News & Analysis
Silicon Valley execs cautious on jobs
Rick Merritt
3/6/2013 10:50 AM EST
Somewhat less sunny jobs outlook
Click on image to enlarge.
Click on image to enlarge.
Click on image to enlarge.
Silicon Valley execs added fewer jobs and cut more positions than they did last year (above). While optimistic overall, they are somewhat less so than last year (below).
Click on image to enlarge.
|
|
|
|
|
Navigate to related information
rick.merritt
3/6/2013 11:06 AM EST
Do you share the cautious optimism?
Sign in to Reply
Ogemaniac
3/7/2013 12:28 AM EST
My solution to the H1B issue? Auctions.
Sell 10,000 slots each month (around half again more than we give away now) for whatever money the market will bear. If employers really need these people, they will be willing to fork over the cash. This will also have two nice side benefits
1: A few billion in revenue each year for the government
2: Most concerns about "cheap labor" evaporate as companies will in theory bid away any potential gains from labor arbitrage
Sign in to Reply
peter.clarke
3/7/2013 8:05 AM EST
@Ogemaniac
The corporations only need H1B visa-ed employees if they are lower-cost than already present workers. This limits what companies would be willing to pay.
The alternative is auction the H1B visas to the aspiring workers but again their ability to raise capital with which to bid may be limited.
Sign in to Reply
fundamentals
3/7/2013 11:35 AM EST
The so called "H1-B issue" is completely bogus. There is no shortage of very highly qualified technical people in the Valley. But there is a dire shortage of those who are willing to work for peanuts. This is what I have to say to those executives who thought H1-B visas ware a major concern: When you look for a top-of-the line engineer, pay him like you pay your VP of marketing, and see how many applicants you get! When you need an average engineer, you can pay a lot less, but you still need to pay more than what you plan to pay for an H1-B visa holder.
Sign in to Reply
theman
3/7/2013 12:42 PM EST
To be fair, first thing we need is to replace our CEOs with the ones with H1-B.
Let them hire qualified H1-B employees. This may be easiest and best way to get highly talented technical people.
Sign in to Reply
WW Thinker
3/11/2013 9:09 AM EDT
Theman, I further propose to set the priorities such that CEOs of all the major banks, investment firms, and financial institute are the first to be replaced :)
Sign in to Reply
chanj
3/8/2013 1:50 AM EST
There is no doubt labor cost and high medical cost are the primary contributes to losing jobs. The valley might have better access of capital and better talents in various areas to (re)invent a business. Yet, once the business is on track, cost reduction kicks in. There isn't much reason to keep operation in the Valley. Management, then, would need to make a tough decision to run the operation elsewhere.
On the other hands, there is cost to employees. Paying high salary, most employers expect no training offer and start contribute first day at a new job. What worst is this practice applies to new employees fresh out from college.
Sign in to Reply