Thread regarding Wells Fargo & Co. layoffs

Technology Budget 2025

Technology budget this year is significantly reduced by 30%. We will have a tough year.

Source: Engineering Manager

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Post ID: @OP+1jj3bc2mf

9 replies (most recent on top)

@cw can't wait for AI to take over?

Would that be the current market-leading GPT4 that has an up to 30% "hallucination"(error) rate?

That required $5Bn of operating cost last year in order to generate $2.8Bn in profit?

That relies on upcoming GPUs that have had multiple, late-stage design alterations because they can't be cooled efficiently enough to guarantee the 100% utilization that LLMs require?

The AI model that M$ admits less than 5% of its customers want or use, so it's shoehorning it into 365 and Github in order to increase adoption and try to make it profitable?

Yeah, keep holding your breath for that technology to take over high-functioning, execution-oriented American jobs.

The rest of us will keep getting paid to do what GPT can't.

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Post ID: @dm+1jj3bc2mf

30% translates to savings from IA and IP hires replacing US workers. God bless us.

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Post ID: @dj+1jj3bc2mf

Typical self-centered narcissistic "technologists" who fight any process streamlining out of abject fear executives will see how useless and unnecessary they really are. I can't wait for AI to show how big a waste of space you are.

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Post ID: @cw+1jj3bc2mf

Typical dim minded process folks. We keep adding more processes but never take out redundant or outdated processes that are no longer needed. We just keep adding layers of paint on top of paint. No one in this clown show of technology and risk has the foresight to see the forest even if we cut down the tree.

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Post ID: @cb+1jj3bc2mf

@a2+1jj3bc2mf We’re inefficient because we have so many groups putting stupid sh@t in place and nobody is actually interested in getting things done.

Process for the sake of process.
Never ending meeting upon meeting
Talk to 10 people and you get 10 different answers.
Lack of transparency and clarity.
Too hard to find answers.

Sunrise takes several months
Getting to cloud takes months if you can even get there.

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Post ID: @c0+1jj3bc2mf

LOL

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Post ID: @av+1jj3bc2mf

@a3+1jj3bc2mf Budget this year is more than last year. So tell me now, why we are laying off so many people? Budget is good, we get more bonus and raise this year? Budget is good, we hiring more people? If none applies, senior management get all the money?

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Post ID: @ac+1jj3bc2mf

Budget is up 6% YoY
Source; Sr Engineering Manager

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Post ID: @a3+1jj3bc2mf

Isn’t our historical underfunding of technology the main reason we’re currently inefficient?

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Post ID: @a2+1jj3bc2mf

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