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Job losses in Ireland - Megathread

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    #302
    hymenelectra
    Registered Users Posts: 483 ✭✭hymenelectra


    https://www.boards.ie/discussion/comment/120635727#Comment_120635727

    My overall point is that very soon, they won't be anywhere.



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    #303
    BlueSkyDreams
    Registered Users Posts: 3,449 ✭✭✭BlueSkyDreams


    https://www.boards.ie/discussion/comment/120635739#Comment_120635739

    Your overall point is rubbish then.



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    #304
    hymenelectra
    Registered Users Posts: 483 ✭✭hymenelectra


    https://www.boards.ie/discussion/comment/120635751#Comment_120635751

    Sure.



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    #305
    SouthWesterly
    Registered Users Posts: 6,735 ✭✭✭SouthWesterly


    https://www.boards.ie/discussion/comment/120635528#Comment_120635528

    My initial reaction was that this is payback for the 1.2bn fine the DPC slapped on them this week.



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    #306
    The Nal
    Registered Users Posts: 12,735 ✭✭✭✭The Nal


    https://www.boards.ie/discussion/comment/120635836#Comment_120635836

    Nah, thats'll be passed onto advertisers and consumers anyway. We're essentially fining ourselves there.

    These jobs were always going to go from this bloated mess of a company.



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    #307
    Quin_Dub
    Moderators, Politics Moderators, Social & Fun Moderators Posts: 15,471 Mod ✭✭✭✭Quin_Dub


    https://www.boards.ie/discussion/comment/120635836#Comment_120635836

    Doubt it - The consultation requirements regarding large layoff means that they would have had to tell the government several weeks ago of their intentions.

    This is just the continuation of the fall-out from Zuckerberg making an absolute balls of leading his company for the last 4 or 5 years.

    They hired 10's of thousands of staff world-wide and spent billions planning for a "Metaverse" that nobody ever wanted which they have now officially shelved.



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    #308
    mariaalice
    Registered Users Posts: 12,484 ✭✭✭✭mariaalice


    Whatever happened to Irish staff with the Twitter fiasco, how many were actually let go, and more importantly any of them not have jobs to walk into?

    A fascinating piece on the radio yesterday about remote working, location-free remote working anywhere in Ireland is being offered as an incentive, no employer is doing that because they love their staff, it's what there are doing to get and retain staff.



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    #309
    hymenelectra
    Registered Users Posts: 483 ✭✭hymenelectra


    https://www.boards.ie/discussion/comment/120635919#Comment_120635919

    The elephant that has been standing in the room for years. Remote working.

    If your job can be done from anywhere with a laptop and an Internet connection, then it will eventually be done in the cheapest location for salary.

    A lot of these tech companies import their staff into Ireland, the next logical step is to not bother.

    Put a single person in a cupboard in Waterford for tax evasion reasons, similar to the likes of fyffes bananas (the largest banana company in the world, headquartered in a flat above a chip shop in phibsboro?). Bingo. The rest can work from new delhi at new delhi wages.

    Producing actual physical product with real-world value, like pharmaceuticals and medical devices are a good idea. These keyboard tapping jobs, not so much.



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    #310
    mariaalice
    Registered Users Posts: 12,484 ✭✭✭✭mariaalice


    https://www.boards.ie/discussion/comment/120635963#Comment_120635963

    That is not true, google the first media article mentioning IT being moved to India or whatever 'cheaper' location was in vogue its being said for at least 20 years hasn't happened, and there is a terrible obsession in Ireland with dome around well-paid IT jobs its peculiar.



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    #311
    timmyntc
    Registered Users Posts: 7,037 ✭✭✭timmyntc


    https://www.boards.ie/discussion/comment/120636069#Comment_120636069

    Outsourcing failures made bigger news than the successes - plenty of jobs have moved to India which is huge now in IT, software development, hardware development.

    Most MNCs will have an office in Bangalore now and large numbers of staff.

    Currently skilled staff is the bottleneck - there just arent enough free skilled staff in India for them to expand enough to take all the jobs from Ireland or EU.

    The 2 big draws for MNCs hiring in Ireland is 1. R&D tax credits based on headcount , and 2. Access to the EU wide skilled labour force.

    The risk to Ireland is really another EU country offering the tax incentives for hiring there instead, as the labour force issue is the same EU wide.



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    #312
    NIMAN
    Registered Users Posts: 33,534 ✭✭✭✭NIMAN


    The tech companies all seem to be laying off, perhaps employed too many in the good times?

    Pharma seems to be the future. They are recruiting, rather than laying off. And we'll always need medicines moreso in the future.



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    #313
    mariaalice
    Registered Users Posts: 12,484 ✭✭✭✭mariaalice


    https://www.boards.ie/discussion/comment/120636113#Comment_120636113

    That is true but fortunately or unfortunately having a certain education/skillset makes the individual very mobile, it's like the downturn of 2008 all the third-level educated construction workers went to the middle east, London, etc because they could, the global workforce becomes even more mobile since then.



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    #314
    bakerbhoy
    Registered Users Posts: 582 ✭✭✭bakerbhoy


    Past time also to amend ,statutory redundancy payments.

    Currently capped at max €600 per reconable week.

    This was set years ago.



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    #315
    VinLieger
    Registered Users Posts: 17,972 ✭✭✭✭VinLieger


    https://www.boards.ie/discussion/comment/120636126#Comment_120636126

    They all hired during the covid tech rush and now that's slowed down they are way overstaffed and have to shed to keep shareholders happy.

    For example FB/Meta was around 60k staff pre covid late 2019, they went on a massive hiring spree that got them to around 90k by mid 2022.



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    #316
    ELM327
    Registered Users Posts: 21,952 ✭✭✭✭ELM327


    The only companies still increasing outsourcing to the likes of india are those with activist investors focused on the now not on the 3-5 year plan.

    None of these tech companies are reduced back to pre covid levels of staffing. And whats more theres plenty of jobs to go around in the MNC tech space. I was laid off earlier this year and am already in my new job. As are most of those who were laid off with me



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    #317
    Cuddlesworth
    Registered Users Posts: 13,990 ✭✭✭✭Cuddlesworth


    Asia is too expensive to outsource now, they go to Latin America. Then regret it, then insource again and so on.



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    #318
    ELM327
    Registered Users Posts: 21,952 ✭✭✭✭ELM327


    https://www.boards.ie/discussion/comment/120638043#Comment_120638043

    Yes, I've seen some strange outsourcing to latin america, not only mexico either. I suppose with the time zones it makes more sense than india but I always got the impression that the indian outsource staff always spoke good english - albeit with some odd local idioms - whereas the staff in LATAM did not share the same universal command of english.



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    #319
    Nola Mysterious Hairstylist
    Posts: 0 ✭ Nola Mysterious Hairstylist


    The landscape of jobs in IT will change quickly with AI & machine learning, which can replace a lot of processes hitherto performed by humans. Whatever about job losses, there will be changing roles & some different skill requirements. It will always be overseen by humans who must supervise the inputs and outputs, and program with a high level of abstraction, but that also means understanding the underlying processes, and the more intelligent the inputs the more goal oriented are the outputs.

    It’s been the same over decades of industrialisation, old roles become redundant all the time. There is a pace at which it is happening in front of our eyes which we are not quite grasping.



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    #320
    BlueSkyDreams
    Registered Users Posts: 3,449 ✭✭✭BlueSkyDreams


    https://www.boards.ie/discussion/comment/120637953#Comment_120637953

    This is a good point. The tech companies are still much bigger than they were pre covid. They just scaled up too much during covid.

    Even Meta only had 1300 Permanent staff at the end of 2019.

    At the beginning of this year they were at 2600, scaled back to 2000 after the 3 rounds of cuts, including this announcement.

    At 2000 staff by year end 2023, they are still 54% larger in headcount than they were at the end of 2019.



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    #321
    Padre_Pio
    Registered Users Posts: 5,141 ✭✭✭Padre_Pio


    https://www.boards.ie/discussion/comment/120638248#Comment_120638248

    Stock boom during COVID gave tech companies more money than they knew what to do with.

    So they hired like crazy, and now the boom has busted, they're laying off staff. Simple as, it has little to do with the actual health of the company.



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    #322
    awec
    Administrators Posts: 53,764 Admin ✭✭✭✭✭awec


    https://www.boards.ie/discussion/comment/120638290#Comment_120638290

    In Meta's case it's a little to do with the health of the company.

    Their entire business model is getting hit from all sides. Being blocked from sending EU data back to the US, Apple taking privacy measures which kills their ability to track you, Australia, Canada (and others to follow) making them pay the media for conent, splurging billions on the metaverse that never went anywhere, and has been very quietly forgotten about.

    Lawmakers and regulators are all over them.

    Today they sold Giphy for a 86% loss.

    If Zuckerberg didn't have control of the company he'd be gone by this stage.



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    #323
    The Nal
    Registered Users Posts: 12,735 ✭✭✭✭The Nal


    https://www.boards.ie/discussion/comment/120638290#Comment_120638290

    As wlays tbf. Its the US big business model for the last 100 years. Started in tech in the late 90s. Grow/Hire, contract/Fire, repeat.



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    #324
    Quin_Dub
    Moderators, Politics Moderators, Social & Fun Moderators Posts: 15,471 Mod ✭✭✭✭Quin_Dub


    https://www.boards.ie/discussion/comment/120638455#Comment_120638455

    100% - Meta has been a complete disaster for at least 5 years.

    A dying business model for all the reasons you describe along with missing the boat on things like tiktok ,snapchat, BeReal and the other short video platforms.

    And then there is the utter calamity that is the "metaverse" , a totally stupid concept that Zuckerberg bought into so hard he renamed the company after it.

    Meta will be broken up and sold for parts over the next couple of years, which is sad for the employees - But there will be opportunities elsewhere.



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