This is a most excellent place for technology news and articles.
Uhh bubble popped. Economy is bad right now
And this is news... somehow.
It's a scare article to make people afraid. If you're afraid you won't look for a new (better) job and will work harder where you are.
These higher-paid workers used to be promoted to senior management or even executive roles. But since people are working longer than ever, those roles aren't available and people are getting stuck.
Even when senior management or executive roles are available, the terror of nepotism usually rears its ugly head.
Why do you hate success so much?
So tiring to see all this hate for the better people! Poor people are such sore losers tbh shoulda worked hard to have loaded parents.
Ngl, you had me in the first half
The wealthy really didn't like seeing labour getting off its knees during the pandemic and they're stomping down hard lest we get a taste for it.
"You'll own nothing and be happy" should have been taken as the threat that it was when the WEF first promoted the notion.
The "be happy" part is the threat, they want us smiling as we suffer.
EDIT: To be clear, I'm all for the REDUCE part of the three R's and am okay with doing with less, what I'm not okay with is a future where literally every aspect of human existence is a rent-seeking service.
They did not promote it. It was a keynote on the potential of the current economic trends. It was more a warning than anything else.. the problem is.. 1984 was also not supposed to be a manual.
We're going back to the period between 2008 and 2020 where employers didn't want to pay for well educated and experienced professionals and it was impossible to negotiate your salary. We're back at having stagnating wages again. In a period of incredibly high inflation no less.
I only got a significant bump in 2021 when companies claimed worker shortages.
We’re going back to the period between 2008 and 2020 where employers didn’t want to pay for well educated and experienced professionals and it was impossible to negotiate your salary.
Is what you're citing industry or region specific? In technology those years represented explosive growth and wage increases.
I'm a software engineer. In Canada. There was no explosive growth. Only layoffs and stagnant wages. There was a huge brain drain to the US during that period. Many of my university friends ended up in the states.
I know many wonderful Canadian brothers and sisters that have come from up north. Its always been one of those strange things to me that my Canadian friends can't get even close to the same pay in Canada as the USA. I imagine there are many reasons for it.
I suppose we can say that those Canadians experienced the explosive growth in wages too, just not inside Canada.
I wonder if that had anything to do with low interests rates and Venture Capitalists practically throwing cash at startups?
Other industries just simply didn't have the same advantages, and now that tech companies no longer have those advantages either, they're becoming just like any other corporation.
Also, tech companies are on the forefront of businesses who sell services to other businesses which tends to be much more profitable than selling to consumers. Regular consumers have never been Google's customers, even though most regular people use Gmail. Their customers are the advertisers.
People were throwing money at tech because tech was "disruptive" which meant finding a way to skirt existing employment laws, destroy established industries with worker protections, and then boost the prices to insane levels once they've completely wrecked traditional competition. See: Uber.
I wonder why they were throwing so much money at tech? It wasn't about Union Busting, was it?? Oh wait, it totally was.
Acting like "tech" was in any special position other than being poised to exploit the living fuck out of everything feels pretty naive.
Related: The Tech Baron Seeking to Purge San Francisco of “Blues” The tech barons are and were fascists. They're happy to pay unwitting people very well to help build a terrible new world nobody else actually wants.
This is called "kicking you off the ladder so they can finish pulling it up behind them."
Oh man am I feeling this right now. My CEO has decided that managers with fewer than 5 staff are faking it and will no longer be managers going forward. This has led to a mad dash by directors around the company to make sure they all have 5 reports. People have suddenly been put under managers that have nothing to do with their work, just to make the numbers all come out right. And here’s me, a senior manager with 4 reports. My annual review rating was in the top 2% of the company, but I was basically told:
“We already have too many useless Directors already so there’s no growth path for you, sorry. In fact, not only is your promotion cancelled, we’re passing out your staff to others who need the numbers.”
I was literally rewarded for top performance with a demotion. A shift in the marketplace, you say? I think I felt that shift go straight up my ass. But thank god those who got theirs already are being protected! /s
Bruh. You’re a hair’s breadth from being fired. Polish up your shit and find a new job asap.
Ya think????
Brutal. I'm so sorry to hear about that for you man. Loyalty is always a one-way street with these people. They demand loyalty but will turn you out to the street the second its profitable for them.
Like I've said before, Donald Trump is America's Id, he represents all the worst impulses that exists in the minds of the so-called "elite."
Yeah I’m being told that I’m getting fucked, and it comes with the reminder that I need to deal with it in a mature way and take one for the team (“your reaction will be closely watched”) or it will be remembered in my next review. LOL. You have to be loyal even while you’re getting betrayed.
next review? bro, leave.
Sounds like it's time to take those skills to another party
Exploitation is on the rise
