Tech layoffs have been rolling in left and right lately due to our current economic situation, along with the looming recession. Many companies and roles have been challenged over the past several months, leading to many positions being let go of for the time being.
One of the bigger companies to facilitate layoffs is Twitter, which is newly owned by Elon Musk. Cuts from other large companies like Meta have also taken place, eliminating around 11,000 jobs so far. A total of around 118,000 workers in tech have lost their jobs this year. Several companies have chosen to slow hiring, adding gas to the flames of tech workers looking for new jobs.
Interestingly enough, tech jobs have still remained high in demand and low in the unemployment area. That’s a huge perk for some, but why are these jobs not going down the tubes with others?
“Big tech layoffs and hiring freezes are dominating headlines, but what most analysts are missing is that countless startups are still growing and still obtaining funding,” said Lani Rosales, CEO at The American Genius. “They’re pre-IPO, so they may not be as sexy to some (yet), but there is still truly meaningful demand in small- to medium-sized tech companies.”
Despite hiring freezes and full-blown layoffs, tech talent is still needed and in high demand. Workers on LinkedIn have even laid roots of support to help newly laid-off workers to find new employment, which is showing to be helpful. As mentioned by Lani Rosales, even though they’re taking over headlines, big tech companies are only scratching the surface of all the smaller companies operating in adjacent industries looking to hire.
Smaller firms in several areas of expertise are still hiring new workers, which gives them a huge advantage. Industries that were previously skipped over by most are now being utilized, helping retain employment among the tech crowd. New ideas and growing companies will always be relevant, so tech workers will always be of importance, even during tough times like we’re all going through now.