r/csMajors • u/OlliMulch • 1d ago
Internship Question Internships cancelled due to a recession?
Is this something that has happened before? Should those who have already accepted offers be worried about them being rescinded?
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u/qwerti1952 1d ago
Oh, dude. You should have been around during the dotcom crash in 2000 through 2002. Plus 9/11. All we need is a war with Iran and everyone dog piling on the US economically in retaliation.
It's gonna be bad. It has a fair chance of being far worse.
Be of good cheer. Life has always been this way.
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u/csanon212 23h ago
If WW3 happens tomorrow everyone here is gonna say that being a drone operator is the backdoor method to getting into a FAANG
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u/qwerti1952 23h ago
Unless you're caught just behind the front line. You will get special treatment and time enough to wish you had leetcoded harder before they are finished with you.
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u/Miserable-Quail-1152 1d ago
The economy has ups and downs. Industries have ups and downs. If you seek to finding happiness or fulfillment by riding the wave you don’t control you’re likely in for a rough time.
Have a good day friends!
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u/critiqueextension 1d ago
Historically, recessions have led to increased competition for internships, often resulting in more unpaid positions as employers take advantage of a surplus of eager candidates. During the Great Recession, for instance, many students faced canceled internships and heightened requirements for entry-level positions, a trend that may repeat itself in the current economic climate as companies become more selective with their hiring practices.
- For the Class of 2020, a Job-Eating Virus Recalls the Great Recession
- What Happened to the Intern Revolution? - The New Republic
- Recession's effects still felt in internship search - Chicago Maroon
This is a bot made by [Critique AI](https://critique-labs.ai. If you want vetted information like this on all content you browse, download our extension.)
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u/Romano16 23h ago
But a recession is all but guaranteed at this point and not just CS, but all fields in skilled work appears to be saturated besides healthcare. Why not surplus of jobs even at a slightly lower rate?
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u/CharmingOracle 22h ago
If we’re in college and are unable to get internships this summer, would the best course of action be to simply stall out graduation until the economy is doing better?
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u/callmesaucey 20h ago
ngl im doing this.. taking a gap semester to stack bread and code while eating my parents food
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u/MasterSkillz 1d ago
No, the money these companies spend on interns is a rounding error compared to the amount they make. Maybe if you're interning at an absolute no-name startup with limited funding, but everything else no.
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u/Inthespreadsheeet 1d ago
Bro you still in college, please teach us more on how companies operate in recessions and what has happened in the past like 08 or 2000
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u/the_death_card 1d ago
I know this sub is called cs majors so it’s mostly people still in college but it’s hilarious how these people act like know it alls about adult life and the work force when the majority of these people don’t even work part time on top of school
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u/MasterSkillz 1d ago
Yeah because the fact that I'm in college means I can't make rational observations from past occurrences and how companies act. You're telling me something like an f500 is going to rescind an entire cohort of interns due to a recession? Imagine how bad that would look to shareholders and customers. (also if you're in accounting/consulting why are you on the CS majors subreddit...)
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u/Inthespreadsheeet 1d ago
Yeah, they did in 00, 08, and 2020. You don’t think they care about interns until they stock craters and can have people teaching ya when they also need to fire them. Wasn’t around in 08 but 2020 was a wild time and having friends in consulting (both accounting and software engineering- fuck ERPs) around in 08 we haven’t even come close to the bottom yet
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u/AndreasDi 16h ago
I hate to break this to you but this is precisely what happened to me and most of my friends in 2020.
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u/the_death_card 1d ago edited 1d ago
Where tf did I say I was in accounting or consulting? I graduated cs in 2020 and manage a data and software engineering team. Regardless, tons of cs majors go into consulting buddy
I am saying the opposite of that. They’re not revoking internships. That’s what the dumb kids who haven’t been in the real world think
No idea wtf you’re responding to. Go read my other comments on this thread. I very clearly am not agreeing with anything you’re implying I am
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u/MasterSkillz 1d ago
My fault I checked u/Inthespreadsheeet 's account and saw that
I thought you said I was the dumb kid whos never been in the real world since it sounded like you were agreeing with him...
My fault, but your original comment wasn't clear
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u/Inthespreadsheeet 1d ago
lol, a simple search in this sub and cscareerquestions begs to differ for 2020
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u/the_death_card 1d ago
Begs to differ to what? What the fuck are you even talking about. I made no claims about 2020
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u/Diverryanc 1d ago
Rounding error or not, I’ve had 9 nation wide corporations, in writing, say that due to the economic uncertainty they are no longer bring new interns onboard. I’m not the only one in my school that has received similar correspondence. These companies could have stuck with the boilerplate ‘we’ve gone in different direction’ email or just straight ghosted so it was an active decision to give us the reasons they did.
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u/bruhidk123345 1d ago
Which companies?
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u/Diverryanc 1d ago
The responses had a ‘hit us up if the shit show ends’ feel to them so I’m not going to be the one to blast names of companies expressing concerns about financial stability. They can make their own public statements about it should they choose to. I’ll tell you that these were all companies that support manufacturing. Positions involved AI and automation, CV, embedded, and signal processing. Kinda telling (in my opinion) that businesses you’d think would boom by ‘bringing back the manufacturing jobs’ are pulling back.
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u/JustKaleidoscope1279 1d ago
Theres a big difference between rejecting you due to x reason vs. rescinding an already made offer.
I haven't seen any big tech companies rescind offers yet, even any small ones (the only things I've seen are literal govt positions rescind due to trumps direct mandates)
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u/Diverryanc 1d ago
Agree and maybe I haven’t been clear. This was neither rejection or rescinding of offers. This was stopping the process of recruiting new interns. You’ve made it past a behavioral or technical interview and had the next round scheduled and then they sent emails to us suspending the process. Interns that that already accepted offers in earlier cycles (among the other people I’ve talked with in my school) are still good for now. Maybe they had 30 internships at some location and 10 of those spots were filled. They are not going to fill the remaining 20 spots is what they are saying.
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u/the_death_card 1d ago
Lmao absolute bullshit dude. Name names or else this is just admitting you were making up bullshit
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u/Diverryanc 1d ago
Yeah…as hiring in this field gets harder let me light a potential bridge on fire to appease some random asshole on the internet.
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u/the_death_card 1d ago
There’s no bridge because you’re talking out of your ass
Even if there was it was a generic email they sent to tons of people
Cut the shit dude
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u/Icy_Swimming8754 4h ago
Meta literally rescinded my intern offer in 2023, you definitely don’t know what you’re talking about
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u/Prestigious-Hour-215 1d ago
This will lead to fewer internships in the future years like next summer or the summer after and e jobs but this summer is fine
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u/kbg2289 10h ago
Old person here. This is probably correct, assuming economic conditions don’t degrade much further. The budgets have already been set for this summer and a 20% pullback in markets probably isn’t enough to change their course just yet.
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u/Prestigious-Hour-215 10h ago
Yup. Although we still haven’t seen retailiatory tariffs from the EU with some whispers of the tariffs being on American tech services, which would really send a nuke to all of our jobs/internships
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u/Sad-Alfalfa-4157 1d ago
I got one for a large bank, am I cooked?
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u/the_death_card 1d ago
No this is some stupid terminally online shit. Banks are even safer than other industries but nobodies going to lose internships because of what’s happening in the stock market. This sub is full of fucking idiots
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u/Kitchen-Bug-4685 1d ago
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u/the_death_card 1d ago
Go for it buddy. There won’t be shit cancelled
You’re literally coping in advance of being an unemployed failure so you can blame it on external factors instead of yourself
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u/Kitchen-Bug-4685 1d ago
Yes, I'm sure companies hemorrhaging money won't cause them to lay off people at all. Also, is that projection? Seems oddly specific. Worst case scenario I can just ask my relatives for jobs in teams that they manage in tech. Yay for nepotism.
If this is your attitude in real life, I weep for your colleagues.
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u/the_death_card 1d ago
Companies don’t hemorrhage money due to the stock market going down. You’re just showing your complete ignorance on what the stock market means, how it’s affected, and what it affects
I weep for anyone who has to interact with you. Openly relying on nepotism for a job is so pathetic
Acting like I’m the bad person for calling out your terminally online idiocy is hilarious. Touch some grass and get a reality check kid
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u/Kitchen-Bug-4685 1d ago edited 1d ago
Who's showing complete ignorance? You're acting like the stock market and the tech industry are completely separate. Most of the tech market relies on ever increasing investments to stay afloat. Interest rates increasing a few basis points literally causes layoffs. Do you even work in tech? I have friends and family that have decades experience in the US and Canada who are sure scared because their RSUs are down, and they have to make sure their teams are in good shape because they know layoffs are coming if this trend continues. Mind you, that their morale was already down because adjacent teams in their companies were laid off because of previous budget cuts from lack of capital. I don't know what company you work for that you are completely insulated from the market, but good for you I guess.
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u/the_death_card 1d ago edited 1d ago
Stock sales aren’t investments aside from the initial sale when the stocks go public. You’re so arrogant while being so ignorant. These stocks going down and being traded between random accounts have literally 0 impact on company balance sheets. They are entirely separate
What does RSUs going down do little buddy? Explain to me
You obviously don’t work at all. You’re a spoiled little student who thinks he knows how the world works
Companies who are laying off because of a few basis point changes were already on the edge and probably over leveraged into debt to begin with. Actual stable companies aren’t laying off because of that. Hilarious you talk about investments and debt in the same thing. Companies funded by big cash investments typically aren’t taking on much debt. You can’t even tell the difference
I am not acting like they are separate but I’m not a moron who thinks a week of stock dips somehow affect company balance sheets
I manage a development team at a bank that does development on our collateral monitoring software and we specialize in SBLOC loans. I am directly involved in the market in my everyday work. You are speaking so strongly about something you know nothing about. It’s literally part of my job. I work in the intersection of tech and the market on software that monitors securities based collateral
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u/Kitchen-Bug-4685 1d ago
Okay, now you're just trolling. What do you think happens to private equity when the stock market plunges? Do you think they just ignore that and act like a company's evaluation is still the same? What do you think happens when the Fed is saying there will be less growth and more uncertainty? Interests rates???
I am legit confused on how you think there won't be layoffs when there were layoffs even across the board even before this whole trade war began. Even ignoring macroeconomic trends, every single person I know working in the industry is scared, even more than they were when people around them were being laid off this past year.
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u/the_death_card 1d ago edited 1d ago
I am not saying there won’t be any layoffs, I am saying what’s currently happened over the last week in the market and what you and others are currently freaking out about is not something that would cause layoffs in any meaningful numbers. Can things change and other stuff happen? Sure. If this is it will it? No
We saw two similar dips during Biden presidency and you didn’t have a meltdown over it like you currently are. You probably aren’t even aware that that happened nor remember it. Zoom out dude
If everyone you know is scared you’re surrounded by insecure or low IQ people
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u/Kitchen-Bug-4685 1d ago
lmao I've never seen so many comments deleted this much. Are you deleting them yourself or are you just too toxic for even Reddit? Anyways, you should bet on Poly Market that there won't be a recession this year. You'd be making more than > 2x the returns! You seem to be better at predicting the market than everyone. Please preferably put your life savings on it.
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u/Healthy_Razzmatazz38 19h ago
yes this happens, but its not a given, no you shouldn't worry because theres nothing you can do and for the rest of yoru life there will be stuff like this, though hopefully less frequently than recently.
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u/YasmineloveValentina 23h ago
I remember during Covid internships were being cancelled…
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u/Ornery_Prune7328 10h ago
and after covid.......................................................
copium
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u/AndreasDi 16h ago
this depends on industry but for some interns the chance of being rescinded is considerable. this happened in 2020 and 2008 but it isn't quite as bad as those too yet(doesn't mean it won't be though)
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u/Dismal-Detective-737 1d ago
Internships and full time jobs too. Absolutely. 2009 was a rough spring for everyone, especially graduating seniors.