Oleg Sadikov’s Post

Googlers critique David's claims AI is responsible for job losses and layoffs. They discuss the data on job openings and hiring trends, the impact of interest rates and venture capital on the economy, and the conflicting levers of government policies. They also examine the factors contributing to layoffs, the inefficiency of layoffs and performance reviews, and the psychological impact on employees. The conversation explores the limitations of current AI technology and the future role of AI in CEO decision-making. Chapters 00:00 Introduction and Podcast Overview 00:31 Critiquing David Shapiro's Video 01:04 Discussion on Job Openings and Hiring Trends 02:30 The Role of the Federal Reserve and Economic Policies 05:03 Examining Layoff Data and Trends 09:24 Influence of Hiring Practices and Acqui-hires 11:13 Nexus of Causality and Simplified Realities 12:35 Future of AI and CEO Roles 14:31 Misconceptions and Conspiracies Surrounding AI 20:30 Openness of AI Companies and Research 24:27 Limitations of AI in Running a Company 27:30 Challenges of AI Models and Architectures 30:57 Influence of AI on Job Losses and Outplacement 35:06 Misconceptions and Exaggerations of AI Impact #aI #openai #layoffs #economy #technologyhttps://buff.ly/4c5bgo3

If the wave of recent tech lay-offs have left you feeling uncertain about the future of your IT business, you're not alone, but here's what we can learn from these layoffs ⬇️   👉Most companies cited 3 main reasons for layoffs:   ❌The need to create a more sustainable company cost culture ❌The need to restructure for long-term growth ❌The introduction of AI   What does this mean?   💡These layoffs, while challenging, do not signal the end of the technology and software industry. Instead, they highlight the need to shift to a more adaptable workforce solution.   💻IT outsourcing is at the forefront of this shift, offering a dynamic solution to the fluctuations characteristic of our current economic landscape.   It is a way to build a future-proof business ⚡️   By embracing outsourcing you can dynamically adjust your business's workforce, tapping into global talent and optimizing costs without sacrificing quality, innovation, or strategic focus 📈   🚀Learn more in our latest blog post - https://lnkd.in/e3Jq4Khj #techlayoffs #techoutsourcing #itoutsourcing

I hope the trend of layoffs doesn't continue in 2024. I understand that big companies are laying off employees due to: - The rise of AI technology. - Company budget constraints. - Employees' skills do not match the job description. However, every job, no matter how big or small, will evolve according to demands and needs. But that doesn't mean a company should randomly give notice to employees. Give them time to figure things out. Meanwhile, see if you can hire them for something else. 01 If AI is doing its work, see if you need them to handle the AI work. 02 Loyal employees work hard to build a company. See if you can offer them monetary benefits or courses to enhance their knowledge (non-monetary benefits). 03 Consider creating cross-functional teams, retraining for different roles, and offering lateral transfers. I know  - Covid - Country wars - Economic slowdowns and many other factors are affecting our country. But be humane enough to help your workers survive. After all, we pledge that all Indians are my brothers and sisters. Protect their well-being with the best you can do. That's it. PS: What are your views on employee layoffs? Have you come across any steps taken by companies to mitigate the impact? PPS: Follow me Shravan for daily motivation on your feed. #BusinessLeader #Layoffs #Entrepreneur

Tech industry faces seismic shift with 7,500+ global layoffs in 2024. AI integration triggers workforce changes. Navigating the future of work. checkout for more: https://lnkd.in/e6AVxFq8 #TechLayoffs #AIRevolution #FutureOfWork #TechTrends #JobMarket #TechLayoffs

The tech industry's reckoning continues. This list paints a stark picture of the widespread restructuring underway as companies large and small adapt to economic realities, shifting priorities, and the promise and disruption of AI. While layoffs are never easy, they can also signal a refocusing on sustainable growth and innovation. It's a challenging time, but also one ripe with opportunity for those who can navigate the changes and build the future. #TechLayoffs #AIRevolution #InnovationAndGrowth

A closer look reveals that these layoffs are strategic move by tech companies to realign their priorities and invest in the future.

I’m curious: what exactly is “AI talent”? Are we really ready to replace humans with technology? Or is this just a message to signal that as a business leader, you’re on top of the latest trends? When you want to understand the tech layoffs, you have to look at the numbers. Here’s what they say: - the large tech companies overhired during the pandemic. In an earlier post I showed that some of them doubled their workforce. Leaders wanted to secure tech talent or thought growth would be exponential. - during the pandemic a lot of tech startups were funded while money was cheap. They too added lots of workers. Now that these companies need the next investment, they find investors are looking at fundamentals again. Losing your job through no fault of your own is painful, and I’m fully aware of that. But let’s not forget that average tenure at tech companies is about 2 years or less. Many people leave, even without a layoff. In other words, when people leave and are not replaced, does that even count as a layoff? And more importantly, is AI really that sophisticated so that “AI-talent” can easily replace these leavers? Or are business leaders, just as with layoffs, sending a trendy message that looks a bit different when we peel off the layers? Let me know if your new colleague is an AI-talent. I would really like to hear what’s it like to work with them 😉 #futureofwork #ai https://lnkd.in/ei6u95HW

Amid the increasing prominence of AI, what factors are contributing to the substantial number of tech layoffs observed in 2024? According to Layoffs.fyi, an online tracking platform, the data as of January 15 reveals that 48 tech companies globally have initiated workforce reductions, affecting over 7,500 employees this year. Notably, industry experts posit that the rationales behind this current wave of layoffs differ significantly from those that precipitated workforce reductions in the years 2022 and 2023. #techwinter #observation https://lnkd.in/gtMegcJa

Take a moment to read this article. Would love to hear thoughts . TL;DR version - Layoffs are often framed as growth strategies, which is inaccurate. - Many misunderstand AI, believing it can replace all tech jobs, but current AI capabilities are overstated. - Investors overspent during economic highs and the AI race, leading to financial strain. - Increasing demands from tech workers on work conditions and pay contributed to the layoffs. - Poor decision-making by those in charge, who misunderstood tech and reacted poorly to market changes, worsened the situation. #Layoffs #Tech #AI #JobMarket

Tech layoffs are hitting companies that are doing well financially, with Microsoft and Grammarly among those making cuts despite healthy revenues. This trend serves as a reminder that even successful companies are restructuring to focus on their most pressing goals, including investing in AI and adjusting to new market dynamics. The layoffs are not just about cost-cutting, but about reshaping organizations for the AI-enabled workplace of the future. This highlights the evolving nature of the tech industry and the need for employees to adapt to these changes. #TechLayoffs #AI #ML #BigData #TechTrends