29 Jan On PIPs, Quiet Firing, etc.
I was recently interviewed by the Daily Silicon Valley to talk about the tumult occurring in Big Tech. (With that said: these shenanigans will NOT remain isolated to Big Tech or Silicon Valley. We’ve already witnessed layoffs and quiet firing bleeding across other industries.)
Where do you think the job market is headed for 2023?
That is definitely the million-dollar question. I believe right now, we are in a transitional period. It’s like part of 2022 is still with us yet we are also watching these storm clouds grow darker and more ominous. I most assuredly believe that The Great Resignation for white collar knowledge workers is over and has been for several months now. What comes next? One of my biggest concerns is that we could see something like The Great Recession / Global Financial Crisis 2.0. I hope I am wrong on that, but I’ve seen too many shadows of ’07 and ’08 to ignore it. The Fed has been quite clear in saying that it wants to see unemployment go up and wages stagnate, so . . . connect the dots. I don’t believe the thesis is buried.
You can read the full interview here: https://dailysiliconvalley.com/interview/pips-layoffs-and-quiet-firing-whats-happening-these-days/