Waiting for a tech job in China

[Bloomberg] [Fully Charged]( From [Bloomberg](   [FOLLOW US [Facebook Share]]( [Twitter Share]( [SUBSCRIBE [Subscribe]](  Hi all, it's David in Beijing. President Trump and China's Xi Jinping may be close to completing a [trade agreement](, possibly as soon as next week. For tech in China, though, that’s hardly going to be a reprieve when you consider the lasting impact from the uncertainty and economic slowdown on everyday workers. It can be hard for people outside of China to grasp what this country's technology scene means to the nation’s psyche. For years — even after the insular convulsions of the Cultural Revolution gave way to the openings of trade reforms under Deng Xiaoping — having your son or daughter work in government or at a state-owned enterprise was the pinnacle of stability and success. That's been changing with the inexorable rise of China's tech giants at home and abroad, which represent the bleeding edge of the new economy. Now, parents are just as eager to boast that their son or daughter works for Huawei, or Alibaba. That’s why talk of job cuts at Didi, management reductions at JD.com and hiring freezes at other tech giants is alarming for so many. Although we reported that hiring ads throughout the sector fell by [20 percent](in the December quarter, there are signs that it may be getting worse.  I spoke to someone recently who had clinched an employment offer from Alibaba, but was told not to show up until April; March is the deadline for trade talks and looming tariffs between the U.S. and China. There's no guarantee the job will come through. JD.com ranks some of its staff and cuts those with lower scores, fueling fear and uncertainty at its head office. The e-commerce company recently pledged to do that with 10 percent of executives ranked vice president and above. In a tacit acknowledgment that things are looking gloomy, both have scrambled to issue positive news. Alibaba promised not to fire staff this year, and JD.com announced it would add 15,000 workers to its ranks in 2019, mostly in delivery and logistics. Both stories were eagerly endorsed by state media. But with the long-term battle between China and the West over technologies like 5G and semiconductors likely to last beyond well beyond Trump, uncertainty will remain. As I stepped into a Didi ride just before the Lunar New Year, the driver told me he’s packing up and heading back to his home province to open a restaurant. Two of his cars had been impounded and his income was worsening, so he’s leaving while his wife remains at her secure job at a state-backed telecoms operator. People here are spooked by the tech downturn. Like the Chinese proverb goes, the falling of one leaf heralds autumn's arrival. —[David Ramli](mailto:dramli1@bloomberg.net)  And here’s what you need to know in global technology news Zzzzzz. Apple is testing a [sleep monitor]( for a future version of its smartwatch.  Uh-oh: if Warren Buffett doesn't understand your business... The famed investor isn't the only one saying he [doesn’t understand Oracle's business.](  Huawei fights back. The Chinese telecoms company [disputes]( U.S. accusations that the Shenzhen-based company’s products could be used for espionage. "Go ask Edward Snowden."  Costco vs. Amazon. Guess [which one]( consumers chose as the e-commerce winner?  Settled? EBay is in settlement talks with Elliott Management and Starboard Value that could result in the activist investors [avoiding a proxy fight]( involving the online marketplace.    You received this message because you are subscribed to the Bloomberg Technology newsletter Fully Charged. You can tell your friends to [sign up here](.  [Unsubscribe]( | [Bloomberg.com]( | [Contact Us]( Bloomberg L.P. 731 Lexington, New York, NY, 10022