<story><title>Microsoft Freezes Salaries for 2023</title><url>https://twitter.com/tomwarren/status/1656331173390327811</url></story><parent_chain><item><author>csa</author><text>It doesn’t take illegal back channel coordination to play follow the leader.&lt;p&gt;All it takes is one major company to pull the trigger, then the rest will follow.&lt;p&gt;The hiring market during covid was wonky in a way that favored applicants, and a lot of folks who got hired were under-qualified, overpaid, or both. This is just a natural reversion to a more balanced state across the industry.</text></item><item><author>pydry</author><text>I wonder how much illegal back channel coordination there is going on between the big tech companies on this.</text></item><item><author>galoisscobi</author><text>Wondering how long it’ll take for other tech companies to copy this move and pretend that they independently arrived at these conclusions after their meticulous macroeconomic analysis.</text></item></parent_chain><comment><author>jhp123</author><text>If all large tech employers play follow the leader then it&amp;#x27;s not natural reversion, it&amp;#x27;s a textbook example of tacit oligopoly coordination.</text></comment>
<story><title>Microsoft Freezes Salaries for 2023</title><url>https://twitter.com/tomwarren/status/1656331173390327811</url></story><parent_chain><item><author>csa</author><text>It doesn’t take illegal back channel coordination to play follow the leader.&lt;p&gt;All it takes is one major company to pull the trigger, then the rest will follow.&lt;p&gt;The hiring market during covid was wonky in a way that favored applicants, and a lot of folks who got hired were under-qualified, overpaid, or both. This is just a natural reversion to a more balanced state across the industry.</text></item><item><author>pydry</author><text>I wonder how much illegal back channel coordination there is going on between the big tech companies on this.</text></item><item><author>galoisscobi</author><text>Wondering how long it’ll take for other tech companies to copy this move and pretend that they independently arrived at these conclusions after their meticulous macroeconomic analysis.</text></item></parent_chain><comment><author>pydry</author><text>Coordination is required to make sure that one company decide to &amp;quot;defect&amp;quot; and start offering pay rises to all the best people at Microsoft.&lt;p&gt;At least, thats what the illegal agreement was about last time this happened (between Apple and Google).</text></comment>