All you need to know about what you need to know!
February 10, 2023
1. The Great Regret is Underway. Upwards of 80% of job switchers during the Great Resignation now have regrets about their decision. Read more here.
2. The 2023 Layoff Scorecard – Top 12
Google 12,000 12%
Microsoft 10,000 5%
Amazon 8,000 2%
Salesforce 8,000 10%
Dell 6,650 5%
Phillips 6,000 13%
IBM 3.900 2%
SAP 3,000 3%
Paypal 2,000 7%
Yahoo 1,600 20%
Lam Research 1,300 7%
Zoom 1,300 15%
3. Middle = Left? A study showed that, while executives are focused on company growth and rank-and-file employees are focused on career growth, middle managers are wielding woke-workplace policies like a club against their employers.
4. Big Tech Losses are Small Business’s Gains. Big Tech announced more layoffs this week, as companies like Zoom, Dell, and Alphabet announced huge workforce reductions. At the same time, small businesses continue to hire, putting more pressure on the tight labor market. Read more here.
5. State of the Dis-Union? Here’s what the President should have put in his State of the Union speech to positively impact the tight labor market. Watch the video here.
6. Catchy Quotes:
"Big tech was bloated with talent...Companies feasted on COVID subsidies and stimulus-fueled consumer demand, and they used their spending power to box out small employers from access to talent. But the great reckoning has arrived, leaving many of these larger companies gutted. Small businesses are finally able to pick up qualified, affordable talent from among the pool of workers being laid off,” Andrew Crapuchettes, CEO of RedBalloon, said.
“‘The Great Regret’ is a lesson for jobseekers to do better advance scouting before they jump ship,” said RedBalloon CEO Andrew Crapuchettes. “In the Great Resignation, employers were throwing huge sign-up bonuses and other wads of cash at job switchers. But, now 8 in 10 have discovered that money wasn’t the answer.”
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RedBalloon CEO Andrew Crapuchettes has founded several successful tech-focused companies and is widely considered a global pioneer in the development and use of labor market data analytics. He served as the founding CEO of Emsi (now Lightcast) - which brought market-changing innovations to how higher education, corporations, and governments approach the labor market. Crapuchettes is also a frequent presenter at technology and business conferences, and frequent guest on business and technology news and influencer podcasts. In 2021, Andrew founded RedBalloon, which has quickly become America’s largest job-board-connector of employers and job seekers who prioritize workplace culture.
Media Contact: Isaac Lopez
(208) 997 8013, isaac@redballoon.work
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