The balance of power in the tech industry is changing.

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“The employer … was out of the table, paid [salaries] Probably too high or out of range, companies can hire four or five people when they only need two, ”said Bill Macharge, founder of San Francisco-based Talent House Employment.

However, the technology industry and the wider economy have slowed down as inflation, rising interest rates, a recession, and a Russian war hit Ukraine. A wave of highly employed technology companies, from Netflix (NFLX) To Coinbase, he announced his dismissal in recent weeks. Many others are also moving to reduce costs, with Uber (UBER), Elevator (LYFT), Snap (SNAP), Twitter (TWTR) And Apple (APL) Plan to delay hiring or pause.

They don’t hire more people, they are more careful, the interview process takes more time; [compensation] Macharge works primarily with beginners.

“I think it’s back to some concrete numbers,” he said, adding that the current decline would return to pre-epidemic stages. “I thought the correction was going to happen. It had to happen. Now we don’t know how long it will last.”

Silicon Valley encourages a good ending.

For some tech workers, this can be a blow – not just how easy it is to get a high-paying job, but also how much they benefit with management by pushing conditions for certain workplaces.

Senior engineers with experience in major technology companies may still dominate the labor market, but the decline may ensure that technology workers get what they want, whether office benefits are in place before or during a pandemic. In the event of a pandemic, corporate executives have the right to work wherever they wish.

During a technological breakthrough over the past decade, “Employee Competition has created a collection of disney-esc experience among high-tech companies,” wrote Bill Gurley, a prominent silicon Valley Venture capitalist Bill Gurley, former investor at Uber. Twitter line. “For employees who only know this world, dismissing or cutting costs (or asking them to come into the office) is a direct heresy,” he said.

Now, the billionaire executives of some of the world’s largest technology companies have had to hire or send out their employees – perhaps to take a more aggressive approach.

“There may be a lot of people in the company who shouldn’t be here,” Meta CEO Mark Zuckerberg told staff during a Q&A session last week. “I think some of you may decide that this place is not for you and that it is a matter of choice. By agreeing with me.
Tesla CEO Elon Musk issued an ultimatum just weeks before announcing his dismissal last month – employees who do not come to the office for at least 40 hours a week should leave the company in the wake of the policies of many technology companies. Including Twitter agreed to
Returning to the office is one of the issues facing technology employers and employees.

However, Y-Vonne Hutchinson, co-founder of the organization, said the rise in labor unrest and the willingness of their employees to defend their interests – including their level of comfort – could not be reversed overnight. Inclusion Consulting Organization ReadySet.

“The demand for technology and knowledge workers is still global, and there is still a shortage,” Hachinson said. “So I don’t think workers who don’t want to go back to that area will go.”

In fact, the decline in the technology industry could have far-reaching implications for technology workers fighting for the right to work remotely, according to Nicholas Bloom, a professor of economics at Stanford University.

“For some industries, such as banking, the recession gives more power to management to force their workers to return to office. Tech seems to be going the other way,” he said. “Most technology companies are currently providing what they need to their employees, which is in the office two days a week.”

Unemployment is on the rise in the summer of Crypto.

But long-distance work can be a double-edged sword for many American technology workers, especially in places like Silicon Valley, so companies can use it to reduce costs further.

“As we enter the recession, technology companies are tightening their belts by reducing office space and hiring cheaper workers outside the big cities,” Bloom said, noting that countries such as India and Mexico are destined for foreign investment.

Harley Lippman, CEO of Genesis 10 Technology, says that when a trend starts, it is more likely to hire contractors than permanent employees because of the convenience of companies. “Work still needs to be completed,” he said.

In the end, no matter what, it is clear that technology professionals need to work hard to find significant course correction in their industry.

“We’ve seen candidates take offers and not in the new company. That’s what happened,” Macharg said. “I don’t think we see that kind of thing.”



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