12,000 people


    Microsoft also had lay offs. Probably correction of the hiring madness that happened 2 yrs ago.


    The world of business:

    - Let's outsource everything......oh bad idea lets insource everything.....nah let's outsource again......oh no it's expensive now....repeat

    - we have so much work, talent shortage! let's hire.......nah we don't have enough work, let's do lay offs......oh no more work is coming, .talent shortage again........repeat


    :p
    Certs: GSTRT, GPEN, GCFA, CISM, CRISC, RHCE

    Check out my YouTube Channel!

  • E Double UE Double U Senior Member Member Posts: 2,175 ■■■■■■■■■■
    Most of my LinkedIn feed is the same. Internally at AWS it is business as usual though. At least for now. 
    Alphabet soup from (ISC)2, ISACA, GIAC, EC-Council, Microsoft, ITIL, Cisco, Scrum, CompTIA, AWS2022 goal(s): CRISC, AWS Certified Cloud Practitioner"You tried your best and you failed miserably. The lesson is, never try." - Homer Simpson
  • volfkhatvolfkhat Senior Member Member Posts: 1,022 ■■■■■■■■□□
    Yep  

    Part of me wonders if it just 'feels'  worse than it really is.

    Goog, MS, AMZ    might be skew'ing this just a bit.


    then again, my friend was an IT Recruiter who just got laid off at her job...   so this recession may be legitamate.


    ~more to come.
  • JDMurrayJDMurray Certification Invigilator Surf City, USAAdmin Posts: 12,844 Admin
    In all of the "tech" layoffs presently happening, I'm not seeing a percentage breakdown of how many IT people are actually being laid-off. It's one thing to shed engineers, programmers, consultants, extra middle-management, and physical plant support people, but we at TE are mostly concerned with the impact this right-sizing trend is having on IT and cybersecurity employment specifically.
    If anyone sees any recent numbers about IT layoffs then please post the link(s).


  • UnixGuyUnixGuy Are we having fun yet? Mod Posts: 4,503 Mod
    edited January 24
    on the topic of (future) lay offs...found this interesting:


    The interesting part:

    "

    Double-edged sword

    The topic of AI advancement has long been associated with broader societal concerns that more intelligent automation will cause havoc in the job market. Mr Gates did not shy away from a likely reality where knowledge-based, white-collar jobs would go as a result of the greater sophistication of AI.

    Recent job losses at Google, Microsoft and Amazon –  where 12,000, 10,000 and 18,000 roles respectively were axed – have been ascribed to AI replacing staff in some quarters, but Mr Gates said this was not yet the case.

    “AI isn’t, as yet, having an effect on the job market, but it will have an effect because it is always a question of what happens if you make things less expensive,” he said.

    He said there were obvious benefits from generative AI in the medical profession, and across other industries where a lot of information needed to be understood.

    He said AI could easily help a doctor write prescriptions and explain medical bills to patients, or also assist in both writing and understanding legal documents.

    “It is going to be a much better tool than in the past,” Mr Gates said.

    “Word processors will do a bit with your grammar and your spelling, but if you want to summarise a document or draft a new one, they weren’t that great, and that’s all changing.

    “As you make a doctor’s job more efficient [with AI tools] it doesn’t mean you need less doctors, but there are some areas where things change, for example when radial tyres were invented, people didn’t drive more, so we have less tyre factories.

    “Over time that labour went off and did other jobs, but now there will be a lot of angst about the fact that AI is targeting white-collar work.”

    "


    Certs: GSTRT, GPEN, GCFA, CISM, CRISC, RHCE

    Check out my YouTube Channel!

  • JDMurrayJDMurray Certification Invigilator Surf City, USAAdmin Posts: 12,844 Admin
    edited January 24
    I don't believe anything "Dr. Bill" says anymore. He only talks up topics that will increase his own investments, such as his urgent plea for more COVID-19 testing--to support his own investment in medical testing businesses.
  • volfkhatvolfkhat Senior Member Member Posts: 1,022 ■■■■■■■■□□
    edited January 25
    UnixGuy said:
    on the topic of (future) lay offs...found this interesting:

    ...

    “Over time that labour went off and did other jobs, but now there will be a lot of angst about the fact that AI is targeting white-collar work.”


    Nailed it!
    :D:D

    Fortunately, i'm planning to be outta the Rat Race in another 5 years.

    Hope i can hang on!

  • E Double UE Double U Senior Member Member Posts: 2,175 ■■■■■■■■■■
    volfkhat said:
    UnixGuy said:
    on the topic of (future) lay offs...found this interesting:

    ...

    “Over time that labour went off and did other jobs, but now there will be a lot of angst about the fact that AI is targeting white-collar work.”


    Nailed it!
    :D:D

    Fortunately, i'm planning to be outta the Rat Race in another 5 years.

    Hope i can hang on!

    Great! One less rat to race against. One down, billions to go 😇
    Alphabet soup from (ISC)2, ISACA, GIAC, EC-Council, Microsoft, ITIL, Cisco, Scrum, CompTIA, AWS2022 goal(s): CRISC, AWS Certified Cloud Practitioner"You tried your best and you failed miserably. The lesson is, never try." - Homer Simpson
  • volfkhatvolfkhat Senior Member Member Posts: 1,022 ■■■■■■■■□□
    P. reventing
    E. lected
    L. eaders
        (from)
    O. wning
    S. ecurities  &
    i. nvestments

     :D:D  
    Brilliant marketing!!

    https://www.businessinsider.com/josh-hawley-nancy-pelosi-stock-trading-ban-bill-name-2023-1
  • JDMurrayJDMurray Certification Invigilator Surf City, USAAdmin Posts: 12,844 Admin
    I wish to remind people of Pres. Obama's STOCK Act of 2012 that attempted to achieve the same thing and ended up being smoke-and-mirrors to confuse and pacify the anti-governmental-insider-trading pundits.
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