State of the Market

[SussexSeagull]

This smells like 2001 and 2008 to me. I've had a couple of interviews but nothing as of yet. There are about four roles I'm aware of (I know the company names) in my programming niche and they are constantly spammed on the job sites.

I've been contacted by agents on Linkedin about all of them and promised to use them and signed the usual bumf but they aren't getting any further to interview stage. An agent claimed one role was pulled (verified by another so maybe even true?) but it's just radio silence for the rest. They aren't ghosting me but nothing progresses.

What is happening? Are the agents just flooded with CVs or the employers dragging their feet? I can understand the Easter week or two but it's just dead the week after?

One odd thing is the claimed rates are still quite high but I wonder if this will continue?

Anyway good luck to all! I'm just plugging away with this and trying the exes and do expect work at some point but it could be months away at this rate.

I was still permanent in 2001 but remember 2008 well. Funnily enough I had six months out then followed by the only contract I have ever served notice on but from then on things slowly built up again and I didn't have more than a couple of months off until the Brexit decision. Since then multi months between contracts have been common.

The big difference at the moment is several experienced people on here with varying skillsets are struggling.

[Fraidycat]

I don't know about recruitment specifically but if you search for 'layoffs' in linkedin and filter it to show posts less than a month old, it is sombre reading.

I did that search you suggested, someone posted this yesterday:

"Hey London - yesterday I found out I’ll be impacted by the layoffs at Meta, because Instagram London will be shut down.
.. Myself and around 250 other talented people will be trying to find our next opportunity. Many of us are on Skilled Worker Visas (myself included), and will need sponsorship to keep contributing to the tech scene here."

Someone suggested she switch to a Global Talent Visa here in the UK, then she wont need sponsorship.
Although this new round of job cuts were hinted last month, it will be from this week that this round of unemployed meta workers will be hitting the jobs market. I also doubt this is the last of the UK meta layoffs.

From the FT article published on thursday:

Meta plans to axe more than 10 per cent of its UK workforce and ditch Instagram’s new hub in London, as the social media group retreats from the British capital in its latest restructuring effort.

An internal document sent to staff on Wednesday said that at least 687 jobs would be eliminated, primarily in London, with yet more among its UK staff of about 5,000 at risk of redundancy.

[dsc]

[...]
Meta plans to axe more than 10 per cent of its UK workforce and ditch Instagram’s new hub in London, as the social media group retreats from the British capital in its latest restructuring effort.[...]

Anyone has any guesses why the decision to ditch London altogether?

I'm in a different industry to IT, but I've heard absolutely nothing for the last 2-3 months, before that it wasn't so bad, mostly perm jobs on salaries from 2010, but still something, now there's nothing...

[Fraidycat]

Anyone has any guesses why the decision to ditch London altogether?

I'm in a different industry to IT, but I've heard absolutely nothing for the last 2-3 months, before that it wasn't so bad, mostly perm jobs on salaries from 2010, but still something, now there's nothing...

I read that the London Instragram hub was only about 12 months old, so not well established. I don't think they have plans to completely close all the main Meta offices in London, those have been around a lot longer, but you never know.. they are doing some brutal cuts..

[TheDude]

Anyone has any guesses why the decision to ditch London altogether?

My guess is high salaries and Brexit.

[PCTNN]

My guess is high salaries and Brexit.

I'd say in this case it's neither.

They are relocating most of the staff to New York, so not in the EU and not somewhere where salaries are low.

[eek]

My guess is high salaries and Brexit.

New team, never reached critical mass with so not essential and probably more hassle than it's worth.

What the rest of facebook removes will be of far greater interest.

[Bluenose]

Anyone has any guesses why the decision to ditch London altogether?

Pro-business environment, low crime, low taxes, low regulation, working public services *sic*

In terms of state of the market, the burner continues to be dead, 10 calls in 15 working days. functional market is about 5 calls a day.

You hear that sound? Its the sound of contract desks going bust.

[wettowel]

Late to the party, but I've got a few questions / observations.

1) Does anyone know how many of us are out there? It's baffling that nobody is worried about this - we've got mortgages, car loans, credit cards to pay, etc. and I just don't really know how hundreds of thousands of people (again, how many of us are out there?) who used to earn in excess of £100k per year can survive on savings or £40k salaries. My mortgage only eats 1/3rd of our income, but I've been out of a job for 7 months now and I'm running out of savings. Even if I get a £40k permie job, it won't cover the bills - it will only add to the suffering. Is the HM Government going to print more money to rescue us when things go bad? Or will they leave us for dead? How can nobody see this as a massive problem?
2) If things don't get better quickly, the next two professions that will cease to exist will be recruiters and HR staff. These clowns used to make so much money on us - if we don't have jobs, they won't have jobs! Add them to the picture, and things look pretty bleak for the entire economy.
3) Remote working - I don't really know how companies can expect people to go back to the office - many people have rebuilt their lives after COVID and going back to the office is not an option. Even if I wanted to, my girlfriend wouldn't let me, as it would mean that she has to quit her job and be a SAHM again, which she won't agree to.
4) What's the deal with the ridiculous "AWS developer" job trend (I'm in the IT)? WHO or WHAT is that AWS developer guy / gal? Where is this ridiculous trend coming from - the companies or the recruiters?
5) GOD HELP US ALL

[quackhandle]

Late to the party, but I've got a few questions / observations.
Is the HM Government going to print more money to rescue us when things go bad? Or will they leave us for dead? How can nobody see this as a massive problem?

You are late as you would have realised they've been pissing on our corpses for over 10 years now.


qh