As of July, over 30,000 technicians have lost their jobs.Compassionate Eye Foundation/Martin Barraud/OJO Images Ltd/Getty Images
As of July, over 30,000 technicians have lost their jobs.
Insider spoke to employees from Tesla to Coinbase to hear their stories.
These are their stories of the personal and economic toll of layoffs in the industry.
According to the latest data from the US Department of Labor, jobless claims have risen to an unexpected 8-month high.
As the economy slows, many big tech companies have warned their employees about downsizing and layoffs. Prior to Facebook’s poor earnings report, several executives sent memos to their teams warning of imminent job cuts.
Earlier this year, as cryptocurrencies plummeted in one of the asset class’s coldest slumps in years, hot-shot crypto exchange Coinbase laid off nearly 20% of its employees. The company went so far as to withdraw job offers from new employees.
Tesla laid off more than 200 employees last month.
More than 30,000 tech workers were laid off through July, according to Crunchbase.
At Insider, we chart how the economic downturn is affecting the tech industry’s most vulnerable workers.
Here is an ongoing list of first-person and as-told stories that show the human toll of layoffs in the industry.
A Tesla IT Manager: ‘I noticed red flags the day I got fired’
A Tesla IT worker tells Insider about the red flags he saw before the layoff.
The employee describes the scene at Tesla’s Fremont, California plant, where people wept as they exited the lobby on the day of last month’s layoffs.
The company offered the worker an Uber voucher to get home. But they told Insider editor Jenna Gyimesi, “I feel like I’m starting over.”
Despite this experience, they still feel Tesla is doing good for the world
Read more: I got fired from Tesla. Here are the red flags I wish I had noticed the day it happened.
A Coinbase Program Manager: “I’ve Never Experienced Such a Lack of Empathy”
Working at Coinbase was a dream come true for Miguel Cuevas.
But he was one of 1,100 employees the company laid off when cryptocurrencies collapsed earlier this year.
The story goes on
In the weeks leading up, many employees asked if layoffs were coming, but according to Cuevas, management urged everyone to “keep on chugging on like things were normal.”
He told Insider reporter Jessica Xing that he felt the company hadn’t lived up to its promises.
Read more: I was fired from Coinbase. Working in crypto was a dream, but now I’m frustrated and angry at the company’s failed promises.
A Netflix Writer: ‘I really feel bad about what was done to me and my co-workers today’
A copywriter from Netflix’s closed fan site Tudum describes the layoffs on the now-closed site.
First, they found that their manager’s Slack had been deactivated.
Then they noticed a call they had ignored. Others had described receiving the bad news over the phone. When they called back, they got the message: Two weeks salary, but her job was no more.
READ ALSO: I Was Part Of The Netflix Layoffs. That’s how it went.
A Tesla recruiter: “I was struggling to keep my composure and not cry”
Working at Tesla was a dream job for Quishon Walker.
As a recruiter, he was one of the first to lose his job last month when the company announced there would be downsizing.
The company also announced that it would freeze the hiring for the time being.
When he saw an ominous calendar invitation, he knew his time was up after just two weeks at the company.
Read more: I just got fired from my dream job at Tesla without warning. I feel like my life was uprooted so a billionaire could save some money.
A Coinbase engineer: “I’m worried and panicking”
Ashutosh Ukey was an entry-level engineer who was offered a dream job at Coinbase after graduating from the University of Illinois.
As a visa holder, Ukey’s status of remaining in the US is dependent on finding an employer to sponsor his visa.
When Coinbase told him they were withdrawing his job offer, he worried about staying in the country.
Ukey says he’s unsure about returning to crypto given the precariousness of his visa situation and the uncertainty of the industry.
Read more: My job offer at Coinbase has been revoked. I’m panicking because I have to leave the country in 5 months if I don’t find a new job.
If you’re a technician and want to tell us your story, write to our editor Tekendra Parmar at [email protected]
Read the original article on Business Insider