Connect with us

Hi, what are you looking for?

The American GeniusThe American Genius

Opinion Editorials

Is the tech industry layoff bloodbath coming or is it already here?

We have large online communities for job seekers, and we can affirm that the layoffs are on the way, but there is a silver lining for all involved…

layoff time

If you were on Twitter at the end of last week, you probably saw a dribble of conversations about layoffs in tech coming, and today, the volume was turned up to 10 on social media. Several founders have said they’re cutting parts of teams and are nixing contractors. We’re about to be in a recession, y’all, and we can ALL feel it coming.

While this has been happening all of this calendar year, a pending recession is kicking the stock market in the teeth (especially in tech), and combined with a slowdown in fundraising, fuel has been added to what was simply kindling, and layoffs are already rapidly escalating.

Advertisement. Scroll to continue reading.

JD isn’t the only one hearing it, my inbox has slowly been lighting up on this topic. In response, Joshua Baer noted that it’s a great time to scoop up talent. Love or hate him, he’s right.

There is a lot of data on tech layoffs, for example, Layoffs.FYI has been tracking meaningfully since COVID began, pulling info from public reports. We expect they’ll be busy for the next few months.

While VC funding in 2021 was at a global high, so far, 2022 has shown a significant slowdown, according to CrunchBase. Many believe valuations are tumified, a bear market is believed to be upon us, and tech firms are struggling to increase profitability, all combining to a bubble about to burst.

Advertisement. Scroll to continue reading.

As Baer noted, the silver lining is for anyone looking to hire. It’s bad news for anyone about to get a pink slip, but it’s also empowering to know that candidates are still in the driver’s seat in this market and negotiations are still in their favor.

We at AG have communities dedicated completely to job seekers and employers, and have created neutral ground on which they can meet, and they do by the thousands (Austin Digital Jobs and Remote Digital Jobs).

We’re not seeing the “bloodbath” of folks with pink slips in hand yet, BUT today, a dozen mid- to senior- level technologists reached out to me personally that got laid off Monday morning.

With our finger firmly on the tech employment pulse, we agree with the assessment that layoffs are coming.

More on this topic: “Why are tech layoffs coming after such great Q1 earnings?!”

Advertisement. Scroll to continue reading.

Here’s the TL;DR version in memes:

The end is nigh?
tech layoffs in memes

Seems about right

In and out Morty, a quick 24 hour adventure!

Diversification is the key


The May 2022 stock market

Insert angry title here

It’s fedish!

Lani is the COO and News Director at The American Genius, has co-authored a book, co-founded BASHH, Austin Digital Jobs, Remote Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

1 Comment

1 Comment

  1. Pingback: Bazaarvoice Layoffs - GoLayoffs

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

The
American Genius
news neatly in your inbox

Subscribe to our mailing list for news sent straight to your email inbox.

Advertisement

KEEP READING!

Economic News

Trade schools are booming as career outlook grows. College enrollment is down. The workforce is changing. How can small business keep up?

Business News

Hunting for a job can come with infinite pressures and rejection, sometimes you just want it to be over - here's how to avoid...

Business Entrepreneur

Finding unicorn employees are every hiring manager’s dream, but what should you look for to find them? We have the answer!

Opinion Editorials

(EDITORIAL) Global Pandemic or not, people struggle to search for job opportunities, their careers, and to find their passion.

The American Genius is a strong news voice in the entrepreneur and tech world, offering meaningful, concise insight into emerging technologies, the digital economy, best practices, and a shifting business culture. We refuse to publish fluff, and our readers rely on us for inspiring action. Copyright © 2005-2022, The American Genius, LLC.