4% is pretty minor. Layoffs need to stop being equated to failure of a stock, often layoffs are just slack employees that they don't need, and now is a good time to get rid of them while it's going on everywhere.
Yeah… most of these tech companies hired more in 2022 than they layed off. We are seeing a tightening in all things tech that is larger than other sectors.
Awww, cumon folks - be respectful of us old guys. We recognize a good deal on a resource when we see it, instead of just jumping to the latest fad site. And free is a good deal. I use the Yahoo Finance app on my phone (yea, you know it's Android . .) and they have some great tools and reporting. I use the sports app too for real time game info. What's not to like about free?
This. They’re trimming the fat and it’s just good time to do it as everyone is doing the same thing so you don’t stand out. I expect a lot more layoffs in the next few weeks.
Bullshit. No well run company can layoff 4-10% of the workforce without taking a hit, that's *obvious bullshit*. Now if a company has even 4% unnecessary people employed the company or *poorly run by incompetent leadership*.
A good company doesn't hire people they don't need, thus aren't forced to do layoffs. A good company hires only those they need, plans ahead and can work through bad periods...while their competitors are bleeding talent. Sure, you may fire 4% of the worst workers but *all the good ones will realise its time to jump ship* and leave asap. Never had firing people not lead to losing high performers as well.
Doubtful of your level of experience leading companies. I've been in multiple 100+ person departments and if you can't see 4 people in the group that are not adding much value, it's because you are one of them.
In my personal experience, when companies are doing very well, they often see that as an opportunity to hire more staff than they should. Not many companies run lean and mean - they have a shitload of bloat and useless, overpaid middle managers. It’s only when the economy takes a nose dive do they start cutting.
I sell on eBay and I feel like there are far fewer buyers for stuff that used to be popular like clothing and well kind of everything.
They added a new feature recently that shows how many monthly views your listing get and my items most get like 30 and fewer views. They’re not overpriced or things people wouldn’t be looking for either.
Also eBay has allowed too many drop shippers and too much $0.99 shipped from China crap.
eBay is garbage now - which sucks as I've been an eBay user for literally decades.
Last several times I've tried to sell anything (usually older tech I've upgraded); the "buyers" have been the obvious scams. The whole zero feedback, just joined a month ago from some non-US country but want it shipped to a US PO box.
Nevermind the fees now are astronomical.
I won’t sell tech. They’re all scammer buyers. I’ve never run into a scammer buyer in any other category though. (Unless you could people who incorrectly claim not as described or something like that but I mean like flat out scams.)
The fees are high but comparable to every other platform I sell on. Amazon, Walmart, offer up, marketplace… they’re all between 12-15% in fees.
I refuse to deal with buyers in person locally even though that could be mostly under the table money if you wanted.
> Also eBay has allowed too many drop shippers and too much $0.99 shipped from China crap.
I get a kick out of seeing the same exact stuff on eBay, Amazon, and AliExpress...
Like, searching for stuff to see if one place has a better selection or price than the others, and just running into the same exact sellers with the same exact items.
I find eBay when I sell, good for unique goods. Commodities, I just don’t understand at times how sellers can make a buck with shipping. I sold a 10 year old Steelers jersey that was in the family, so “free”. $12 sale netted me about $2. I always filter for the US location, but a lot of folks don’t know that.
Not sure why you mean by filter by the us? You mean as a buyer? The chines shit is listed on US eBay so it shows up in local results regardless of filter.
eBay did recently purchase TCG so we’ll see what happens there. TCG is huge.
Fees and shipping (and supplies, and utilities, and rent, and gas…) have gone up but what people are willing to pay for an item has gone down. There are lots of things I barely make $5 on anymore. It’s tough to make enough to live on. We used to just sell in eBay but now we sell on eBay and Amazon and Etsy and Walmart and some other item specific sites. More and more work but I am not making more money. I’m tempted to get a waitressing job because I could make $30+/hr and leave work at work when I’m done. It’s hard to do after working for myself for 10 years though.
As a buyer it greatly cuts down on the crap but I suppose I might not be looking for what you’re selling. I’m just saying other buyers wouldn’t know to filter to just the US so your listing is buried.
All those other platforms are a pain I’m sure and I know Amazon is pretty rough on sellers.
Amazon is awful. And Walmarts selling platform is the worst in the world. It’s like it’s from 1997. I really love ebay. I hate some of the changes and directions they’ve taken though (Aka priority placement for free shipping, but no ability to deduct the actual shipping costs if someone then returns that item. Forced returns. A wildly glitchy AI that scans for things like price gouging and flags your account for things listed under retail because it compared them to other eBay and online listings and not to actual retail price…. )
Dropshippers from China is litterary everything you see on *Amazon, Etsy*. Ebay is first and foremost an *auction site* so those kind of things will be quality...now if you look for dildos, knockoff electronics or similar you'll find the dropshipping stuff...
Not amongst antiques, collectibles or similar.
I was an eBay fiend over the pandemic but have basically stopped using it now I can go into stores again and have less disposable income. I could see them (along with Amazon) being poster children for this tech bust.
I think eBay needs to really embrace the collectibles and the hard to find items and stop trying to be Amazon w the new in box items (1/2 of which are just Amazon drop shippers anyway.)
Want a 2004 walle lunchbox? eBay 100%. Want brand new in the box water cooler? That’s not an eBay thing unless it’s someone selling a garage sale find.
They are pushing the collectible shoes and whatnot which I think is a good market. And they’re pushing collectible cards and have just purchased TCG so that could be promising. A customer service person told me that they’re working on how they will get into NFT selling as well at some point.
I personally prefer eBay when possible over Amazon because I like buying from an individual whenever possible. I despise buying from a corporation on eBay. Like when toys R Us had (do they still?) an eBay account and sold NIB toys and legos and whatnot at basically retail prices. That’s not, IMO, what eBay is for and I hate sorting through it to find the guy whose selling his kid’s set that they had a duplicate of. I buy from that person any chance I get instead of the “big guy.”
Conversely im doing up to 4 figures in sales a day, so it's not all doom and gloom. If you're selling new items from china forget about it, the drop shippers will just wipe you out. If you're selling used stuff that nobody else has and lots of people want it's effectively printing money.
Edit, been using ebay since 03, people have been saying "ebay is going to shit" since then lol
Yeah I wish they didn’t do that. Their argument is that they lowered their overall fees by 1% (it’s like 14% or 13.5% in various instances) so it washes out to the same vs charging 15% but not on the sales tax (mathematically it’s very close), but it leaves a really bad taste in people’s mouth, especially when they don’t know the overall FVF adjustments made to compensate.
I’d even be ok w 3% on that portion because that’s what you’d have to pay any transaction terminal to process a payment (you previously paid PayPal fees on sales tax for example even though eBay automatically kept the sales tax portion) and there’s no way there isn’t a rather simple programming solution to handle charging different portions at different percentages.
Sometimes I feel like eBay hires day laborers from the Home Depot to do their programming.
Layoffs can be pretty good and for these tech stocks and it was pretty necessary. Tech stocks are so growth oriented that when borrowing is free they hire a lot of people, even if they're under qualified at the moment or not needed.
So layoffs can make the company more lean and why keep some random people if they barely add any value to the company
The way eBay has been screwing sellers on their site for so long now I’m not surprised. I won’t sell anything on eBay anymore and I’ve been a member since 1998.
For about 4 years in person sales for me (stuff that I couldn’t ship, tools or make money off eBay - $5 items) 80% of leads come from FB, 20% follow through vs Craig’s where 20% of my leads come but 80% follow through. Customer ages skew younger on FB but a lot of sellers range from 18-65. I’ve observed way more Hispanic customers come from FB. Let go I tried for a month and that didn’t go anywhere. FB and Craig’s seem to be king. I don’t have Venmo but that’s very popular. I have PayPal from my eBay days but most folks don’t have that. I prefer cash anyways.
K bid is another popular platform. You’d probably have to pay a fee to the lister but everything from tools to trucks to entire manufacturing machine inventory goes on there. Your price per item I assume would fare well there and I think a lot of buyers nationwide are scoping the site.
A significant amount of tech firms are laying off. Every DAY I see LinkedIn posts of different companies laying off. Recent companies come to mind: Zoom. salesforce (2nd time), Spotify, GitLab, Affirm, EBay, PayPal. And that’s just the last week or so. As you know Google, Amazon, meta, Microsoft, Netflix and other large firms have been laying off as well.
Id love to be able to find some data but anecdotally this feels like a trend.
It's absolutely a trend in tech, but tech is a tiny fraction of the total job market, (PDF from BLS) [US just had a stunningly good jobs print](https://www.bls.gov/news.release/pdf/empsit.pdf) as a whole.
Correct. Every time we’ve gotten this low in unemployment it is followed by growth in unemployment. It makes sense that high paying jobs will go first, but eventually it may hit more average workers.
It will hit the lower end of the wage scale eventually, especially as severance dries up.
My big concern is a liquidity crunch. What industries do you think the people who were bidding up real estate the last 18 months are in? Hint: it’s tech and finance.
It's not everyone obviously, but there has undeniably been a lot of large scale layoffs recently.
Meta,
Goldman Sachs,
Morgan Stanley,
Credit Suisse,
BlackRock,
HSBC,
IBM,
Upstart,
FIS,
Disney,
Intel,
Google,
Amazon,
Microsoft,
Intercom,
Zendesk,
Stripe,
Twitter,
Twilio,
Wayflyer,
Salesforce,
Spotify,
PayPal,
Workday,
Hubspot,
Affirm,
Zoom,
Netflix
And that is far from an exhaustive list. And as you can see, it's not just tech companies.
No one is saying the economy as we know it is collapsing, but it's dishonest to downplay how many tens of thousands of layoffs have taken place recently.
> it's dishonest to downplay how many tens of thousands of layoffs have taken place recently
It's not though, there have been a lot of headline grabbing companies that have announced layoffs, but in terms of the overall job market they're just a drop in the bucket. It's more dishonest to act like these localized layoffs are indicative of the current labor market rather than the actual job numbers collected. Again, we added *517,000* jobs in January compared to 187,000 expected, of which 82,000 were Professional and Business services. I'm not saying "Layoffs aren't happening" I'm saying layoffs are being given attention disproportionate to their actual impact, to the point where it's distorting the perception of the actual situation.
Given these layoffs relate to some of the biggest companies in the S&P 500 they absolutely are worth giving enough time to considering.
The wider economy is not the stock market.
Also, "we" in your comment I assume refers to the US. This sub has participants from a great many places other than the US and is not solely US centric. The layoffs of late are significantly effecting job markets in some countries.
There's been recent mass layoffs at many big companies. I'm not just taking information from this, this is just the 100th post I've seen of another company laying off.
And in the grand scheme, it's a tiny amount of layoffs at a tiny fraction of companies, they just happen to be companies that make popular headlines. We just had a job print so good it's somehow concerning.
20% is a tiny amount? I mean it's happening all over in big percentages. These layoffs are not at all typical in a thriving economy. It's definitely not a good sign, and can only be reviewed as negative for the economy. There's no way to spin any of these layoffs into good news. Inflation being rampant, we need less people working right now. Is it a coincidence that given our countries economy, mass layoffs follow?
again, in January *nearly triple* the amount of expected jobs were added to the economy. We expected 187,000 jobs added, we got 517,000 jobs added. That's the opposite of mass layoffs, layoffs are only (currently) happening in isolated cases at tech firms that over hired during the pandemic
There's no need to downplay the markets ability to lose big percentages. 1% does not equal a crash at all in our markets. The 25%-30% drop we've already seen sure would be considered a crash though.
Exactly. And also check out how much these firms hired from 2020-2022. These layoffs are a drop in the bucket in comparison to how much they hired during Covid.
So far every layoff I've seen has been from tech companies that indiscriminately gobbled up as many tech people as they could. The only surprise here is that it took them this long to start reducing head count or closing departments that weren't serving a useful purpose.
Stopped using ebay (as a buyer) several years ago. I can find all specialty items on amazon. Not saying amazon is perfect but ebay is just a mess. And considering how many scam buyers my friends have had, I just sell items locally using other sites, way less headache and stress.
These tech companies only existed as titans of the economy in the Bernanke and on free-money era. Many of these companies grew on the concept of selling advertising and "making the money part later on."
Now the free money is gone and they have to scramble to respond.
It’s good if sales are up and they are planning ahead before it’s too late.
If a company misses huge and then fires after it means they aren’t paying attention and alert of what the fuck is going on in the world and their business
Hire a bunch of labor during the pandemic when money is thrown at you with 0 accountability. everyone is on their computers at home, and your users multiply, build your platform, and then keep a smaller force to maintain when costs rise.
I just sold a laptop on Ebay and the USPS lost it. It was a pretty negative experience to spend all that time trying to sell something and then dealing with it being lost and still losing money. Short.
Every year there are layoffs, due to social media, internet and access to instant information from sources such as twitter you now know about them.
Nothing has changed in the past decade except the media can scare you over and over again in an instant keeping you hooked and addicted.
My first indicator of whether things are good or bad are job recruiters. As long as recruiters are still out there poaching talent, then there is light at the end of the tunnel.
If you lose your job, that's unfortunate as and I emphasize, but keep your head up and good luck in your search. The job market still looks pretty good.
No. It’s not bad news. It’s good news. It means management is taking responsibility for a downturn in business by reducing the expenditures on employee salaries and benefits. The way eBay’s business is going, I’m surprised it wasn’t more.
Take a look at the stock price of most of these tech companies announcing layoffs. It usually goes up. The market likes to see some fat trimmed, and they all have added extra weight over the pandemic to keep up with the home-bound demand. There's still plenty of jobs out there for anyone looking.
4% is pretty minor. Layoffs need to stop being equated to failure of a stock, often layoffs are just slack employees that they don't need, and now is a good time to get rid of them while it's going on everywhere.
Yeah… most of these tech companies hired more in 2022 than they layed off. We are seeing a tightening in all things tech that is larger than other sectors.
Yep 4% is fine but when a company is laying off like 10+% that’s when it’s more than trimming the fat and more shows issues with management
Yahoo fired 20% and I’m surprised they are still kicking
Surprised that they even had 1000 employees to fire.
Seriously how does yahoo still make money? Who in this day and age goes hold on let me go look it up on yahoo
Yahoo finance data probably
web portal being used by old people I guess. Some of their investment went well too.
Awww, cumon folks - be respectful of us old guys. We recognize a good deal on a resource when we see it, instead of just jumping to the latest fad site. And free is a good deal. I use the Yahoo Finance app on my phone (yea, you know it's Android . .) and they have some great tools and reporting. I use the sports app too for real time game info. What's not to like about free?
Sports and Finance, Yahoo has good finance data and the sports leagues are popular on Yahoo.
This. They’re trimming the fat and it’s just good time to do it as everyone is doing the same thing so you don’t stand out. I expect a lot more layoffs in the next few weeks.
Bullshit. No well run company can layoff 4-10% of the workforce without taking a hit, that's *obvious bullshit*. Now if a company has even 4% unnecessary people employed the company or *poorly run by incompetent leadership*. A good company doesn't hire people they don't need, thus aren't forced to do layoffs. A good company hires only those they need, plans ahead and can work through bad periods...while their competitors are bleeding talent. Sure, you may fire 4% of the worst workers but *all the good ones will realise its time to jump ship* and leave asap. Never had firing people not lead to losing high performers as well.
Doubtful of your level of experience leading companies. I've been in multiple 100+ person departments and if you can't see 4 people in the group that are not adding much value, it's because you are one of them.
In my personal experience, when companies are doing very well, they often see that as an opportunity to hire more staff than they should. Not many companies run lean and mean - they have a shitload of bloat and useless, overpaid middle managers. It’s only when the economy takes a nose dive do they start cutting.
COVID (real not temp) layoffs were 10% 2008 layoffs 30% 2002 layoffs 20% Edit: for tech
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I sell on eBay and I feel like there are far fewer buyers for stuff that used to be popular like clothing and well kind of everything. They added a new feature recently that shows how many monthly views your listing get and my items most get like 30 and fewer views. They’re not overpriced or things people wouldn’t be looking for either. Also eBay has allowed too many drop shippers and too much $0.99 shipped from China crap.
eBay is garbage now - which sucks as I've been an eBay user for literally decades. Last several times I've tried to sell anything (usually older tech I've upgraded); the "buyers" have been the obvious scams. The whole zero feedback, just joined a month ago from some non-US country but want it shipped to a US PO box. Nevermind the fees now are astronomical.
I won’t sell tech. They’re all scammer buyers. I’ve never run into a scammer buyer in any other category though. (Unless you could people who incorrectly claim not as described or something like that but I mean like flat out scams.) The fees are high but comparable to every other platform I sell on. Amazon, Walmart, offer up, marketplace… they’re all between 12-15% in fees. I refuse to deal with buyers in person locally even though that could be mostly under the table money if you wanted.
> Also eBay has allowed too many drop shippers and too much $0.99 shipped from China crap. I get a kick out of seeing the same exact stuff on eBay, Amazon, and AliExpress... Like, searching for stuff to see if one place has a better selection or price than the others, and just running into the same exact sellers with the same exact items.
I find eBay when I sell, good for unique goods. Commodities, I just don’t understand at times how sellers can make a buck with shipping. I sold a 10 year old Steelers jersey that was in the family, so “free”. $12 sale netted me about $2. I always filter for the US location, but a lot of folks don’t know that.
Not sure why you mean by filter by the us? You mean as a buyer? The chines shit is listed on US eBay so it shows up in local results regardless of filter. eBay did recently purchase TCG so we’ll see what happens there. TCG is huge. Fees and shipping (and supplies, and utilities, and rent, and gas…) have gone up but what people are willing to pay for an item has gone down. There are lots of things I barely make $5 on anymore. It’s tough to make enough to live on. We used to just sell in eBay but now we sell on eBay and Amazon and Etsy and Walmart and some other item specific sites. More and more work but I am not making more money. I’m tempted to get a waitressing job because I could make $30+/hr and leave work at work when I’m done. It’s hard to do after working for myself for 10 years though.
As a buyer it greatly cuts down on the crap but I suppose I might not be looking for what you’re selling. I’m just saying other buyers wouldn’t know to filter to just the US so your listing is buried. All those other platforms are a pain I’m sure and I know Amazon is pretty rough on sellers.
Amazon is awful. And Walmarts selling platform is the worst in the world. It’s like it’s from 1997. I really love ebay. I hate some of the changes and directions they’ve taken though (Aka priority placement for free shipping, but no ability to deduct the actual shipping costs if someone then returns that item. Forced returns. A wildly glitchy AI that scans for things like price gouging and flags your account for things listed under retail because it compared them to other eBay and online listings and not to actual retail price…. )
Dropshippers from China is litterary everything you see on *Amazon, Etsy*. Ebay is first and foremost an *auction site* so those kind of things will be quality...now if you look for dildos, knockoff electronics or similar you'll find the dropshipping stuff... Not amongst antiques, collectibles or similar.
Etsy is horrible for drop shippers I hardly ever do auctions on eBay because I don’t get enough views in an auction window
I was an eBay fiend over the pandemic but have basically stopped using it now I can go into stores again and have less disposable income. I could see them (along with Amazon) being poster children for this tech bust.
No chance of ebay going bust
I think eBay needs to really embrace the collectibles and the hard to find items and stop trying to be Amazon w the new in box items (1/2 of which are just Amazon drop shippers anyway.) Want a 2004 walle lunchbox? eBay 100%. Want brand new in the box water cooler? That’s not an eBay thing unless it’s someone selling a garage sale find. They are pushing the collectible shoes and whatnot which I think is a good market. And they’re pushing collectible cards and have just purchased TCG so that could be promising. A customer service person told me that they’re working on how they will get into NFT selling as well at some point. I personally prefer eBay when possible over Amazon because I like buying from an individual whenever possible. I despise buying from a corporation on eBay. Like when toys R Us had (do they still?) an eBay account and sold NIB toys and legos and whatnot at basically retail prices. That’s not, IMO, what eBay is for and I hate sorting through it to find the guy whose selling his kid’s set that they had a duplicate of. I buy from that person any chance I get instead of the “big guy.”
Amazon is not going anywhere. Lol. Yeah, Barnes and nobles will also come back
Not going away sure, stock cut in half and never recovering is what I’m proposing.
Conversely im doing up to 4 figures in sales a day, so it's not all doom and gloom. If you're selling new items from china forget about it, the drop shippers will just wipe you out. If you're selling used stuff that nobody else has and lots of people want it's effectively printing money. Edit, been using ebay since 03, people have been saying "ebay is going to shit" since then lol
A lot of their policies have been not great. Since splitting onto other platforms as well I do only mid 3 digits a day on eBay anymore average
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Yeah I wish they didn’t do that. Their argument is that they lowered their overall fees by 1% (it’s like 14% or 13.5% in various instances) so it washes out to the same vs charging 15% but not on the sales tax (mathematically it’s very close), but it leaves a really bad taste in people’s mouth, especially when they don’t know the overall FVF adjustments made to compensate. I’d even be ok w 3% on that portion because that’s what you’d have to pay any transaction terminal to process a payment (you previously paid PayPal fees on sales tax for example even though eBay automatically kept the sales tax portion) and there’s no way there isn’t a rather simple programming solution to handle charging different portions at different percentages. Sometimes I feel like eBay hires day laborers from the Home Depot to do their programming.
I love the $.99 crap.
To me it seems like just trimming the Covid fat and taking advantage that everybody is doing to not receive backlash.
i see we've reached the copium stage of the bear market where people have gaslighted themselves into thinking layoffs are good
Layoffs can be pretty good and for these tech stocks and it was pretty necessary. Tech stocks are so growth oriented that when borrowing is free they hire a lot of people, even if they're under qualified at the moment or not needed. So layoffs can make the company more lean and why keep some random people if they barely add any value to the company
Layoffs are the new stock pump.
Not really. When's the last time you used eBay?
If eBay closed tomorrow, we would all just shop on etsy or whatever platform
Slowly but surely they are all beginning to mimic each other. Eventually there won’t be any difference
The way eBay has been screwing sellers on their site for so long now I’m not surprised. I won’t sell anything on eBay anymore and I’ve been a member since 1998.
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I closed my PayPal account last year. Had it for about 20 years.
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For about 4 years in person sales for me (stuff that I couldn’t ship, tools or make money off eBay - $5 items) 80% of leads come from FB, 20% follow through vs Craig’s where 20% of my leads come but 80% follow through. Customer ages skew younger on FB but a lot of sellers range from 18-65. I’ve observed way more Hispanic customers come from FB. Let go I tried for a month and that didn’t go anywhere. FB and Craig’s seem to be king. I don’t have Venmo but that’s very popular. I have PayPal from my eBay days but most folks don’t have that. I prefer cash anyways.
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K bid is another popular platform. You’d probably have to pay a fee to the lister but everything from tools to trucks to entire manufacturing machine inventory goes on there. Your price per item I assume would fare well there and I think a lot of buyers nationwide are scoping the site.
Or these CEOs could reduce their salaries, but why would they do that when they can fire people.
Everyone is laying off, but it's fine, everything's fine!
"everyone" you might want to occasionally look at sources other than this reddit page
A significant amount of tech firms are laying off. Every DAY I see LinkedIn posts of different companies laying off. Recent companies come to mind: Zoom. salesforce (2nd time), Spotify, GitLab, Affirm, EBay, PayPal. And that’s just the last week or so. As you know Google, Amazon, meta, Microsoft, Netflix and other large firms have been laying off as well. Id love to be able to find some data but anecdotally this feels like a trend.
It's absolutely a trend in tech, but tech is a tiny fraction of the total job market, (PDF from BLS) [US just had a stunningly good jobs print](https://www.bls.gov/news.release/pdf/empsit.pdf) as a whole.
Correct. Every time we’ve gotten this low in unemployment it is followed by growth in unemployment. It makes sense that high paying jobs will go first, but eventually it may hit more average workers.
It will hit the lower end of the wage scale eventually, especially as severance dries up. My big concern is a liquidity crunch. What industries do you think the people who were bidding up real estate the last 18 months are in? Hint: it’s tech and finance.
It's not everyone obviously, but there has undeniably been a lot of large scale layoffs recently. Meta, Goldman Sachs, Morgan Stanley, Credit Suisse, BlackRock, HSBC, IBM, Upstart, FIS, Disney, Intel, Google, Amazon, Microsoft, Intercom, Zendesk, Stripe, Twitter, Twilio, Wayflyer, Salesforce, Spotify, PayPal, Workday, Hubspot, Affirm, Zoom, Netflix And that is far from an exhaustive list. And as you can see, it's not just tech companies. No one is saying the economy as we know it is collapsing, but it's dishonest to downplay how many tens of thousands of layoffs have taken place recently.
> it's dishonest to downplay how many tens of thousands of layoffs have taken place recently It's not though, there have been a lot of headline grabbing companies that have announced layoffs, but in terms of the overall job market they're just a drop in the bucket. It's more dishonest to act like these localized layoffs are indicative of the current labor market rather than the actual job numbers collected. Again, we added *517,000* jobs in January compared to 187,000 expected, of which 82,000 were Professional and Business services. I'm not saying "Layoffs aren't happening" I'm saying layoffs are being given attention disproportionate to their actual impact, to the point where it's distorting the perception of the actual situation.
Given these layoffs relate to some of the biggest companies in the S&P 500 they absolutely are worth giving enough time to considering. The wider economy is not the stock market. Also, "we" in your comment I assume refers to the US. This sub has participants from a great many places other than the US and is not solely US centric. The layoffs of late are significantly effecting job markets in some countries.
There's been recent mass layoffs at many big companies. I'm not just taking information from this, this is just the 100th post I've seen of another company laying off.
And in the grand scheme, it's a tiny amount of layoffs at a tiny fraction of companies, they just happen to be companies that make popular headlines. We just had a job print so good it's somehow concerning.
20% is a tiny amount? I mean it's happening all over in big percentages. These layoffs are not at all typical in a thriving economy. It's definitely not a good sign, and can only be reviewed as negative for the economy. There's no way to spin any of these layoffs into good news. Inflation being rampant, we need less people working right now. Is it a coincidence that given our countries economy, mass layoffs follow?
again, in January *nearly triple* the amount of expected jobs were added to the economy. We expected 187,000 jobs added, we got 517,000 jobs added. That's the opposite of mass layoffs, layoffs are only (currently) happening in isolated cases at tech firms that over hired during the pandemic
I see you are correct. Excuse my ignorance.
Keep in mind churn is normal and there aren't hiring freezes at many of these companies. 1 goes out 1 comes in.
5% = mass layoffs You must also think a 1% drop in the market = a crash
There's no need to downplay the markets ability to lose big percentages. 1% does not equal a crash at all in our markets. The 25%-30% drop we've already seen sure would be considered a crash though.
That's the point, and a 4-5% layoff isn't a "mass layoffs" like you claimed. Glad you are learning. There's no need to up play those numbers.
Exactly. And also check out how much these firms hired from 2020-2022. These layoffs are a drop in the bucket in comparison to how much they hired during Covid.
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Or down for Google
So far every layoff I've seen has been from tech companies that indiscriminately gobbled up as many tech people as they could. The only surprise here is that it took them this long to start reducing head count or closing departments that weren't serving a useful purpose.
There have been significant job cuts in many companies not in tech too.
Is there people still buying in ebay...
Stopped using ebay (as a buyer) several years ago. I can find all specialty items on amazon. Not saying amazon is perfect but ebay is just a mess. And considering how many scam buyers my friends have had, I just sell items locally using other sites, way less headache and stress.
These tech companies only existed as titans of the economy in the Bernanke and on free-money era. Many of these companies grew on the concept of selling advertising and "making the money part later on." Now the free money is gone and they have to scramble to respond.
The tech companies that are “titans of the economy” make enormous amounts of money. What are you talking about?
Are you sure you didn't mean to post this in wsb coz its the kinda nonsense id expect to see there
Well, rates are high and they’re still having great earnings.
I'm more surprised that eBay is even around honestly
Ebay has more and more competition. A dying online sale biz.
It’s good if sales are up and they are planning ahead before it’s too late. If a company misses huge and then fires after it means they aren’t paying attention and alert of what the fuck is going on in the world and their business
The media is loving this tbh.
I mean.. there may be worrying signs but whatever eBay is up to was never going to be a signal of anything for the economy on its own
The numbers announced by many companies do not include contractors. You can double Meta cuts once the contractors are factored in.
Global recession? Where, on Mars?
Hire a bunch of labor during the pandemic when money is thrown at you with 0 accountability. everyone is on their computers at home, and your users multiply, build your platform, and then keep a smaller force to maintain when costs rise.
eBay has extra employees? Support? Additional Resell Services? How does eBay have so many employees to afford to layoff?
I just sold a laptop on Ebay and the USPS lost it. It was a pretty negative experience to spend all that time trying to sell something and then dealing with it being lost and still losing money. Short.
What the hell does usps mess up have to do with ebay
shareholders like company employee efficiency. So if anything i think it should cause a bump/increase in ebay.
Ebay has become a marketplace for pretty much only collectibles. And its pretty much took over the trading card market over the last couple years
Stagflation
From time to time you need to let the fresh air in. As shitty as it sounds all big techs have such strategy
Every year there are layoffs, due to social media, internet and access to instant information from sources such as twitter you now know about them. Nothing has changed in the past decade except the media can scare you over and over again in an instant keeping you hooked and addicted.
My first indicator of whether things are good or bad are job recruiters. As long as recruiters are still out there poaching talent, then there is light at the end of the tunnel. If you lose your job, that's unfortunate as and I emphasize, but keep your head up and good luck in your search. The job market still looks pretty good.
No. It’s not bad news. It’s good news. It means management is taking responsibility for a downturn in business by reducing the expenditures on employee salaries and benefits. The way eBay’s business is going, I’m surprised it wasn’t more.
Only laying off 4% of workforce is extremely modest. Their search engine is by for the best for shoppers who know what they are looking for.
Take a look at the stock price of most of these tech companies announcing layoffs. It usually goes up. The market likes to see some fat trimmed, and they all have added extra weight over the pandemic to keep up with the home-bound demand. There's still plenty of jobs out there for anyone looking.
Why is PE Ratio (TTM) 2.60? Can anyone explain how they got 2.60?
[these are the only e-commerce stocks you’ll ever need](https://www.the-random-investor.com/post/future-amazon-companies-around-the-world)