- More than 30,000 tech workers lost their jobs in July.
- Insider spoke to employees from Tesla to Coinbase to hear their stories.
- These are their personal and economic stories of resignation in the industry.
Data from the US Labor Department showed that jobless claims rose to an unexpected 8-month high.
As the economy falters, many large tech companies have warned their employees of corporate downsizing and layoffs. Ahead of Facebook’s weak earnings report, several executives sent a memo to their teams warning of impending layoffs.
At the start of the year, hot-shot crypto-exchange Coinbase laid off nearly 20% of its workforce as cryptocurrencies plunged in one of the coldest periods the asset class has seen in years. The company has gone so far as to cancel job offers from new recruits.
Last month, Tesla laid off more than 200 workers.
According to Crouchbase, more than 30,000 tech workers have been laid off since July.
At Insider, we’re revealing how the recession is affecting tech’s most vulnerable workers.
Here’s a list of first-person and narrated stories that show the human toll of industrial firings.
Tesla IT manager: ‘I noticed red flags the day I was fired’
A Tesla IT employee tells Insider about the red flags they noticed before they were fired.
The worker described the situation at Tesla’s Fremont, California factory, where people cried as they left the lobby the day they were laid off last month.
The company gave the employee an Uber voucher to get back home. But they told Insider editor Jenna Jimesi, “I feel like I’m just getting started.”
Despite this experience, they still feel that Tesla is doing something good for the world
Read more: I’m set on a Tesla. Here are the red flags I wish I had noticed the day it happened.
Coinbase Program Manager: ‘I’ve Never Seen Such Lack of Compassion’
For Miguel Cuevas, working at Coinbase was a dream come true.
But earlier this year, he was among 1,100 employees laid off by the company due to the rise of cryptocurrencies.
In the weeks leading up to this, many workers questioned whether layoffs were inevitable, but according to Cuevas, management told everyone to “continue to work as things are normal.”
He told Insider reporter Jessica Xing that he felt the company had failed to deliver on its promises.
Read more: I got kicked out of Coinbase. It was a dream to work in crypto but now I am frustrated and angry with the company’s failed promises.
Netflix cop: “I think it’s really bad what happened to me and my colleagues today.”
A copywriter at Netflix’s shuttered fan site Tudum describes the strike at the now-shuttered site.
First, their manager discovers that Slack is missing.
Then they noticed the call they had been ignoring. Others said they got the bad news over the phone. When they called back, they got the news that they still had two weeks’ pay left.
Read more: I was part of the layoffs at Netflix. Here’s how it went down.
Tesla recruiter: ‘I struggled to keep calm and not cry’
For Quishon Walker, working at Tesla was a dream job.
As an employee, he was among the first to lose his job when the company announced layoffs last month.
The company has announced that it has temporarily stopped hiring.
When he sees an ominous calendar invitation, he realizes his time is up after only two weeks at the company.
Read more: I was fired from my dream job at Tesla without warning. I feel like my life was taken away so that a billionaire could save some money.
Coinbase Engineer: “I’m Worried and Shocked”
Ashutosh Uki was an entry-level engineer who was offered his dream job at Coinbase after completing his degree at the University of Illinois.
As a visa holder, the UK’s ability to stay in the US is dependent on finding an employer to sponsor their visa.
When Coinbase told him they had canceled his job offer, he was worried about whether he would be able to stay in the country.
Ukey said he’s not sure if he wants to work in crypto again, given the visa situation and the uncertainty of the industry.
Read more: Coinbase job offer canceled If I don’t get a new job, I’m scared because I have to leave the country in 5 months.
If you’re a tech worker who wants to tell us your story, write to our editor, Tekendra Parmar, at tparmar@insider.com
