State of the Market

[Snooky]

I doubt they would lower themselves to most roles out there.

You may be right, but mortgages won't pay themselves

[eek]

I doubt they would lower themselves to most roles out there.

I doubt they would get past the interview stage of those roles because interviews will think they would get bored quickly.

[Fraidycat]

Or possibly just lots of jobless FAANG & Twitter staff sucking up all the roles?

Google are apparently doing UK layoffs in April.
"Google's executive overseeing EMEA, told UK employees that those whose roles were provisionally targeted for redundancy would know "by early April."

I guess this will effect the Perm market more than Contractors, although does have a knock on effect. Often clients only look for contractors after they cant fill perm openings.

[SussexSeagull]

Phone has started ringing again. Hopefully this time round it leads to something.

[Bluenose]

Phone has started ringing again. Hopefully this time round it leads to something.

First rule of contracting, never answer your phone on Friday.

Even the burner has gone off twice today and that's been on death watch for about three weeks.

Would not want to be a contract recruiter this week, it looks like carnage and a poor setup for April. Things best pick up in April or this year is a wash already.

[edison]

I was thinking this most recent drop might be due to the banking issues we have been seeing over the past week, SVB, Credit Sussie etc. Will have scared everyone even outside of banking. Temporary hiring freezes which might get lifted in April if everything turns out fine.

You might be onto something there. I'm working at a fairly large client that has recently had external investment and is forecast to double in size over the next five years. It appears to desperately need some extra people to support the planned growth and transformation. Yes despite being a very profitable company, it's just announced a hiring freeze which doesn't make much sense.

[Fraidycat]

it's just announced a hiring freeze which doesn't make much sense.

If they start to fear a recession/slow down then things switch from growth to efficiency. Just like Facebook is calling 2023 "the year of efficiency".
There is also a good chance those same external investors might be telling them to slowdown as well.

In theory this is supposed to be good for temp workers like contractors but not seeing it in reality yet..
Maybe when the perm layoffs really start to happen then contractors will be brought in as cover?

[rocktronAMP]

First rule of contracting, never answer your phone on Friday.

Even the burner has gone off twice today and that's been on death watch for about three weeks.

Would not want to be a contract recruiter this week, it looks like carnage and a poor setup for April. Things best pick up in April or this year is a wash already.

Second rule of contracting: speculative calls that come in during the week day after 5pm are likely fishing and last attempts of the day to find someone. Don't be that sucker that is on the mobile with an agent at 7:30pm when you should be having family time!

[Fraidycat]

Or possibly just lots of jobless FAANG & Twitter staff sucking up all the roles?

Seems like other Tech companies have taken note of what Musk did at Twitter by cutting 50% of the work force and the lights didn't go out.

Facebook is doing another round of layoffs, bringing total cuts to 25%, and it is only March, and they plan a year of efficiency.

Being much bigger than Twitter, starting with 86000 employees, Facebook cant cut 50% in one go, so it looks like they are doing it 10,000 jobs at a time, as less disruptive that way.

Some pretty brutal downsizing going on..

[PerfectStorm]

Had a phone interview last week. A panel interview (always bad) and one of them wanted to spend 98% of the time asking questions about when I'd used this or that methodology in the past, leaving 2% of the time to talk about the actual project. ffs.