Over 85,000 tech workers have been laid off since the beginning of 2023, demonstrating the urgency of worker organizing.
to signal that they are “cutting costs,” becoming more “efficient,” and righting the ship. This is because capitalism is not altruistic: major shareholders don’t buy shares because they want to invest in these companies’ visions or provide startup capital for them to become more productive. They buy shares because they believe those shares will be worth more money in the future; this is their only pursuit as capitalists; it is the only way they make money.
Pretty incredible that Google is trying to get away with blaming macroeconomic conditions for their layoffs, when over the last year they’ve spend 57.36B on stock buybacks. That’s enough to support the 12,000 laid off engineers at their median engineer compensation for 23 years.If this trend follows the tech industry’s usual cycle of layoffs, we can expect to see each of these companies begin hiring again as soon as a few months from now. The problem wasn’t too many workers; it was that workers were gaining too much confidence.
It is understandable that tech workers who are now feeling precariously employed may begin to have cold feet about unionizing. A software engineer who could have previously said, “What are they gonna do, fire me?” may now think signing a union card comes with a higher risk.
Workers in the tech industry are strategically placed, given that the industry sits at the nexus of every other part of the economy, from communication to healthcare to finance to logistics. For this reason, organized tech workers could have a massive impact not only on their own job security but on what they make and how it gets used.
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