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Gergely Orosz
@GergelyOrosz
Replying to
@GergelyOrosz
This chart is only a few days old and I already have to update it, putting Google in the red and part of Microsoft as well (GH). I expect more freezes to follow across Big Tech. Amazon is the only place still not slowing: but they have high attrition, much of it self-inflicted).
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Gergely Orosz
@GergelyOrosz
How the Big Tech hiring market has changed in just 5 months. I notice a trend.
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How the Big Tech hiring market has changed in just 5 months.
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Gergely Orosz
@GergelyOrosz
The Google freeze is for 2 weeks, for now. My guess? Because of this: Teams were rushing to fill HC and this is a break so leadership can take away headcount from where they don’t want hiring. Expect a HC crunch (which Google can handle easily). From
@Pragmatic_Eng
on Thursday:
I talked with employees working at Google on how they feel about this memo. Most were not surprised; after all, Google did a similar hiring slowdown in April 2020, shortly after COVID-19 lockdowns started. Back then, the company braced for a downturn in ad spending, as it saw all travel ad spending evaporate in a matter of weeks. The mood of those I’ve talked with at Google is neutral, most people are interested in what the details of the slowdown will be. Managers at Google I talked with are worried about one thing: can they fill their existing, already allocated headcount, or will it be frozen or taken away?
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Gergely Orosz
@GergelyOrosz
Context on GitHub: several engineers interviewing are getting messages like: “We decided to pause hiring for this role at the moment. The decision was made in light of economic conditions & our intention to be cautious & strategic about the roles we continue to hire for."
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Gergely Orosz
@GergelyOrosz
A hiring freeze means most roles are not hiring / previously open HC frozen or removed. Strategic & key roles are (usually key backfills, key hires, very senior levels etc). Twitter and Meta have a hiring freeze for months and they also follow this approach.
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Gergely Orosz
@GergelyOrosz
“Why should I care if Big Tech slows hiring, I don’t work there.” Yes, Big Tech is one of many employers overall. However, they pull the top of the market. This pull will be gone. Simply put: it will be much harder to get higher offers as an employee than before.
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Gergely Orosz
@GergelyOrosz
Replying to @JFrenchTweet @NaijaBabii and @thechiccodes
Exactly right @JFrenchTweet. The top of the market for compensation is pulled by Big Tech, VC-funded high-growth startups & hedge funds (the latter hires relatively little vs the former 2 groups). Top of market is cooling down: removing compensation pressure across the market.
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Gergely Orosz
@GergelyOrosz
A longer article on what is going on with the market:
The Big Tech hiring freeze. Google, GitHub and Azure put hiring freezes in place on almost the same day. Apple slowing hiring. I previously shared how some of Apple’s organizations are slowing. More than two weeks later, Bloomberg reported the story. Meta: midyear engineering calibrations from the front seat. Exclusive details from the inside on how the midyear PSC (performance summary cycle) is progressing. Do fears of a “more intense” performance cycle and the worry of more PIPs, hold up? Bad news and internal controversy at Stripe. Stripe saw a valuation drop and a crackdown on large Slack rooms. I talked with software engineers at the company to get a handle on these.
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The Pragmatic Engineer
@Pragmatic_Eng
How the Big Tech hiring market changed in 5 months
The latest The Scoop is out, covering what seems to be the start of the tech winter. Big Tech hiring freeze, Apple slowing hiring, Meta PSCs, controversy at Stripe and more. Read the free issue here: newsletter.pragmaticengineer.com/p/the-scoop-bi Full issue for subscribers: newsletter.pragmaticengineer.com/p/the-scoop-19
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Gergely Orosz
@GergelyOrosz
Replying to
@ed_dev_
I am the source through talking with several software engineers who all had their interviews cancelled due to this freeze (at varying stages of the process from starting out to waiting on offer).
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