Enterprise IT giant layoffs happened because 'some CEOs got ahead of their skis'

Some enterprise tech CEOs suffered a degree of over-optimism in their hiring strategies during and coming out of the pandemic, according to a senior Gartner soothsayer. The market researcher today released figures which continue to portray strong underlying growth in enterprise tech spending from a commercial perspective, …

[AdamWill]

interesting metaphor

""There are some CEOs who got ahead of their skis," Lovelock said."

Of course, when skiers get ahead of their skis, they fall over painfully. When CEOs get "ahead of their skis", the skis get laid off...

[Anonymous Coward]

Re: interesting metaphor

Usually to be replaced with a cheaper set of skis, which turn out to just be planks of wood with the word "skis" written on them with a sharpie.

[ecofeco]

Re: interesting metaphor

Or a golden parachute while the skis go over the cliff.

[Apprentice Human]

A few more to the company list.

What about Cisco, and Amazon? And, too late for this article, but obviously Micro$loth too.

However it seems there are lots of smaller companies with many vacancies so I hope people are not out of work for extended periods.

[Screepy]

Re: A few more to the company list.

MS is mentioned in the 2nd paragraph.

But agree with your other point. There do seem to be IT jobs out there at the mo.

We've got Sys Eng positions in our team but we've been unable to fill them as candidates have been counter-offering hard on salary which usually means they're not that desperate.

Good luck to all who find themselves in 'looking for work pool'

[Anonymous Coward]

Not all of those postitions we IT.

While some of us IT types are having to make moves, a big chunk of those layoffs are either other engineering staff or non-technical staff from what I have seen. And there has been an overall shortage of decent IT staff, so we may not get beat too hard for now.

That said, the time to move was over last year not this year, and it's no mystery why. The Fed decided to put two slugs in the head of the labor market because that's what it's mandate says it's supposed to do, and unlike the 2008 crash and COVID, they aren't calling for new tools that would let them address inflation in a more target way then murdering the labor market. So they are forcing a recession to force management to kill the labor sector to undercut demand to stall inflation that was primarily caused by a greed spiral that had nothing to do with labor and everything to do with erasing the real wage gains from the minimum wage increase.

So once again, labor holds the bag while the investor class keeps the money. Right out in the open with a big smile on their faces. Icing on the cake as they drain our accounts again is as the recession rebounds, we won't have much money left to put in the market at the bottom. The people that crashed the economy will have the profits they made doing that, as well as OUR money from throttling the labor market and creating the recession in the first place.

If you want a an angry peasant revolt, this seems to be a good way to do it.

[ecofeco]

Re: Not all of those postitions we IT.

Nailed it perfectly.