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Microsoft to Cut 9k Workers in Second Wave of Major Layoffs

(www.bloomberg.com)
209 points htrp | 1 comments | 02 Jul 25 13:26 UTC | HN request time: 0s | source
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nyarlathotep_ ◴[02 Jul 25 16:18 UTC] No.44445552[source]▶
I do wonder if these trends continue (paired with the offshoring and H1B replacements they're all in on (otherwise mentioned in this thread), how this effects the local housing markets in places like, in this case, Seattle.

If every third 22 year old isn't making 200K, how are you going to sustain a market of crapshacks "worth" 1M?

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InkCanon ◴[02 Jul 25 20:55 UTC] No.44448710[source]▶
I predict many areas will eventually become like old mining/factory towns. Middle class jobs are being offshored at an astounding rate. Just doing some math - if a tech company lays off 7% of its employees for six years and sends the jobs overseas, nearly half of its American employees will be fired
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1. vitaflo ◴[04 Jul 25 18:46 UTC] No.44466913[source]▶
This. Tech workers are the modern day factory workers and tech cities will become like the rust belt once all the jobs get shipped overseas and AI takes over.

No it won't happen overnight, but neither did factory jobs leaving. I suspect though in 10 years the tech market for US workers will look very different than it does today.