AI talent shortage is causing big job openings even as tech layoffs hit hard

In the U.S., the tech industry is leading the way in layoffs, reaching the highest level since the Great Recession in February, but parts of the industry are struggling to find the right talent and a war for talent has begun. He is reportedly flooded with offers. Up to $1 million.

Why Amazon's stock price rise will change employee compensation

In addition to generous compensation packages, companies ranging from small startups to industry leaders like OpenAI and Meta are offering accelerated stock vesting schedules and even trying to poach entire teams. The Wall Street Journal reported that.

Naveen Rao, Head of Generative AI at Databricks, told Barron's that there is a long-term shift in what talent wants. On the one hand there is a surplus of human resources and on the other hand there is a shortage.

OpenAI, the developer of ChatGPT, has a median salary of 925,000 (including bonuses and stock), Zuhayeer Musa, co-founder of compensation data and career platform Levels.fyi, told WSJ. He reportedly offered him a dollar amount. Six OpenAI job seekers were consulting his Levels.fyi about offers. Meanwhile, the median salary for Meta's 344 machine learning and AI engineers was about $400,000, including bonuses and stock, according to salaries reported on Levels.fyi.

Meta CEO Mark Zuckerberg once wrote a personal email to an AI researcher at Google's DeepMind to persuade him to work at Meta, sources told The Information. Told. The company is focused on developing AI models that power video recommendations on its platform, but it also reportedly offers jobs to candidates without interviews and offers higher rates to employees with job openings from competitors. The company rescinded its policy of not providing salaries.

Tech giants including Microsoft, Apple, Amazon, and Meta have announced layoffs this year, in part as they refocus on AI development. Many tech companies continued to overhire in 2021, riding a boom in the IPO market and startup funding, but have since cited restructuring and economic conditions as reasons for recent layoffs.

Andrew Challenger, labor and workplace expert at Challenger, said in a recent workforce reduction report that companies are aggressively cutting costs and embracing technological innovation, which will help reduce staffing needs. He said that there has been a big change.

Sources 1/ https://Google.com/ 2/ https://qz.com/tech-layoffs-high-ai-struggling-find-talent-1851368861 The mention sources can contact us to remove/changing this article

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