RE: LeoThread 2024-12-22 00:43

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RE: LeoThread 2024-12-22 00:43

ahmadmanga (73)in LeoFinance • last month

Why Tech Companies Frequently Hire and Fire?

Tech companies hire and fire frequently due to factors like diversification, monopoly, and bad management, leading to a cycle of growth and cost-cutting measures.

last month in LeoFinance by ahmadmanga (73)

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ahmadmanga (73) last month

Reasons for Hiring

📈 The largest tech companies have been on a diversification spree, hiring extra staff to work on new projects and products.
🚀 Tech companies try to monopolize important services, making it difficult for new competitors to enter the market, and hire talent to prevent them from joining startups.
🤦‍♂️ Bad management also contributes to over-hiring, as companies grow and add more employees, managers, and departments, sometimes creating unnecessary roles.

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ahmadmanga (73) last month

Reasons for Firing

💸 During financial downturns, tech companies can fire employees to cut costs, as existing customers may not be spending as much and new projects may not be viable.
🚫 In bad market conditions, new companies may struggle to get established, reducing the risk of new competition and allowing tech companies to cut expenses without fear of repercussions.
📉 When many companies are laying off employees, it becomes easier and cheaper for tech companies to hire new talent, making it a good opportunity to get rid of underperformers.

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