IT Layoffs: Twitter, Facebook and now Amazon, what's the reason behind the one by another layoffs from these companies?
IT Layoffs: A programmer or coder is able to write the best code of his life only once, this is the biggest problem of the IT industry. Once a code is written, the employee writing it is technically no longer of use to the company.
Twitter remained in the headline because of it's continuously layoffs, Big companies like Meta and now Amazon have also joined the trend of layoffs. 10 percent of Facebook employees got layoff notice on Wednesday
According to the companies layoffs being continue to reduce expenses due to the decline in advertising revenue. Mark Zuckerberg told his employees that the social media giant is going to change their future plans by laying off employees. 10 percent of 87,000 employees of Facebook had been laid off and Meta also owns Instagram and WhatsApp.
What the reason behind the one by another layoffs, are the layoffs going to end in the future or are they going to be continue for a long time?
After massive layoffs at Twitter by world's richest man Elon Musk, The news has came that some of those employees have been asked by the company to come back. However, rather than abruptly sacking employees in Twitter, Meta has asked employees to leave with advance notice.
Not only Facebook and Twitter, employees of the entire IT industry are getting layoffs
The aim of the companies behind the layoffs is to increase the number of users as well as rational use of energy and resources as the social media users change the way of interacting on the platform.
Companies hire thousands of engineers every year
Tech companies around the world hire thousands of engineers every year. Everything we do and see on the Internet is made possible by a code. Social media companies need good codes all the time to increase their customer base, and that is why they hire the best programmers and engineers available in the market at high salaries. This is the secret of high paying jobs in the tech industry.
Most programmers are unable to give their best but there is also a negative side of this coin. A programmer or coder can write the best code of his life only once, this is the biggest problem of the IT industry. Once a code is written, then the person who wrote it is technically no longer useful to the company, that is, it becomes unnecessary. Ultimately the company has to take a decision to throw them out. Some researchers have claimed that with the help of neural networks (technologies such as block chain and artificial intelligence) and natural language processing, the coding process will completely eliminate the need for humans in the future
The round of layoffs will continue in the midst of the ongoing volatility in the market
There is no doubt that news of layoffs in IT companies will continue to pour in amid the ongoing uncertainty in the market and fears of a recession, however, there is definitely an upside in digital advertising figures once new products like Facebook's Metaverse take shape.
There will be improvement and this will stop the retrenchments looks like it's a guess.Overall, JP Morgan analysts said in a note to their clients on October 4 that they believe that the online advertising environment remains volatile, with weekly volatility.