Been hearing about layoffs in the tech industry and it’s spilling over into other industries.

14 Comments

1. AnonymousFebruary 17,2023 at 6:25PM UTC

   As a laid-off tech worker, I can tell you that in my personal experience, there has been a huge shift from the early pandemic days.

   It is not belt-tightening because of actual costs, in my experience, but more to make a point and prove to investors that are being mindful of cash.

   In addition, there are a lot of quiet layoffs going on that don't make the news. When a company abruptly lets go of an entire team without warning, it sends shivers down the spine of everyone else, especially since all of a sudden the emphasis is on KPIs and meeting metrics and everyone is worried about their jobs. But since it is usually less than 10 or so people at a time, it is not reported.

   In my friend's company, they are definitely using performance reviews to weed out people, even people who have worked and had good reviews for years.

   In my company where I was laid off, it went from a hiring bonanza to encouraging attrition. They were no longer flexible on work location (so people quit), they were more performance-driven (and set the bar unreasonably) so people would hopefully quit before being let go, and they got really stingy about silly things (like expensing snacks for a team meeting). Then, teams would go missing once in a while. Mine was one of them.

   So, is it union-busting? Maybe not in the strictest definition but yeah, I think tech companies are firmly saying the days of fun are over.

   And as a laid-off tech worker, I can also tell you that starting salaries are shrinking a bit. So, I fully expect to make less at my next job.

2. AnonymousFebruary 17,2023 at 7:35PM UTC

   I work in tech at one of the companies that did a mass layoff in January, and I 100% agree with your observations. I’m seeing the same things at my company and at other large tech companies where I have friends.

3. PatriciaFebruary 20,2023 at 3:25AM UTC

   I concur. I am also in tech. I was unemployed for 4 months before landing a 12 month contract, paying me $50k less with more responsibility.

4. Amy Carissa OliverFebruary 17,2023 at 6:27PM UTC

   I have not experienced this at all. My workplace covers about 16 industries and it is definitely still a workers' market.

5. AnonymousFebruary 17,2023 at 6:48PM UTC

   in Southern California the unemployment rate is 2.7 or lower so there is still a very favorable EMPLOYEE job market here. I have been on my search for exactly 2 weeks and have had strong responses to 5 of my applications with 4 screening interviews and 1 1st in-person interview completed and 1 in-person interview set for Tuesday.

   My role is a Corporate Paralegal so my experience has always been a strong response to job applications because most successful companies need 1 or 2 Paralegals. This is proving to be ever stronger job market in my world.

6. AnonymousFebruary 17,2023 at 7:28PM UTC

   Here in Oregon we have 7 jobseekers for every 10 job openings. Very much still a tight labor market. The tech layoffs are a tiny blip on the entire employment landscape, so unless you're switching from another field into tech right now, I wouldn't worry about it too much.

7. AnonymousFebruary 17,2023 at 8:24PM UTC

   Watch /read less news. It's a waste of time and energy drain, and generally focuses on fear and negative framing.

   The best way to find your next chapter is to keep connecting with people about your skills, experience, and interests, and find a place where you can apply them to help the organization solve their problems, advance their mission / initiatives / goals, etc.

   Read the books Minsdet and the Art of Possibility to get yourself in the most helpful headspace to make this shift.

   Consider working with a coach to support you with strategy, mindset, accountability, working through blocks, etc.

8. AnonymousFebruary 17,2023 at 8:56PM UTC

   Nope, in every other industry it's still very much an employee's market. Companies are will having to compete for talent. I was offered 2 signing bonuses and extra PTO. So don't believe what you hear.

9. Julie A. LaryFebruary 17,2023 at 9:10PM UTC

   I think the layoffs are primarily tied to the tech sector. Check out Layoffs.fyi. I’m also seeing lower salaries as small to medium businesses start to take up the slack, but can’t afford to pay top dollars.

10. AnonymousFebruary 18,2023 at 12:51AM UTC

    I work in the Human Services field. We most definitely are still an employee’s market. I live in the Bay Area where many of the large tech companies experiencing significant layoffs have a large presence and I am not hearing of carry over into other fields. It’s likely field and perhaps market dependent.

11. AnonymousFebruary 18,2023 at 1:52PM UTC

    Tech companies caught hiring fever after Covid and played a copycat game of recruiting too many employees out of sort of insane FOMO. There will be a spillover impact into other industries, for example those that provide services to tech companies may have reduced contracts based on deprioritization of programs designed to attract and retain talent and any job you take you should ask yourself, how is this connected to other sectors and how are those sectors doing. The point is to be prepared come what may and to make moves that will insulate you from risks. Your plans don’t need to be detailed, they need to be based in ever-changing realities, and that’s okay. Being flexible in these times is what will enable you to succeed.

12. AnonymousFebruary 19,2023 at 2:19PM UTC

    Outside of tech I have not seen any drastic shift in the labor market. Highly qualified candidates are still extremely hard to find and retaining employees is likewise difficult. It's in many ways more challenging to capture those with great experience. Education is not as important these days as in the past.

13. AnonymousFebruary 19,2023 at 6:55PM UTC

    Not sure what kind of advice you are seeking but clearly you have an opinion about the job market. If you are looking for a career change be sure your resume reflects the transferable skills from one industry to the other. Also be willing to take less money and a lower title as you will have to prove yourself there too.

14. AnonymousFebruary 19,2023 at 7:35PM UTC

    It definitely hinges on the industry and location. That said, I do really get the sense that a lot of employers are really pushing for that pre-pandemic life and wanting more face time in the office and offering less flexibility. Also, I think the workforce has taken a major culture shift in terms of what employees see as fair and equitable in terms of pay and work-life balance. In so far as my personal situation, my job is wanting everyone back in office and my cost of living has risen enough that I am actively looking, and finding the process very discouraging.