The accounts do not come out. The economic and social environment is worrying, and with runaway inflation, companies are beginning to hit the brakes, at least in terms of hiring. Everything was promising at the beginning of the year, but recent events have caused a radical change that has caused the search for new professionals to freeze in the Big Tech segment.
Google will not hire in the next two weeks. A statement that they have been able to access in The Information and that is mentioned in TechCrunch reveals how a manager has indicated that the company will pause new hiring for two weeks and “will not make new offers” until that period ends. The processes in progress, yes, will not be affected.
Sundar Pichai has already warned that Google will “slow down the pace of hiring for the rest of the year” and wants the company to be “more entrepreneurial”, focusing on hiring in critical positions. It is not the first and probably will not be the last to take this type of action.
How the Big Tech hiring market has changed in just 5 months.
I notice a trend. pic.twitter.com/ey2rYf7z6f
— Gergely Orosz (@GergelyOrosz) July 14, 2022
Meta warns that difficult times are coming. The company formerly known as Facebook also announced hiring cuts of at least 30% this year. “If I had to bet, I’d say this is one of the worst recessions we’ve seen in recent memory,” CEO Mark Zuckerberg said in an internal statement.
His commitment to the metaverse was being too ambitious, so he will have to cut his aspirations in a division that has become a money-burning machine.
Uber, Apple, Twitter, Amazon… The same situation is going through other companies. For Uber, hiring is now a privilege, at Amazon they have warned that they were hiring too quickly and on Twitter they have also reviewed their plans and a reduction in hiring is proposed except for critical positions. Manzana? Idem.
And many more. GitHub is communicating to some candidates that their processes have also been abandoned and its parent company, Microsoft, has also curbed hiring in several divisions. PayPal, Nvidia, Lyft, Coinbase, or Snap have also decided to slow down in this section in the face of a “macroeconomic environment that has deteriorated faster and faster than we expected,” said Evan Spiegel, CEO of the latter, for example.
At SalesForce they are just as concerned, and at Netflix, where results continue to be poor, layoffs have even begun to try to clean up accounts. Tesla is also planning layoffs. In Meta, by the way, things are getting even uglier, with the company encouraging bosses to report the worst performers.
From the Big Renunciation to the Big Freeze. After the pandemic, the labor market underwent a unique revolution with the Great Renunciation: workers resigned looking for better balance and more flexibility, but things seem to have turned against them: those who had left their jobs will now find it more difficult to sign for some of the these big tech companies. The phenomenon also infected Spain, and those decisions of the Big Tech are also beginning to have an impact in our country.
Image | Clem Onojeghuo