tbh no one should be happy if big tech in sg are retrenching /rescinding offers

Just gonna make recession worst and desperate fresh grad can surely take on any jobs that require no experience and be direct competitor

which departments and what roles will be affected? anyone inside?

no you fool. it just means we're seeing some long-overdue market correction, n overvalued unprofitable "tech" companies with a burn rate faster than a Saturn V rocket, are finally being brought back down to earth.

these useless overvalued companies w questionable financial discipline hv long been propped up by nothing more than easy VC money sloshing around. and they're by no means the bellweather for the economy.

i hv honestly less respect for frivolous ecommerce and other gimmicky one-product "tech" companies than I have for oil & gas extractive companies in terms of contribution to the world.

All the news abt layoff are not true. Only selected teams mostly in overseas. Sg are not much affected

And for those who say offer rescinded - sure a not? Got proof to post? Don’t spread fake news

Ok. Continue your dream.
The bubble is bursting.
Overhiring now correcting the mistake made when things are stable.
Time to retrench. But retrenchment requirements include NDA which
covers online discretion. So you don't see these evidence anywhere.

Run while you can. Don't be caught without a job or pay freeze.

must be a typical dumb shopee employee, of course they tell the news some version that is watered down and downplayed

your ceo few months ago tell you stay strong and hodl the stock now what happens?

anyone else has offers rescinded

if you had your offers rescinded you should be happy that you dodged a bullet

I farming in civil serpent, job is the last thing to worry, worry yourself first

Fresh grad jobless is good. More chio fresh girl will advertise on sammyboy forum for us to choose. Hope this recession will be deep and we have more pussy to choose and pump!

Don't be too happy yet. If you are a real Shopee SG employee, you will know there's a townhall soon, the same mode of event Shopee used to announce retrenchment for overseas units.

Dont join all these shopee lazada ecomm companies la. high pay but first to get kan

Join govtech if not then ncs or ihis. iron rice bowl won't kenna chop one.

Coinbase is laying off 1,100 employees as Bitcoin prices continue to fall

s://.theverge.com/2022/6/14/23167219/coinbase-layoffs-crypto-winter-ceo-bitcoin-prices

://.tiktok.com/@angelorangelor/video/7109035660748590338?refer=embed

Haha yup. Look at this vid. Not a single cent of profit but still burning money on fancy facilities to allow fresh grads to feel like they're working in an atas place.

lol this is where all the money that could've kept you employed for a few more months, went to.

Is the tech bubble bursting???? Tech companies are retrenching engineers. Those who follow the fad of studying computer science come out won't have enough jobs?
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#104001: s://.nuswhispers.com/confession/104001

wowow, my ideal workplace, applying SHOPEE now!

yes shopee has started to freeze headcount wef last week and trimming non-essential staff starting this week.

mostly the new joiners or very junior people within the team - i felt this was solely an oversight of the management when they aggressively hired for the past year.

NUS CS Fresh Grad median pay 2022: 6.9k
NUS CS Fresh Grad median pay 2023: 2.5k

HAHAHAHAHAHA

LOL SHOPEE LOSER, I WORK AT CITADEL AND EARNS 500k++ GET SALTY BOIS

Hiring market self correction. A lot of headcount is needed during ramp up phase. Tech is a very new industry comparatively. So a lot of big tech are still learning as they move. The pay will correct itself and stabilize to market needs. This is very normal. Happened with engineering many years ago, happened to the other industries years ago. The younger generation have the advantage of history knowledge accessibility and yet I'm shock by the ignorance these Gen Y and Z have. Still singing the salaries and looking down on the other industries. Tech isn't lucrative without limits. Just that they are not yet matured. Expect discreetly carried out retrenchment, attrition in the coming years and reduction in median wage to fit the market in the coming years.

Welcome to reality, kids.

Here not wallstreetbets bro. Here is computer nerd thread. Go back to grifting stonks and crypto

Normal lah...

New industry some more new company...

Confirm retrench after they stable. Salary will also drop one lah...

CS is time to jiak sai if you are not good enough liao

To be fair those who are good can still get a very well paid job

Is those pretentious “data science” “business analysis” one will get hit the most …

Don’t see any value add to the business at the fresh grad lvl and got paid in proportionately high . Whole day shake leg then flex to other industry say tech rocks

Tsk tsk

Actually real SWE and dev, is worthy of respect. They write the code that actually build the products. If they're real genuine technical experts, not some 'fake it till you make it' coders from 1 weekend bootcamp, then they're valuable in any industry. Almost all industries deploy tech now.

It's the whole ecosystem around these software tech companies that is obnoxious. Basically the jiak liao bee ancillary roles like you mentioned, data science, analytics, even tech HR and marketing lol

All trying to seize a portion of tech's newfound prestige and high growth for themselves.

It's like suddenly if healthcare become super prestigious, then despite the fact that doctors nurses and Allied Healthcare Professional are the main players delivering the healthcare, suddenly all the ah mao ah gou like hospital HR, hospital admin, hospital communicators all suddenly try to get some prestige to rub off them too.

With the re-correction of tech from 2020-2021's irrational exuberance, all these useless ancillary roles will either get cut or they will flee like rats fleeing a sinking ship. In the end, the real valuable SWEs will remain to rebuild the company. This is a good thing for the industry.

Type so much lol probably unemployed. Cringe.

Who cares I earn way more than you all

Hahaha I'm not in tech bro. I'm in consulting. Not the wallstreetbets poseur either. This thread is of interest because of the flurry of news and activity from the layoffs.

I'm not in your field, but you're not in my league either.

My offer was rescinded yesterday. Don't know its a blessing or not given the pay is very high.

Singapore? What role what YOE are you and mind sharing the pay range?

I'll share you mine. YoE was 0 year, as I just graduated. Worked for 1 year with base of 345k SGD (equivalent to 250k USD) with bonus ranging to around 50%++. My TC first year ended up at 525k SGD.

I work at one of the top trading shop in Singapore, go figure which one so you can be envious.

One of the top yet only 525...? Lie better

yawn. you are really boliao to be pretending something you are not all throughout this forum lmao. get a life okay? just go back and continue watching ur xmm tiktoks bro

thats it? lmaoooooooo thats too little fr u getting lowballed

wa jin envy. i ish ATB came Sg when young, working in shopeee but soon to be retrenched. can u be my sugar daddee? i dowan unemployed computer nerds anymore. dm me pls

Imagine flexing to a bunch of nobodies. Cringe.

if u are successful and rich enough, you don't need to come here to seek validation LOLOLOLOL

HAHA omg you guys all damn salty it's damn funny sia.

My salary is real bois, u wanna pretend it's fake cuz u can't handle the truth.

Dude imagine what I earn in 3 years probably will outearn what yall ever earn in your career

Keep pretending bois it's okay, meanwhile keep the salt coming, I am gonna need it for my steak.

okay, show proof then. NPNT

Salt lmao. Bro just find data in financial forums, you'll know how much we make. 300-350k usd TC is the norm nowadays for our industry.

show the forums then :)