Bosses Are Finding Ways to Pay Workers Less

I know multiple people who did 15+ years at Google or other big tech cos, and got let go despite having consistently good performance reviews. Those companies figured they could be replaced with younger and much cheaper people (or not replaced at all since the companies overhired during the pandemic).<p>Fortunately, most of these people managed to find new jobs relatively quickly, albeit with somewhat lower comp packages.

Breaking news from 5000 BC

<a href="https:&#x2F;&#x2F;www.msn.com&#x2F;en-us&#x2F;money&#x2F;companies&#x2F;bosses-are-finding-ways-to-pay-workers-less&#x2F;ar-AA1pCcpj" rel="nofollow">https:&#x2F;&#x2F;www.msn.com&#x2F;en-us&#x2F;money&#x2F;companies&#x2F;bosses-are-finding...</a><p>Text-only:<p><a href="https:&#x2F;&#x2F;assets.msn.com&#x2F;content&#x2F;view&#x2F;v2&#x2F;Detail&#x2F;en-in&#x2F;AA1pCcpj" rel="nofollow">https:&#x2F;&#x2F;assets.msn.com&#x2F;content&#x2F;view&#x2F;v2&#x2F;Detail&#x2F;en-in&#x2F;AA1pCcpj</a>

People should be absolutely furious about this honestly<p>Productivity is up, companies are reporting record profits, and all forms of compensation are being squashed as much as possible<p>At some point enough is enough right?<p>This idea that people were being overpaid is absurd. We&#x27;ve been underpaid for decades and it&#x27;s getting worse over time not better

&gt; wages for new hires in construction, manufacturing, food and other blue-collar sectors appear to be ebbing too, according to an analysis of millions of jobs posted on ZipRecruiter.com. Job seekers report seeing roles that once offered salaries between $175,000 and $200,000 a year ago now being advertised for tens of thousands of dollars less<p>You mean, I can quit software engineering and install flooring for $150,000&#x2F;year!? Count me in

prelude to recession, as visible in Sahm rule trends at <a href="https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;release?rid=456" rel="nofollow">https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;release?rid=456</a> as well as when the 10 2 yield curve approaches +0.5 <a href="https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;series&#x2F;T10Y2Y" rel="nofollow">https:&#x2F;&#x2F;fred.stlouisfed.org&#x2F;series&#x2F;T10Y2Y</a> with near term interest rate cuts, along with other indicators; guessing arrives early next year;

<i>&quot;Salaries for tech jobs working with back-office and core operations business software that paid between $110,000 and $130,000 a year ago now go to less experienced hires for $85,000 to $100,000, he said. Some companies are laying off entire service areas, renaming the division and populating it with new hires at much lower compensation levels.&quot;</i>