It’s not just that they staffed up, but also that it was really hard to hire since everyone was hiring. So salaries went up, and internal recruiting teams expanded to meet the hiring need.
When the hiring slowed, there was not as must work to do hiring and onboarding new employees. This is why so many companies are including “HR” in their layoffs.
The other piece is even if they didn’t over-hire, they over-paid. I believe these mass layoffs are a natural way for salaries to go back down to pre-pandemic-ish levels.
Comments
It’s not just that they staffed up, but also that it was really hard to hire since everyone was hiring. So salaries went up, and internal recruiting teams expanded to meet the hiring need.
When the hiring slowed, there was not as must work to do hiring and onboarding new employees. This is why so many companies are including “HR” in their layoffs.
The other piece is even if they didn’t over-hire, they over-paid. I believe these mass layoffs are a natural way for salaries to go back down to pre-pandemic-ish levels.