Overpaid FAANG Employees Are Getting A Harsh Reality Check #TopStory #Tech #Usa #Miami #Nyc #Uk WEBFI👉
Posted On November 22, 2022
For quite some time now, FAANG has been the dream employer for most aspiring engineers and software developers and it’s not surprising why. FAANG blows traditional companies out of the water when it comes to compensation and their perks and benefits are also unmatched. But, over the past several months, the sentiment surrounding the tech industry has changed quite a bit. A significant amount of tech companies have been doing massive layoffs including even Facebook and Amazon. While Apple and Google have yet to do formal layoffs, they too have substantially pulled back on hiring, bracing for an economic downturn. Many of these companies hope that by acting early, they can minimize the long-term damage done to the company and its employees, but only time will tell. In the meantime, we’re seeing tens of thousands of tech workers being displaced, and I doubt they’ll have trouble finding new work, it’s not clear if they’ll be able to get nearly as much compensation. This may end up pulling down much of the inflated silicon valley tech salaries. This video explains the recent tech layoffs and what that means for the tech workforce.
0:00 – Mass Layoffs
2:29 – The Mechanics Of Tech Salaries
5:36 – Shifting Landscapes
8:11 – A Crossroads
10:25 – The Future Of Tech Compensations